130 Total SME IPOs listed in 2025

6,045.32 Crs. Total funds raised in 2025

92 SME IPOs listed with Gain in 2025

38 SME IPOs listed with loss in 2025

130 Total SME IPOs listed in 2025

6,045.32 Crs. Total funds raised in 2025

92 SME IPOs listed with Gain in 2025

38 SME IPOs listed with loss in 2025

130 Total SME IPOs listed in 2025

6,045.32 Crs. Total funds raised in 2025

92 SME IPOs listed with Gain in 2025

38 SME IPOs listed with loss in 2025

130 Total SME IPOs listed in 2025

6045.32 Crs. Total funds raised in 2,025.00

92 SME IPOs listed with Gain in 2025

38 SME IPOs listed with loss in 2025

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Summary

PE Ratio^*
Highest	80.91
Median	29.46
Lowest	12.83

IPO Size (Cr.)
Highest	18300.00
Median	2,317.22
Lowest	125.43

*IPOs with Extreme PE (50+) are excluded from the above calculations.
Above summary is for reference only as the same is based on the limited data set.

Mainboard Merchant Banker Performance Tracker FY22

IPO Performance of Merchant Bankers in India on NSE and BSE stock exchanges for Mainboard IPO 2022. List of merchant banks with number of IPO assisted, Total Fundraise, Average PE Ratio, IPO listed in Gain/loss and Current IPO Performance of the BRLM. Latest IPO Performance of Merchant banking company for IPO 2022. IPO Lead managers help business owners in the IPO Listing Process, Pre IPO Funding and IPO valuation for a Successful IPO Listing. Merchant Banker services guide the company in the IPO process and help in DRHP filing, RHP and Final Prospectus.

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Merchant Banker	No of IPOs so far	Total funds raised (Cr.)	Avg PE Ratio	IPO Listed in Gain/Loss	CMP vs Offer Price (Gain/Loss)	CMP vs Listing Price (Gain/Loss)
Axis Capital Limited	26	69,917.12	48.73	23 (88%) 3 (12%)	15 (58%) 11 (42%)	12 (46%) 14 (54%)
ICICI Securities Limited	22	53,351.43	54.65	20 (91%) 2 (9%)	10 (45%) 12 (55%)	7 (32%) 15 (68%)
Jm Financial Limited	17	28,984.05	55.13	15 (88%) 2 (12%)	11 (65%) 6 (35%)	9 (53%) 8 (47%)
Kotak Mahindra Capital Company Limited	15	47,583.03	32.83	14 (93%) 1 (7%)	12 (80%) 3 (20%)	9 (60%) 6 (40%)
IIFL Securities Limited	14	26,109.04	34.67	14 (100%) 0 (0%)	7 (50%) 7 (50%)	7 (50%) 7 (50%)
Edelweiss Financial Services Limited	9	23,119.04	40.42	8 (89%) 1 (11%)	5 (56%) 4 (44%)	4 (44%) 5 (56%)
Citigroup Global Markets India Private Limited	8	54,447.92	68.68	7 (88%) 1 (13%)	4 (50%) 4 (50%)	4 (50%) 4 (50%)
Dam Capital Advisors Limited (Formerly Idfc Securities Limited)	8	14,898.38	50.62	7 (88%) 1 (13%)	6 (75%) 2 (25%)	5 (63%) 3 (38%)
Bofa Securities India Limited	7	31,931.21	68.62	7 (100%) 0 (0%)	4 (57%) 3 (43%)	3 (43%) 4 (57%)
Credit Suisse Securities (India) Private Limited	6	25,917.04	41.34	6 (100%) 0 (0%)	4 (67%) 2 (33%)	2 (33%) 4 (67%)
Hdfc Bank Limited	6	31,936.54	15.75	4 (67%) 2 (33%)	4 (67%) 2 (33%)	2 (33%) 4 (67%)
Nomura Financial Advisory And Securities (India) Private Limited	6	8,815.82	94.57	6 (100%) 0 (0%)	4 (67%) 2 (33%)	3 (50%) 3 (50%)
SBI Capital Markets Limited	6	14,395.32	22.09	5 (83%) 1 (17%)	3 (50%) 3 (50%)	3 (50%) 3 (50%)
Ambit Private Limited	5	13,489.20	43.85	4 (80%) 1 (20%)	2 (40%) 3 (60%)	2 (40%) 3 (60%)
Equirus Capital Private Limited	5	4,935.12	60.34	4 (80%) 1 (20%)	4 (80%) 1 (20%)	3 (60%) 2 (40%)
Bob Capital Markets Limited	3	7,863.60	15.31	2 (67%) 1 (33%)	2 (67%) 1 (33%)	2 (67%) 1 (33%)
Yes Securities (India) Limited	3	9,118.26	17.98	2 (67%) 1 (33%)	2 (67%) 1 (33%)	2 (67%) 1 (33%)
Unistone Capital Private Limited	2	251.39	31.97	2 (100%) 0 (0%)	0 (0%) 2 (100%)	0 (0%) 2 (100%)
Anand Rathi Securities Limited	2	830.78	30.94	2 (100%) 0 (0%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)
Bnp Paribas	2	4,260.00	31.67	2 (100%) 0 (0%)	2 (100%) 0 (0%)	1 (50%) 1 (50%)
Clsa India Private Limited	2	3,038.29	191.06	2 (100%) 0 (0%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Goldman Sachs (India) Securities Private Limited	2	19,813.60	12.55	1 (50%) 1 (50%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Hsbc Securities & Capital Markets Private limited	2	12,734.99	0.00	2 (100%) 0 (0%)	0 (0%) 2 (100%)	0 (0%) 2 (100%)
J.P. Morgan India Private Limited	2	10,550.00	39.43	2 (100%) 0 (0%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Jefferies India Private Limited	2	8,349.18	9.48	2 (100%) 0 (0%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Motilal Oswal Investment Advisors Limited	2	4,606.26	16.55	2 (100%) 0 (0%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)
Pantomath Capital Advisors Private Limited	1	161.09	35.29	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Intensive Fiscal Services Private Limited	1	569.64	41.16	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Idbi Capital Market Services Limited	1	731.00	28.18	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Haitong Securities India Private Limited	1	600.00	43.68	1 (100%) 0 (0%)	1 (100%) 0 (0%)	0 (0%) 1 (100%)
Indusind Bank Limited	1	3,850.00	20.85	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Morgan Stanley India Company Private Limited	1	18,300.00	0.00	0 (0%) 1 (100%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)

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Summary

PE Ratio^*
Highest	80.91
Median	29.46
Lowest	12.83

IPO Size (Cr.)
Highest	18300.00
Median	2,317.22
Lowest	125.43

*IPOs with Extreme PE (50+) are excluded from the above calculations.
Above summary is for reference only as the same is based on the limited data set.

Explore More...

SME BRLM Performance Tracker >> Mainboard Performance Tracker >>

IPOs by PE Multiple >> SME Performance Tracker >>

City wise Mainboard Merchant Banker >> Upcoming Mainboard IPO >>

City wise SME Merchant Banker >> Upcoming SME IPO >>

Upcoming SME IPOs in India

The below mentioned are the forthcoming SME IPOs for which DRHPs have been filed recently and are in process of approval by the BSE SME or NSE Emerge exchange.