Mainboard IPO Lead Managers in India: Find the List Of Merchant Bankers

Check out the extensive list of merchant bankers/lead managers for Mainboard IPOs in India. Lead Managers or Merchant bankers are SEBI-registered investment banks that manage the whole process of IPO. They are responsible for checking assets, valuation, the company’s financial background, handling the IPO process, and ensuring the proper use of funds.

IPO Lead managers assist with the price band of the IPO, they analyze the peer competition, provide advice on issue size vs offer for sale, as well as analyze the current market conditions. The following is a list of the Mainboard IPOs lead managers of 2025, professionals who have effectively helped companies manage the entire IPO process until the company goes public. 

This is showing a Mainboard IPOs lead managers’ list of 2025, where they have handled the process of Mainboard IPO’s from beginning to end. If you are also planning to list your company in the stock exchange, it is crucial to find a trusted Mainboard IPO merchant bankers for a smooth and successful listing of your company. 

The List of Merchant Bankers in India

Sr. No.Name of Merchant Banker
1ICICI Securities Limited
2Axis Capital Limited
3Kotak Mahindra Capital Company Limited
4Jm Financial Limited
5SBI Capital Markets Limited
6Iifl Securities Limited
7Citigroup Global Markets India Private Limited
8Edelweiss Financial Services Limited
9Dam Capital Advisors Limited
10Bofa Securities India Limited
11J.P. Morgan India Private Limited
12Motilal Oswal Investment Advisors Limited
13Morgan Stanley India Company Private Limited
14Idbi Capital Market Services Limited
15Equirus Capital Private Limited
16Nomura Financial Advisory And Securities (India) Private Limited
17Axis Bank Limited
18Hdfc Bank Limited
19Jefferies India Private Limited
20Credit Suisse Securities (India) Private Limited
21Hsbc Securities & Capital Markets Private limited
22Nuvama Wealth Management Limited
23Anand Rathi Securities Limited
24Keynote Financial Services Limited
25Ambit Private Limited
26Clsa India Private Limited
27Goldman Sachs (India) Securities Private Limited
28Yes Securities (India) Limited
29Deutsche Equities India Private Limited
30Unistone Capital Private Limited
31Intensive Fiscal Services Private Limited
32Idfc Bank Limited
33Bob Capital Markets Limited
34Karvy Investor Services Limited
35Ubs Securities India Private Limited
36Almondz Global Securities Limited
37Pantomath Capital Advisors Private Limited
38Bnp Paribas
39Ashika Capital Limited
40Chartered Capital And Investment Limited
41Yes Bank Limited
42Srei Capital Markets Limited
43Il&Fs Investsmart Securities Limited
44Uti Securities Limited
45Aryaman Financial Services Limited
46Iti Capital Limited
47Smart Horizon Capital Advisors Private Limited
48Saffron Capital Advisors Private Limited
49Elara Capital (India) Private Limited
50Jm Morgan Stanley Private Limited
51Centrum Capital Limited
52Pnb Investment Services Limited
53Emkay Global Financial Services Limited
54Inga Ventures Private Limited
55Haitong Securities India Private Limited
56Arihant Capital Markets Limited
57Smc Capitals Limited
58Macquarie India Advisory Services Private Limited
59Collins Stewart Inga Private Limited
60PL Capital Markets Private Limited
61Fedex Securities Private Limited
62Monarch Networth Capital Limited
63Systematix Corporate Services Limited
64Khambatta Securities Limited
65Bajaj Capital Limited
66Holani Consultants Private Limited
67Indusind Bank Limited
68Batlivala & Karani Securities India Private Limited
69Spark Capital Advisors (India) Private Limited
70Vivro Financial Services Private Limited
71Sarthi Capital Advisors Private Limited
72Barclays Securities (India) Private Limited
73Religare Securities Limited
74Standard Chartered Securities (India) Limited
75Avendus Capital Private Limited
76Corporate Strategic Allianz Limited
77D And A Financial Services Private Limited
78Antique Capital Markets Private Limited
79Indbank Merchant Banking Services Limited
80Spa Capital Advisors Limited
81Allahabad Bank
82Hem Securities Limited
83Gretex Corporate Services Limited
84Interactive Financial Services Limited
85Mirae Asset Capital Markets (India) Private Limited
86Choice Capital Advisors Private Limited
87First Overseas Capital Limited
88Indorient Financial Services Limited
89Incred Capital Financial Services Private Limited
90Corporate Capitalventures Private Limited
91Investec Capital Services (India) Private Limited
92Atherstone Capital Markets Limited
93Comfort Securities Private Limited
94Vc Corporate Advisors Private Limited (Vcapl)
95Comfort Securities Limited
96Fortune Financial Services (India) Limited
97A.K. Capital Services Limited
98Kjmc Corporate Advisors (India) Limited
99Nexgen Capitals Limited
100Corpwis Advisors Private Limited
101Almondz Financial Services Limited
102Beeline Capital Advisors Private Limited
103Sundae Capital Advisors