Merchant bankers also known as Book Running Lead Managers (BRLMs) play a vital role in the IPO process in India by guiding companies from initial preparation to final listing. They offer essential services such as IPO structuring, due diligence, pricing strategy, document filing and compliance with SEBI regulations. Serving as key intermediaries between issuers and investors, BRLMs help companies raise capital efficiently while navigating complex regulatory landscapes. Their expertise in valuation and market positioning ensures a smooth and successful IPO journey. Below is a curated list of merchant bankers active in mainboard IPOs highlighting their strong track record in managing end-to-end IPO processes and delivering successful listings.