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

Find More IPO

Analyse

Thinking of
Listing Your Business through
SME IPO?

We can Help!

Summary

PE Ratio^*
Highest	55.54
Median	10.90
Lowest	3.81

IPO Size (Cr.)
Highest	4326.36
Median	866.17
Lowest	66.00

*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 FY24

IPO Performance of Merchant Bankers in India on NSE and BSE stock exchanges for Mainboard IPO 2024. 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 2024. 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.

Filter

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)
ICICI Securities Limited	28	26,718.71	13.23	25 (89%) 3 (11%)	17 (61%) 11 (39%)	16 (57%) 12 (43%)
Jm Financial Limited	24	28,874.80	12.93	21 (88%) 3 (13%)	14 (58%) 10 (42%)	11 (46%) 13 (54%)
Axis Capital Limited	19	25,063.91	9.87	16 (84%) 3 (16%)	16 (84%) 3 (16%)	13 (68%) 6 (32%)
IIFL Securities Limited	16	17,979.05	12.66	13 (81%) 3 (19%)	10 (63%) 6 (38%)	9 (56%) 7 (44%)
Kotak Mahindra Capital Company Limited	12	21,144.17	8.48	12 (100%) 0 (0%)	9 (75%) 3 (25%)	9 (75%) 3 (25%)
SBI Capital Markets Limited	12	14,835.35	17.52	8 (67%) 4 (33%)	8 (67%) 4 (33%)	7 (58%) 5 (42%)
Dam Capital Advisors Limited (Formerly Idfc Securities Limited)	9	8,706.68	18.98	6 (67%) 3 (33%)	4 (44%) 5 (56%)	4 (44%) 5 (56%)
Nuvama Wealth Management Limited	8	5,922.97	14.04	6 (75%) 2 (25%)	3 (38%) 5 (63%)	2 (25%) 6 (75%)
Equirus Capital Private Limited	7	5,308.63	17.42	6 (86%) 1 (14%)	4 (57%) 3 (43%)	3 (43%) 4 (57%)
Citigroup Global Markets India Private Limited	6	12,658.96	12.96	6 (100%) 0 (0%)	5 (83%) 1 (17%)	4 (67%) 2 (33%)
Motilal Oswal Investment Advisors Limited	6	4,370.43	2.63	5 (83%) 1 (17%)	1 (17%) 5 (83%)	0 (0%) 6 (100%)
Unistone Capital Private Limited	5	1,292.72	4.97	5 (100%) 0 (0%)	4 (80%) 1 (20%)	2 (40%) 3 (60%)
J.P. Morgan India Private Limited	4	6,621.71	12.78	4 (100%) 0 (0%)	2 (50%) 2 (50%)	2 (50%) 2 (50%)
Pantomath Capital Advisors Private Limited	3	731.16	0.00	3 (100%) 0 (0%)	3 (100%) 0 (0%)	2 (67%) 1 (33%)
Keynote Financial Services Limited	3	944.78	15.88	2 (67%) 1 (33%)	2 (67%) 1 (33%)	1 (33%) 2 (67%)
Ambit Private Limited	3	2,291.55	7.94	3 (100%) 0 (0%)	3 (100%) 0 (0%)	2 (67%) 1 (33%)
Bnp Paribas	3	3,172.26	5.55	3 (100%) 0 (0%)	1 (33%) 2 (67%)	1 (33%) 2 (67%)
Hdfc Bank Limited	3	4,246.40	7.85	2 (67%) 1 (33%)	1 (33%) 2 (67%)	1 (33%) 2 (67%)
Jefferies India Private Limited	3	7,477.36	3.28	3 (100%) 0 (0%)	3 (100%) 0 (0%)	3 (100%) 0 (0%)
Khambatta Securities Limited	2	393.41	11.00	2 (100%) 0 (0%)	2 (100%) 0 (0%)	1 (50%) 1 (50%)
Intensive Fiscal Services Private Limited	2	1,336.55	22.48	1 (50%) 1 (50%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Anand Rathi Securities Limited	2	1,140.00	12.97	1 (50%) 1 (50%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Bajaj Capital Limited	2	414.01	11.53	2 (100%) 0 (0%)	1 (50%) 1 (50%)	0 (0%) 2 (100%)
Bob Capital Markets Limited	2	2,695.61	75.27	1 (50%) 1 (50%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Bofa Securities India Limited	2	6,242.51	21.89	2 (100%) 0 (0%)	2 (100%) 0 (0%)	1 (50%) 1 (50%)
Hsbc Securities & Capital Markets Private limited	2	5,164.01	0.00	2 (100%) 0 (0%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)
Nomura Financial Advisory And Securities (India) Private Limited	2	1,355.33	51.03	1 (50%) 1 (50%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Aryaman Financial Services Limited	1	480.00	0.00	0 (0%) 1 (100%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
First Overseas Capital Limited	1	153.05	11.34	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Fedex Securities Private Limited	1	224.00	0.00	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Systematix Corporate Services Limited	1	429.00	0.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	0 (0%) 1 (100%)
Monarch Networth Capital Limited	1	429.00	0.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	0 (0%) 1 (100%)
Holani Consultants Private Limited	1	151.09	0.00	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Arihant Capital Markets Limited	1	100.00	34.04	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Saffron Capital Advisors Private Limited	1	66.00	9.67	0 (0%) 1 (100%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Choice Capital Advisors Private Limited	1	308.88	0.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Idbi Capital Market Services Limited	1	2,150.21	127.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Axis Bank Limited	1	2,500.00	0.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Centrum Capital Limited	1	251.19	20.08	0 (0%) 1 (100%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Clsa India Private Limited	1	1,800.00	0.00	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Credit Suisse Securities (India) Private Limited	1	2,800.00	0.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Elara Capital (India) Private Limited	1	270.20	0.00	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Emkay Global Financial Services Limited	1	251.19	20.08	0 (0%) 1 (100%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Inga Ventures Private Limited	1	300.13	24.30	0 (0%) 1 (100%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Iti Capital Limited	1	400.00	15.33	0 (0%) 1 (100%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Mirae Asset Capital Markets (India) Private Limited	1	490.78	0.00	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Morgan Stanley India Company Private Limited	1	3,200.00	0.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Pnb Investment Services Limited	1	153.05	11.34	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)

Find More IPO

Analyse

Summary

PE Ratio^*
Highest	55.54
Median	10.90
Lowest	3.81

IPO Size (Cr.)
Highest	4326.36
Median	866.17
Lowest	66.00

*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.