Lead Manager Performance - By No. of Mainboard & SME IPOs managed: 2026

IPO Lead Manager Performance 2026 | Best Merchant Bankers for Mainboard/SME IPOs in 2026

This report helps investors understand which Lead Managers are most active in the IPO market by ranking them based on the number of IPOs managed in 2026 and summarising how those IPOs performed on listing.

A Lead Manager is a SEBI-registered Merchant Banker appointed by the company to plan, manage and execute the IPO. They are the architect and executor of the IPO, responsible for credibility, compliance, pricing and smooth listing, but the investment decision still rests with the investor.

In book-building IPOs, the Lead Manager responsible for price discovery is called the Book Running Lead Manager (BRLM).

Click on a Lead Manager’s name to view details of the IPOs managed, along with listing and post-listing performance.

Lead Manager Performance - By No. of Mainboard & SME IPOs managed: 2026

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Note:

  • Total IPOs: Number of IPOs managed by the Lead Manager during the year.
  • Positive Listing: Number of IPOs (out of total managed) that listed at a price higher than the issue price.
  • % of Positive Listing: Percentage of IPOs managed by the Lead Manager that listed above the issue price.
  • Negative Listing: Number of IPOs (out of total managed) that listed at a price lower than the issue price.
  • % of Negative Listing: Percentage of IPOs managed by the Lead Manager that listed below the issue price.
  • % Average Gains on Listing Day: Average percentage gain or loss of IPOs managed by the Lead Manager on their listing day.

If an IPO is handled by more than one merchant banker, credit is provided to all merchant bankers involved.

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IPO Lead Manager Performance 2026 | Best Merchant Bankers for Mainboard/SME IPOs in 2026