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Top 10 Merchant Bankers in India 2020-21

Choosing a merchant banker is very important for the success of an IPO. A good merchant banker is well versed with the IPO strategies like valuation, pricing, timing, analyses and much more. The below list displays the top 10 merchant banks in India based on the number of IPOs handled by them and their success rate in terms of listing day performance.

Top 10 Merchant Bankers in India 2020-21

Merchant Banker No. of IPO handled SME IPOs Mainboard IPOs Positive Listing Negative Listing Average Gain (%)
ICICI Securities Limited160 (0%)16 (100%)11 (69%)5 (31%)34.39%
Axis Capital Limited120 (0%)12 (100%)6 (50%)6 (50%)8.99%
Jm Financial Limited100 (0%)10 (100%)6 (60%)4 (40%)25.41%
SBI Capital Markets Limited90 (0%)9 (100%)3 (33%)6 (67%)9.50%
Kotak Mahindra Capital Company Limited90 (0%)9 (100%)7 (78%)2 (22%)30.48%
Iifl Securities Ltd90 (0%)9 (100%)4 (44%)5 (56%)27.38%
Edelweiss Financial Services Ltd70 (0%)7 (100%)5 (71%)2 (29%)50.08%
Nomura Financial Advisory And Securities (India) Pvt Ltd50 (0%)5 (100%)5 (100%)-42.50%
Citigroup Global Markets India Private Limited50 (0%)5 (100%)3 (60%)2 (40%)1.39%
Aryaman Financial Services Limited44 (100%)0 (0%)3 (75%)1 (25%)-1.18%

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