IPO lead managers

Book-running lead managers named on the cover of each offer document. The number of issues since 2025 each one is named on, mainboard and SME. A count of issues, not a ranking.

Lead managerIssuesMainboardSMELatest
JM Financial Limited393923 Sep
IIFL Capital Services Limited383823 Sep
Motilal Oswal Investment Advisors Limited29299 Sep
Axis Capital Limited27279 Sep
ICICI Securities Limited26269 Sep
Kotak Mahindra Capital Company Limited242417 Sep
Nuvama Wealth Management Limited15158 Sep
DAM Capital Advisors Limited14148 Sep
Morgan Stanley India Company Private Limited111123 Sep
Citigroup Global Markets India Private Limited101013 Jan
Equirus Capital Limited10109 Sep
Pantomath Capital Advisors Private Limited101011 Sep
SBI Capital Markets Limited101022 Sep
HSBC Securities8830 Jul
Jefferies India Private Limited8810 Aug
Nomura Financial Advisory8824 Aug
Capital Markets (India) Private Limited7730 Jul
Goldman Sachs (India) Securities Private Limited7722 Sep
J.P. Morgan India Private Limited7723 Feb
Systematix Corporate Services Limited7728 Aug
Choice Capital Advisors Private Limited6623 Sep
BofA Securities India Limited5512 Aug
IDBI Capital Markets & Securities Limited559 Sep
Anand Rathi Advisors Limited4417 Aug
Avendus Capital Private Limited4424 Aug
Beeline Capital Advisors Private Limited449 Apr
Emkay Global Financial Services Limited441 Sep
Intensive Fiscal Services Private Limited4421 Aug
Mefcom Capital Markets Limited441 Sep
Monarch Networth Capital Limited4427 Aug
Sarthi Capital Advisors Private Limited3320 Feb
Securities (India) Private Limited338 Dec
Securities Limited331 Jul
Smart Horizon Capital Advisors Private Limited3318 Aug
Ambit Private Limited2210 Dec
Arihant Capital Markets Limited2224 Mar
Aryaman Financial Services Limited2218 Aug
BNP Paribas2223 Feb
CLSA India Private Limited2210 Dec
Centrum Broking Limited227 Sep
Cumulative Capital Private Limited2210 Sep
GYR Capital Advisors Private Limited2218 Aug
HDFC Bank Limited2223 Jul
Holani Consultants Private Limited2224 Aug
Interactive Financial Services Limited2223 Feb
Keynote Financial Services Limited2224 Jun
Nirbhay Capital Services Private Limited229 Mar
PL Capital Markets Private Limited2224 Sep
PNB Investment Services Limited227 Sep
Share India Capital Services Private Limited21123 Sep
Sundae Capital Advisors Private Limited2230 Jul
UBS Securities India Private Limited227 Aug
Unistone Capital Private Limited2229 Sep
360 One WAM1117 Aug
A Financial Services Private Limited1114 Jul
BOB Capital Markets Limited1110 Jul
BOI Merchant Bankers Limited1129 Jun
Catalyst Capital Partners Private Limited115 Jun
Citigroup Global Markets India Private Limited J.P. Morgan India Private Limited1112 Feb
Dolat Finserv Private Limited1124 Aug
Elara Capital (India) Private Limited1119 Aug
Fedex Securities Private Limited1119 Aug
ICICI Securities Limitedand SBI Capital Markets Limited1123 Sep
IIFL Securities Limited116 Nov
Khambatta Securities Limited117 Aug
Khandwala Securities Limited1123 Sep
Marwadi Chandarana Intermediaries Brokers Private Limited1123 Sep
New Berry Capitals Private Limited1124 Aug
PhillipCapital (India) Private Limited1123 Sep
SKI Capital Services Limited1118 Sep
SMC Capitals Limited1122 Jan
Saffron Capital Advisors Private Limited1123 Sep
Shannon Advisors Private Limited1124 Aug
Srujan Alpha Capital Advisors LLP1123 Sep
Sumedha Fiscal Services Limited1112 Aug
Valmiki Leela Capital Private Limited111 Sep