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Merchant Bankers in Mumbai

A lead manager is one of the most critical intermediaries in an IPO process. Issuers need to be in constant touch with the merchant banker throughout the entire IPO process and hence it is preferred to have a merchant banker near to the issuer location.

Here's the list of merchant bankers in Mumbai with their address details and their IPO handling experience and performance.

Mumbai's Merchant Bankers List

Merchant Banker State City No. of IPO handled SME IPOs Mainboard IPOs Performance
Ajcon Global Services LimitedMaharashtraMumbai22 (100.00%)-
Allahabad BankMaharashtraMumbai5-5 (100.00%)
Almondz Global Securities LimitedMaharashtraMumbai19-19 (100.00%)
Ambit Private LimitedMaharashtraMumbai16-16 (100.00%)
Anand Rathi Securities LimitedMaharashtraMumbai22-22 (100.00%)
Antique Capital Markets Pvt LtdMaharashtraMumbai2-2 (100.00%)
Arihant Capital Markets LtdMaharashtraMumbai73 (42.86%)4 (57.14%)
Aryaman Financial Services LimitedMaharashtraMumbai9484 (89.36%)10 (10.64%)
Ashika Capital LtdMaharashtraMumbai11-11 (100.00%)
Asit C. Mehta Investment Interrmediates LtdMaharashtraMumbai11 (100.00%)-
Atherstone Capital Markets LimitedMaharashtraMumbai3-3 (100.00%)
Avendus Capital Pvt LtdMaharashtraMumbai3-3 (100.00%)
Axis Bank LimitedMaharashtraMumbai30-30 (100.00%)
Axis Capital LimitedMaharashtraMumbai171-171 (100.00%)
Barclays Securities (India) Private LimitedMaharashtraMumbai2-2 (100.00%)
Batlivala & Karani Securities India Private LimitedMaharashtraMumbai2-2 (100.00%)
Bcb Brokerage Private LimitedMaharashtraMumbai33 (100.00%)-
Bnp ParibasMaharashtraMumbai9-9 (100.00%)
Bob Capital Markets LimitedMaharashtraMumbai15-15 (100.00%)
Bofa Securities India LimitedMaharashtraMumbai48-48 (100.00%)
Boi Merchant Bankers LtdMaharashtraMumbai22 (100.00%)-
Bonanza Portfolio LimitedMaharashtraMumbai11 (100.00%)-
Canara Bank Merchant Banking DivisionMaharashtraMumbai1-1 (100.00%)
Capitalsquare Advisors Private LimitedMaharashtraMumbai33 (100.00%)-
Centrum Capital LimitedMaharashtraMumbai21-21 (100.00%)
Chartered Finance Management LtdMaharashtraMumbai11 (100.00%)-
Choice Capital Advisors Pvt LtdMaharashtraMumbai98 (88.89%)1 (11.11%)
Citigroup Global Markets India Private LimitedMaharashtraMumbai75-75 (100.00%)
Ckp Financial Services Private LimitedMaharashtraMumbai22 (100.00%)-
Collins Stewart Inga Private LimitedMaharashtraMumbai4-4 (100.00%)
Comfort Securities LimitedMaharashtraMumbai52 (40.00%)3 (60.00%)
Credit Suisse Securities (India) Private LimitedMaharashtraMumbai24-24 (100.00%)
Cumulative Capital Private LimitedMaharashtraMumbai11 (100.00%)-
Dalmia Securities Private LimitedMaharashtraMumbai0--
Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)MaharashtraMumbai53-53 (100.00%)
Deutsche Equities India Private LimitedMaharashtraMumbai16-16 (100.00%)
Edelweiss Financial Services LtdMaharashtraMumbai74-74 (100.00%)
Elara Capital (India) Private LimitedMaharashtraMumbai8-8 (100.00%)
Emkay Global Financial Services LtdMaharashtraMumbai4-4 (100.00%)
Equirus Capital Private LimitedMaharashtraMumbai27-27 (100.00%)
Ernst & Young Merchant Banking Services LlpMaharashtraMumbai0--
Fedex Securities Pvt LtdMaharashtraMumbai4544 (97.78%)1 (2.22%)
First Call India Equity Advisors Private LimitedMaharashtraMumbai11 (100.00%)-
First Overseas Capital LimitedMaharashtraMumbai5453 (98.15%)1 (1.85%)
Fortune Financial Services (India) LimitedMaharashtraMumbai1-1 (100.00%)
Goldman Sachs (India) Securities Private LimitedMaharashtraMumbai15-15 (100.00%)
Gretex Corporate Services LimitedMaharashtraMumbai4847 (97.92%)1 (2.08%)
Haitong Securities India Private LimitedMaharashtraMumbai4-4 (100.00%)
Hdfc Bank LimitedMaharashtraMumbai29-29 (100.00%)
Hem Securities LimitedMaharashtraMumbai125121 (96.80%)4 (3.20%)
Hsbc Securities & Capital Markets Pvt LtdMaharashtraMumbai21-21 (100.00%)
ICICI Securities LimitedMaharashtraMumbai181-181 (100.00%)
Idbi Capital Market Services LimitedMaharashtraMumbai403 (7.50%)37 (92.50%)
Idfc Bank LimitedMaharashtraMumbai13-13 (100.00%)
Iifl Securities LtdMaharashtraMumbai98-98 (100.00%)
Il&Fs Investsmart Securities LtdMaharashtraMumbai9-9 (100.00%)
Incred Capital Financial Services Pvt LtdMaharashtraMumbai1-1 (100.00%)
InCred Capital Wealth Portfolio Managers Private LimitedMaharashtraMumbai0--
Indbank Merchant Banking Services LimitedMaharashtraMumbai2-2 (100.00%)
Indusind Bank LimitedMaharashtraMumbai3-3 (100.00%)
Inga Ventures Pvt LtdMaharashtraMumbai3-3 (100.00%)
Intensive Fiscal Services Private LimitedMaharashtraMumbai133 (23.08%)10 (76.92%)
Inventure Merchant Banker Services Pvt LtdMaharashtraMumbai3232 (100.00%)-
Investec Capital Services (India) Pvt LtdMaharashtraMumbai1-1 (100.00%)
Iti Capital LtdMaharashtraMumbai6-6 (100.00%)
J.P. Morgan India Private LimitedMaharashtraMumbai40-40 (100.00%)
Jefferies India Private LimitedMaharashtraMumbai22-22 (100.00%)
Jm Financial LimitedMaharashtraMumbai127-127 (100.00%)
Jm Morgan Stanley Private LimitedMaharashtraMumbai7-7 (100.00%)
Keynote Financial Services LtdMaharashtraMumbai336 (18.18%)27 (81.82%)
Khambatta Securities LimitedMaharashtraMumbai108 (80.00%)2 (20.00%)
Khandwala Securities LimitedMaharashtraMumbai86 (75.00%)2 (25.00%)
Kjmc Corporate Advisors (India) LimitedMaharashtraMumbai21 (50.00%)1 (50.00%)
Kotak Mahindra Capital Company LimitedMaharashtraMumbai162-162 (100.00%)
Macquarie India Advisory Services Private LimitedMaharashtraMumbai3-3 (100.00%)
Mark Corporate Advisors Private LimitedMaharashtraMumbai99 (100.00%)-
Mirae Asset Capital Markets (India) Private LimitedMaharashtraMumbai1-1 (100.00%)
Monarch Networth Capital LtdMaharashtraMumbai1613 (81.25%)3 (18.75%)
Morgan Stanley India Company Pvt LtdMaharashtraMumbai34-34 (100.00%)
Motilal Oswal Investment Advisors LimitedMaharashtraMumbai39-39 (100.00%)
Navigant Corporate Advisors LtdMaharashtraMumbai2222 (100.00%)-
New Berry Capitals Private LimitedMaharashtraMumbai0--
Nomura Financial Advisory And Securities (India) Pvt LtdMaharashtraMumbai35-35 (100.00%)
Nuvama Wealth Management LimitedMaharashtraMumbai12-12 (100.00%)
Onelife Capital Advisors Pvt LtdMaharashtraMumbai1-1 (100.00%)
Pantomath Capital Advisors Pvt LtdMaharashtraMumbai113104 (92.04%)9 (7.96%)
PhillipCapital India Private LimitedMaharashtraMumbai0--
Pioneer Investcorp LimitedMaharashtraMumbai0--
PL Capital Markets Private LimitedMaharashtraMumbai51 (20.00%)4 (80.00%)
Pnb Investment Services LtdMaharashtraMumbai6-6 (100.00%)
Prime Securities LimitedMaharashtraMumbai0--
Religare Securities LtdMaharashtraMumbai3-3 (100.00%)
Saffron Capital Advisors Private LimitedMaharashtraMumbai133 (23.08%)10 (76.92%)
SBI Capital Markets LimitedMaharashtraMumbai109-109 (100.00%)
Shreni Shares LimitedMaharashtraMumbai4444 (100.00%)-
Small Industries Development Bank Of India (Sidbi)MaharashtraMumbai33 (100.00%)-
Smc Capitals LimitedMaharashtraMumbai31 (33.33%)2 (66.67%)
Spa Capital Advisors LtdMaharashtraMumbai71 (14.29%)6 (85.71%)
Srujan Alpha Capital Advisors LlpMaharashtraMumbai55 (100.00%)-
Standard Chartered Securities (India) LimitedMaharashtraMumbai3-3 (100.00%)
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  • The location of the merchant banker is based on the registered/correspondence address.
  • The merchant banker list is based on the IPOs handled from 2007 till now by the merchant bankers.