119  Total SME IPOs listed in 2025

5,543.76 Crs.  Total funds raised in 2025

83  SME IPOs listed with Gain in 2025

36  SME IPOs listed with loss in 2025

119  Total SME IPOs listed in 2025

5,543.76 Crs.  Total funds raised in 2025

83  SME IPOs listed with Gain in 2025

36  SME IPOs listed with loss in 2025

119  Total SME IPOs listed in 2025

5,543.76 Crs.  Total funds raised in 2025

83  SME IPOs listed with Gain in 2025

36  SME IPOs listed with loss in 2025

119  Total SME IPOs listed in 2025

5543.76 Crs.  Total funds raised in 2,025.00

83  SME IPOs listed with Gain in 2025

36  SME IPOs listed with loss in 2025

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Year Wise SME Merchant Bankers in India

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
Pantomath Capital Advisors Private Limited 24 203.23 8.47 10.88 0.00 Mumbai Connect
Hem Securities Limited 12 99.93 8.33 11.75 0.00 Jaipur Connect
Aryaman Financial Services Limited 10 147.27 14.73 20.78 0.00 New Delhi Connect
Guiness Corporate Advisors Private Limited 9 93.71 10.41 3.65 0.00 Kolkata Connect
Sarthi Capital Advisors Private Limited 6 37.95 6.33 3.82 0.00 Mumbai Connect
First Overseas Capital Limited 4 16.94 4.24 -10.33 0.00 Mumbai Connect
Swastika Investmart Limited 3 29.12 9.71 7.13 0.00 Mumbai Connect
Corporate Strategic Allianz Limited 3 71.91 23.97 -1.34 0.00 Ahmedabad Connect
Gretex Corporate Services Limited 2 10.52 5.26 -1.33 0.00 Mumbai Connect
Navigant Corporate Advisors Limited 1 11.22 11.22 20.00 0.00 Mumbai Connect
Arihant Capital Markets Limited 1 22.01 22.01 -5.50 0.00 Mumbai Connect
Mehta Integrated Finance Limited 1 2.00 2.00 4.50 0.00 Ahmedabad Connect
Chartered Capital And Investment Limited 1 6.00 6.00 -5.00 0.00 Ahmedabad Connect
Keynote Financial Services Limited 1 26.99 26.99 -8.91 0.00 Mumbai Connect
Tipsons Consultancy Services Private Limited 1 25.50 25.50 2.52 0.00 Ahmedabad Connect
Karvy Investor Services Limited 1 3.58 3.58 6.88 0.00 Hyderabad Connect

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