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List of merchant bankers in India | Best IPO Lead Manager

A lead manager is a SEBI registered entity who manages the IPO from end to end. They orchestrate the entire IPO process and coordinate with all the parties involved in the IPO from beginning to end.

A lead manager is also often referred to as a merchant banker or investment banker. Thus, you can also refer below for the list of investment bankers in India.

List of IPO Lead Managers in India

Lead Managers Number of IPOs
ICICI Securities Limited178
Axis Capital Limited167
Kotak Mahindra Capital Company Limited162
Hem Securities Limited128
Jm Financial Limited124
Pantomath Capital Advisors Pvt Ltd112
SBI Capital Markets Limited110
Iifl Securities Ltd98
Aryaman Financial Services Limited92
Edelweiss Financial Services Ltd73
Citigroup Global Markets India Private Limited72
Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)53
First Overseas Capital Limited52
Beeline Capital Advisors Pvt Ltd52
Oneview Corporate Advisors Pvt. Ltd.50
Gretex Corporate Services Limited50
Sarthi Capital Advisors Private Limited49
Fedex Securities Pvt Ltd47
Bofa Securities India Limited47
Finshore Management Services Limited44
Shreni Shares Limited44
J.P. Morgan India Private Limited42
Idbi Capital Market Services Limited39
Motilal Oswal Investment Advisors Limited37
Nomura Financial Advisory And Securities (India) Pvt Ltd36
Morgan Stanley India Company Pvt Ltd34
GYR Capital Advisors Private Limited33
Swastika Investmart Ltd33
Inventure Merchant Banker Services Pvt Ltd32
Keynote Financial Services Ltd30
Axis Bank Limited29
Hdfc Bank Limited29
Unistone Capital Pvt Ltd25
Equirus Capital Private Limited25
Corporate Capitalventures Pvt Ltd24
Credit Suisse Securities (India) Private Limited23
Jefferies India Private Limited23
Anand Rathi Securities Limited22
Navigant Corporate Advisors Ltd22
Hsbc Securities & Capital Markets Pvt Ltd21
Interactive Financial Services Ltd21
Ubs Securities India Private Limited19
Yes Securities (India) Limited18
Almondz Global Securities Limited18
Clsa India Private Limited17
Centrum Capital Limited17
Narnolia Financial Services Ltd16
Uti Securities Ltd16
Nuvama Wealth Management Limited16
Share India Capital Services Private Limited16
Deutsche Equities India Private Limited15
Goldman Sachs (India) Securities Private Limited15
Holani Consultants Private Limited15
Beeline Broking Ltd15
Ambit Private Limited15
Karvy Investor Services Limited15
Chartered Capital And Investment Limited14
Monarch Networth Capital Ltd14
Intensive Fiscal Services Private Limited14
Yes Bank Limited14
Idfc Bank Limited13
Expert Global Consultants Private Limited13
Fast Track Finsec Pvt Ltd13
Saffron Capital Advisors Private Limited12
Corporate Strategic Allianz Ltd12
Bob Capital Markets Limited11
Srei Capital Markets Ltd11
Horizon Management Private Limited10
Mark Corporate Advisors Private Limited10
Ashika Capital Ltd10
Khambatta Securities Limited10
Isk Advisors Pvt Ltd9
Choice Capital Advisors Pvt Ltd9
Bnp Paribas8
Swaraj shares and securities private limited8
Systematix Corporate Services Limited8
Indian Overseas Bank8
Il&Fs Investsmart Securities Ltd8
Arihant Capital Markets Ltd7
Jm Morgan Stanley Private Limited7
Iti Capital Ltd7
Khandwala Securities Limited7
Indorient Financial Services Ltd7
Vivro Financial Services Private Limited7
Elara Capital (India) Private Limited6
Spa Capital Advisors Ltd6
Srujan Alpha Capital Advisors Llp6
Avendus Capital Pvt Ltd5
D And A Financial Services Private Ltd5
Pnb Investment Services Ltd5
Allahabad Bank5
Turnaround Corporate Advisors Private Limited4
Ekadrisht Capital Private Limited4
Vc Corporate Advisors Pvt Ltd (Vcapl)4
Emkay Global Financial Services Ltd4
Jawa Capital Services Private Limited4
Affinity Global Capital Market Private Limited4
Collins Stewart Inga Private Limited4
PL Capital Markets Private Limited4
Haitong Securities India Private Limited4
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The above is the list of merchant banks who handled the IPOs from 2007.