“IPO Service From Education To Execution”
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Nirbhay Capital Services Private Limited

Nirbhay Capital Services Private Limited is a SEBI-registered Category I Merchant Banker based in Ahmedabad since 2006. They provide services such as loan syndication, equity and debt placements, mergers and acquisitions, corporate restructuring and financial advisory, delivering comprehensive solutions to support business growth and capital market access.

SME IPOs

Total listings managed

3

Year-wise SME IPO Listing

Year No. of IPOs
FY26 2
FY24 1

SME IPOs listing on Exchange

NSE Emerge
1 (33%)
BSE SME
2 (67%)

SME IPOs by Subscription

2 (67%)
Subscribed upto 5 times
0 (0%)
Subscribed 5 to 25 times
1 (33%)
Subscribed 25 to 50 times
0 (0%)
Subscribed 50 to 100 times
0 (0%)
Subscribed more than 100 times

SME IPOs by IPO Size

Very Small (< 5 Cr) 0 (0%)
Small (5-10 Cr) 0 (0%)
Medium (10-25 Cr) 0 (0%)
Large (25-50 Cr) 3 (100%)
Very Large (>50 Cr) 0 (0%)

Upcoming SME IPOs

Frequently Asked Questions

CapitalSquare Advisors is a SEBI-registered Category I Merchant Banker offering IPO management, debt and equity syndication, M&A advisory, restructuring and corporate finance advisory services.
Extensive industry relationships across investors, corporates and financial institutions facilitate smooth fundraises.
Led by seasoned Chartered Accountants with over 20 years of experience in finance and investment banking
Listed 147 SME IPOs in 2025, raising over ₹6,857 crore, with strong listing gains.