India's primary market continues to witness remarkable momentum. According to a Business Standard report, the number of SEBI-registered merchant bankers has climbed to 244, the highest level since FY2000, reflecting strong demand for IPO-related advisory services.

The surge comes as companies across sectors increasingly tap the capital markets for fundraising amid robust investor participation and a thriving IPO ecosystem.

• SEBI now has 244 registered merchant bankers, the highest number in over two decades.
• The increase reflects continued strength in India's IPO market.
• More companies, including SMEs, are choosing to raise capital through stock market listings.
• Merchant bankers play a key role in managing IPOs, regulatory filings, pricing and issue management.

• Mainboard and SME IPO activity has remained strong.
• Higher fundraising has encouraged more advisory firms to enter merchant banking.
• Growing participation from Tier-II and Tier-III cities is widening the IPO ecosystem.
• Merchant bankers focused on SME listings are increasingly expanding into the mainboard segment.

• Merchant banking firms.
• Stock exchanges.
• Registrars and legal advisors.
• Brokerages and wealth management companies.
• Investors seeking new listing opportunities.

• Pipeline of upcoming IPOs.
• Quality of companies coming to market.
• SME versus mainboard listing trends.
• Subscription levels and listing performance.
• SEBI regulatory changes affecting primary markets.

Investor Takeaway

Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Regd Investment Adviser, observes that the sharp rise in merchant banker registrations reflects the growing maturity of India's capital markets rather than just a temporary IPO cycle. A healthy pipeline of quality listings can deepen the market and create fresh investment opportunities, but investors should continue evaluating each IPO on its business fundamentals, valuation and long-term growth prospects instead of relying solely on listing-day enthusiasm.

Source: Business Standard (as shown in the shared newspaper clipping).

Disclaimer: This article is for educational purposes only and should not be construed as investment advice. IPO investments involve market risks and investors should evaluate each issue carefully before investing.

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