Get detailed insights into year-wise Merchant Banker reviews with our comprehensive analysis of BRLMs (Book Running Lead Managers) for SME IPOs in India. This page highlights the performance and services provided by top merchant banking firms for each year, including 2024 merchant bankers, 2023 merchant bankers, and 2022 merchant bankers. Discover which merchant bankers played a key role in helping SMEs raise capital, navigate regulatory processes, and achieve successful listings. Explore reviews of the best merchant bankers known for their expertise in SME IPO advisory and capital market strategies tailored for growing businesses.
| Merchant Banker | No of IPOs so far | Total funds raised (Cr.) | Avg IPO size (Cr.) | Avg Listing Gain (%) | Avg Subscription (X) | Location | |
|---|---|---|---|---|---|---|---|
| Guiness Corporate Advisors Private Limited | 6 | 62.61 | 10.44 | 6.99 | 0.00 | Kolkata | Connect |
| Aryaman Financial Services Limited | 3 | 16.16 | 5.39 | 4.07 | 0.00 | New Delhi | Connect |
| Sarthi Capital Advisors Private Limited | 1 | 12.21 | 12.21 | 0.00 | 0.00 | Mumbai | Connect |
| Inventure Merchant Banker Services Private Limited | 1 | 8.56 | 8.56 | 8.67 | 0.00 | Mumbai | Connect |
| Ajcon Global Services Limited | 1 | 5.35 | 5.35 | 0.00 | 0.00 | Mumbai | Connect |
| Monarch Networth Capital Limited | 1 | 12.00 | 12.00 | 0.25 | 0.00 | Ahmedabad | Connect |
| Vc Corporate Advisors Private Limited (Vcapl) | 1 | 6.00 | 6.00 | 8.00 | 0.00 | Kolkata | Connect |
| Intensive Fiscal Services Private Limited | 1 | 5.10 | 5.10 | 2.50 | 0.00 | Mumbai | Connect |
| Idbi Capital Market Services Limited | 1 | 19.00 | 19.00 | 0.25 | 0.00 | Mumbai | Connect |
| First Call India Equity Advisors Private Limited | 1 | 5.05 | 5.05 | 0.56 | 0.00 | Mumbai | Connect |
| Comfort Securities Private Limited | 1 | 8.00 | 8.00 | 146.25 | 0.00 | Mumbai | Connect |
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