IPO Lead Manager Performance 2025

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The report about IPO Lead Manager performance in 2025. Compare lead managers in India by their listing day success and failure of the IPO they handled. The report includes both Mainboard and SME IPOs.

To a great extent, the success or failure of an IPO depends on a lead manager. The lead manager decides the pricing, dates, size of IPO. They also help the company sell its IPO shares to public and institutional buyers. Most investors and IPO analysts check the profile of a lead manager before applying to an IPO.

The lead manager or merchant banker is a SEBI-registered financial institution. They play the most critical role in the IPO process. The book-running lead manager works closely with the company from day one until the IPO shares are listed on the stock exchanges. They help companies prepare for IPO, write the DRHP / RHP documents and get them approved by the exchanges and SEBI. They decide the offer price, public issue dates and listing dates of the IPO in consultation with the company. They also take care of regulatory requirements and educate the company on pre and post-IPO compliances.

The below report shows the performance of a lead manager for 2025 IPO’s. It tries to answer questions like:

How many IPO’s were managed by a lead manager?
How many of these IPO gave listing gains to investors?
How many IPOs list at the exchange below their issue price?
How much average gain/loss investors make on listing day?

<< Year 2024

2025

Year 2026 >>

IPO Merchant Banker Performance 2025

Lead Manager	Total IPOs	Positive listing	% of Positive listing	Negative listing	% of Negative listing	Average gains
Beeline Capital Advisors Pvt Ltd	5	5	100%	0	0%	16.39%
Smart Horizon Capital Advisors Private Limited	4	4	100%	0	0%	38.93%
Motilal Oswal Investment Advisors Limited	3	2	67%	1	33%	15.07%
GYR Capital Advisors Private Limited	3	2	67%	1	33%	20.34%
Aryaman Financial Services Limited	2	2	100%	0	0%	15.44%
Horizon Management Private Limited	2	0	0%	2	100%	-12.90%
SKI Capital Services Limited	2	1	50%	1	50%	39.83%
SBI Capital Markets Limited	2	2	100%	0	0%	14.33%
Indorient Financial Services Ltd	1	1	100%	0	0%	19.92%
Hem Securities Limited	1	1	100%	0	0%	0.00%
Sarthi Capital Advisors Private Limited	1	1	100%	0	0%	40.00%
Smc Capitals Limited	1	1	100%	0	0%	16.07%
Interactive Financial Services Ltd	1	0	0%	1	100%	-6.62%
Kotak Mahindra Capital Company Limited	1	0	0%	1	100%	-0.09%
Morgan Stanley India Company Pvt Ltd	1	0	0%	1	100%	-0.09%
Jefferies India Private Limited	1	0	0%	1	100%	-0.09%
Corporate Makers Capital Ltd.	1	0	0%	1	100%	-14.10%
Unistone Capital Pvt Ltd	1	0	0%	1	100%	-15.99%
Marwadi Chandarana Intermediaries Brokers Pvt. Ltd.	1	1	100%	0	0%	99.49%
Nuvama Wealth Management Limited	1	1	100%	0	0%	28.63%
Almondz Financial Services Ltd	1	1	100%	0	0%	5.00%
Narnolia Financial Services Ltd	1	1	100%	0	0%	99.44%
Hdfc Bank Limited	1	1	100%	0	0%	0.02%
Finshore Management Services Limited	1	1	100%	0	0%	99.50%
Sundae Capital Advisors	1	1	100%	0	0%	53.10%
Navigant Corporate Advisors Ltd	1	0	0%	1	100%	-16.00%
Iifl Securities Ltd	1	1	100%	0	0%	16.68%
Vivro Financial Services Private Limited	1	1	100%	0	0%	99.49%

<< Year 2024

2025

Year 2026 >>

Please note

The report only considers IPO which are listed on the stock exchanges. The IPO’s which are in progress or withdrawn are not considered in this report.
This report shows the number of IPO handled by the lead manager in the calendar year 2025.

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