native investment banking platform; secures $5 mn capital from RTP Global

As IPOs in India have surged in recent years, S45 has introduced India’s first AI-native investment banking platform, designed to scale tech infrastructure that automates data-heavy tasks in IPO processes, aiming for institutional-grade precision in capital market exits. The launch was accompanied by a $5 million capital raise, primarily from RTP Global, on February 17, 2026, at the AI Impact Summit in New Delhi. The timing is notable. India was the most active IPO market globally in 2025 with 367 listings, compared to 223 in the US. In 2024, the country saw 339 IPOs. As volumes rise, so does the pressure on execution. Also Read: Big announcements on India-based AI models soon, says Nandan Nilekani Founded by Deepank Bhandari, Pankaj Harlalka, Aman Singh, and Tushar Sharma, S45 focuses on SME and mainboard IPOs. The platform aims to automate compliance-heavy and data-intensive parts of the listing process, from readiness checks and valuation inputs to book-building analytics. During its pilot phase, the company says it supported 26 IPOs across sectors including technology, aerospace, healthcare, and industrials, helping raise ₹1,120.8 crore. These mandates recorded an average subscription of 168.4 times, with peaks of 325 times. Total bids across these issues stood at ₹3,64,719 crore. Issuers saw an average listing gain of 43.1% and a 47.1% average listing pop over the past twelve months. S45’s core pitch is speed and visibility. It claims to reduce Draft Red Herring Prospectus (DRHP) preparation timelines to seven days, compared to the months it typically takes. The platform also offers a 30-minute IPO readiness assessment and embeds AI-driven validation and regulatory mapping, providing boards and CFOs with real-time dashboards on compliance and investor demand. “India’s capital markets have entered an era of unprecedented scale and maturity, yet the execution frameworks powering most IPOs remain anchored in high-friction, legacy methods that haven’t kept pace with this growth,” said Deepank Bhandari, Co-Founder of S45. "This disconnect often leaves even the strongest companies navigating a ‘black box’ of fragmented workflows and manual administrative hurdles during their most critical transition. At S45, our strategy is to provide an institutional-grade infrastructure layer that empowers issuers with data-validated precision," Bhandari said. "By integrating AI-driven governance and real-time demand analytics, we are moving the industry beyond traditional approximation toward a new standard of transparency and execution certainty, fulfilling the promise of ‘AI for All’ in the financial sector." Investment banks (e.g., Kotak, Axis Capital) and Big 4 firms use internal SaaS tools for compliancea and valuation but rely on manual workflows for DRHP, taking a longer span. As more companies tap public markets, the focus is shifting from just getting listed to how efficiently that journey is managed.