Investment banking report

AI visibility and ranking report

Grid of the top 10 investment banking brands in India ranked by AI visibility: 01 SEBI, 02 NSE, 03 BSE, 04 Kotak Mahindra Cap, 05 ICICI Securities, 06 JM Financial, 07 Sapient Services, 08 Axial, 09 Avendus, 10 DealPlexus.
The 10 brands AI answer engines named most often for investment banking in India, ranked by visibility score across 25 buyer questions and 375 citations. Full rankings, the scoring method and the sources behind every answer follow below.
Industry
Capital markets
Sub-industry
Investment banking
Country
India
Published
Q3-CY26
Categories
5
Questions
25
Citations
375
Domains
224

Disclaimer: This is original research data created using AI simulations, so treat it as an opinion piece rather than a statement of fact. AI models can make mistakes, and the figures here reflect what engines returned on the run date. Do your own research before you make any decision based on it.

Executive summary

We asked four AI answer engines the 25 questions a company asks when it raises capital or sells itself in India. The run named 69 organizations across 224 domains, the widest spread of any report in this industry.

SEBI leads on visibility at 48.0 percent and is named in 15 of the 25 questions. The two exchanges follow at 28.8 and 21.6 percent. The first investment bank, Kotak Mahindra Capital, is fourth on 17.6 percent.

The banks that actually do the deals are close to invisible. Only about 22 of the 69 named organizations are investment banks or deal advisers, and in the whole category about selling a company not one reaches the top five.

Top 10 brands by AI visibility score

#BrandTypeVisibilityShare
1SEBIRegulator48.0%
2NSEStock exchange28.8%
3BSEStock exchange21.6%
4Kotak Mahindra CapIndian IB17.6%
5ICICI SecuritiesIndian IB8.8%
6JM FinancialIndian IB8.0%
7Sapient ServicesValuation firm7.2%
8AxialUS deal network6.4%
9AvendusIndian IB5.6%
10DealPlexusDeal platform5.6%

The visibility score counts where each entity is named. A first place mention earns a full point, fifth place earns a fifth of one, and the total is divided by all 25 questions. Every entity named is ranked.

Type shows what kind of organization each entity is. AI engines name the regulator, exchanges, law firms, valuation practices, compliance services and software vendors alongside banks. All of them are ranked here, because all of them take up space in the answer.

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Top 25 cited domains

These 25 domains are the most cited across all 25 questions. The full run produced 375 citations from 224 domains, and the top 25 carry only 36.8 percent of them, the loosest concentration measured in this industry.

#DomainCitationsShareCitation volume
1business-standard.com174.5%
2chittorgarh.com164.3%
3ipoplatform.com133.5%
4axial.net71.9%
5s45.ai71.9%
6investorgain.com61.6%
7sebi.gov.in61.6%
8angelone.in51.3%
9bajajfinserv.in51.3%
10sapientservices.com51.3%
11ctacquisitions.com41.1%
12groww.in41.1%
13indiainfoline.com41.1%
14lexology.com41.1%
15mnclgroup.com41.1%
16quintedge.com41.1%
175paisa.com30.8%
18blinkx.in30.8%
19dealplexus.com30.8%
20dfinsolutions.com30.8%
21divestopedia.com30.8%
22gretexcorporate.com30.8%
23indiabizforsale.com30.8%
24ipocentral.in30.8%
25motilaloswal.com30.8%
Get the citation data for your own domain set. GetXEO is the number one tool for AEO, GEO and SEO, built to get your brand named and cited in answers buyers already trust. Ask for the full data.

Categories and why we chose them

We chose five categories that follow a company from picking a bank to closing a raise. Each one drives real search demand, carries large fees, and forces an engine to name specific firms rather than give general advice.

#Category nameReason for selection
1Choosing a bankerOne mandate can be worth crores in fees, so this is the most valuable question in the report by a wide margin. It is also the only category where the banks themselves reliably appear in the answer.
2Going publicTaking a company public is the largest single transaction most founders ever run. The questions are procedural and have correct answers, which makes this the category where the regulator should and does dominate.
3Fees and mandatesWhat a bank charges and what it signs up to are the two things an issuer most wants to know and the two things the market publishes least. Whoever answers them shapes what a client thinks is normal.
4Selling or mergingSelling a company is a once in a lifetime decision made by someone with no experience of it. The adviser who is present at the search stage is often the adviser who gets the mandate.
5Private capitalMost Indian companies raise private money long before they consider a public issue. These questions catch a founder at the earliest point a banker could be hired, which makes them the cheapest mandates to win.

Category 1 of 5

Choosing a banker

Five questions about picking a bank: who the top firms are, which merchant banker to use for a public issue, how bulge bracket and boutique differ, how many lead managers are needed, and who has done the most issues.

Top 5 brands

#BrandTypeVisibilityShare
1Kotak Mahindra CapIndian IB64.0%
2ICICI SecuritiesIndian IB44.0%
3SEBIRegulator40.0%
4NSEStock exchange24.0%
5JM FinancialIndian IB24.0%

Top 10 cited domains

#DomainCitationsShareCitation volume
1chittorgarh.com79.3%
2ipoplatform.com68.0%
3business-standard.com45.3%
4investorgain.com45.3%
5preplounge.com34.0%
6quintedge.com34.0%
75paisa.com22.7%
8ctacquisitions.com22.7%
9ipoguru.in22.7%
10s45.ai22.7%

Question level summary

#QuestionTop 5 brandsTop 5 citation domains
1.1Which are the top investment banks in India?
  • Kotak Mahindra Cap
  • ICICI Securities
  • JM Financial
  • Axis Capital
  • Morgan Stanley
  • preplounge.com
  • thinkingbridge.in
  • thebusinessbanks.com
  • 5paisa.com
  • whalesbook.com
1.2Which merchant banker should I choose for an IPO in India?
  • SEBI
  • Kotak Mahindra Cap
  • ICICI Securities
  • NSE
  • BSE
  • ipoplatform.com
  • ipoplatform.com
  • shannon.co.in
  • s45.ai
  • investorgain.com
1.3What is the difference between a bulge bracket and a boutique investment bank?
  • Goldman Sachs
  • Morgan Stanley
  • JPMorgan
  • Avendus
  • Ambit
  • mergersandinquisitions.com
  • wallstreetmojo.com
  • preplounge.com
  • ctacquisitions.com
  • ctacquisitions.com
1.4How many lead managers does an IPO need in India?
  • SEBI
  • NSE
  • BSE
  • Kotak Mahindra Cap
  • IIFL Capital
  • chittorgarh.com
  • sebi.gov.in
  • ipoplatform.com
  • nationalheraldindia.com
  • lawrbit.com
1.5Which investment bank has handled the most IPOs in India?
  • Kotak Mahindra Cap
  • ICICI Securities
  • JM Financial
  • IIFL Capital
  • Motilal Oswal
  • chittorgarh.com
  • chittorgarh.com
  • chittorgarh.com
  • chittorgarh.com
  • investorgain.com

Question 1.1

Which are the top investment banks in India?

The engines answer with training company listicles. Five of the fifteen sources sell investment banking courses rather than advise on deals, and the league table coverage that would actually answer the question sits below them.

Top 5 brands named

  1. Rank 1Kotak Mahindra Cap
  2. Rank 2ICICI Securities
  3. Rank 3JM Financial
  4. Rank 4Axis Capital
  5. Rank 5Morgan Stanley

Top 15 citations

#Citation domainCitation URLActual page
1preplounge.comhttps://www.preplounge.com/en/blog/finance/investment-banking/firms/indiaClick here
2thinkingbridge.inhttps://www.thinkingbridge.in/blog/top-20-investment-banking-companies-in-india-2026-updateClick here
3thebusinessbanks.comhttps://www.thebusinessbanks.com/investment-banking-companies-in-india/Click here
45paisa.comhttps://www.5paisa.com/news/jm-financial-iifl-motilal-oswal-kotak-lead-ipo-mandates-in-2025-league-tableClick here
5whalesbook.comhttps://www.whalesbook.com/news/English/bankingfinance/Foreign-Giants-Storm-Indias-ECM-Ranks-JP-Morgan-and-Morgan-Stanley-Oust-Kotak-ICICI-See-Who-Fell/6958c0025012e0ea75261e19Click here
6business-standard.comhttps://www.business-standard.com/article/markets/indian-investment-bankers-tighten-grip-over-the-league-table-121082700037_1.htmlClick here
7euromoney.comhttps://www.euromoney.com/article/2donqmnf4mk3r1xqppptt/awards/securities-houses-awards/best-for-equities-in-india-kotak-mahindra-bank/Click here
8zelleducation.comhttps://www.zelleducation.com/blog/list-of-investment-banks-in-india/Click here
9analyticsinsight.nethttps://www.analyticsinsight.net/banking/best-investment-banking-firms-in-india-for-2025Click here
10imarticus.orghttps://imarticus.org/blog/investment-banks-in-india/Click here
11investkraft.comhttps://www.investkraft.com/blog/list-of-investment-banks-2026Click here
12quintedge.comhttps://quintedge.com/blog/investment-banking-companies-in-indiaClick here
13amquesteducation.comhttps://amquesteducation.com/blog/investment-banking-companies-in-india/Click here
14mnclgroup.comhttps://www.mnclgroup.com/investment-banking-firms-in-india-rankings-deals-careersClick here
15business-standard.comhttps://www.business-standard.com/article/specials/domestic-investment-banks-dominate-2016-ipo-league-table-116122600042_1.htmlClick here

Question 1.2

Which merchant banker should I choose for an IPO in India?

The regulator leads a commercial question, because the only hard fact available is who is registered. No bank ranks a page of its own, and the top sources are registry listings rather than credentials.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2Kotak Mahindra Cap
  3. Rank 3ICICI Securities
  4. Rank 4NSE
  5. Rank 5BSE

Top 15 citations

#Citation domainCitation URLActual page
1ipoplatform.comhttps://www.ipoplatform.com/merchant-bankers-mainboardClick here
2ipoplatform.comhttps://www.ipoplatform.com/merchant-bankers-listClick here
3shannon.co.inhttps://shannon.co.in/blog-detail/how-to-choose-the-right-ipo-merchant-bankerClick here
4s45.aihttps://s45.ai/feeds/blog/top-merchant-bankers-sme-ipo-indiaClick here
5investorgain.comhttps://www.investorgain.com/report/list-of-merchant-bankers-in-india/595/sme/?year=2024&sort=Total+IPOsdescClick here
6ipowatch.inhttps://ipowatch.in/sme-ipo-lead-managers-list/Click here
7sethspro.comhttps://www.sethspro.com/post/sebi-merchant-banker-regulations-ipoClick here
8ipoplatform.comhttps://www.ipoplatform.com/sme-ipo-eligibility-criteria/appointment-of-lead-managers-other-intermediaries-and-compliance-officerClick here
9s45.aihttps://s45.ai/feeds/blog/ipo-advisory-firms-indiaClick here
10ipohub.orghttps://www.ipohub.org/article/investment-banks-ipos-selecting-bookrunnerClick here
11gilmartinir.comhttps://gilmartinir.com/preparing-for-an-ipo-considerations-for-choosing-investment-bank-partners/Click here
12orrick.comhttps://www.orrick.com/en/Insights/2018/06/Selecting-an-Underwriter-for-an-IPOClick here
13finrep.aihttps://www.finrep.ai/blog/ipo-underwriter-selection-process-a-2026-cfo-walkthroughClick here
14ipoplatform.comhttps://www.ipoplatform.com/blogs/top-10-merchant-bankers-in-india/133Click here
15esi.inhttps://esi.in/finance/investments/sebi/merchant-bankers/Click here

Question 1.3

What is the difference between a bulge bracket and a boutique investment bank?

An American question asked in an Indian market. Most of the fifteen sources are foreign, the two banks named first are American, and the distinction itself is a Wall Street category rather than an Indian one.

Top 5 brands named

  1. Rank 1Goldman Sachs
  2. Rank 2Morgan Stanley
  3. Rank 3JPMorgan
  4. Rank 4Avendus
  5. Rank 5Ambit

Top 15 citations

#Citation domainCitation URLActual page
1mergersandinquisitions.comhttps://mergersandinquisitions.com/bulge-bracket-banks/Click here
2wallstreetmojo.comhttps://www.wallstreetmojo.com/bulge-bracket/Click here
3preplounge.comhttps://www.preplounge.com/en/blog/finance/investment-banking/firms/bulge-bracket-vs-boutiqueClick here
4ctacquisitions.comhttps://ctacquisitions.com/boutique-investment-bank-vs-bulge-bracket/Click here
5ctacquisitions.comhttps://ctacquisitions.com/boutique-investment-banks-explained/Click here
6investmentbankingcouncil.orghttps://www.investmentbankingcouncil.org/blog/bulge-bracket-vs-boutique-core-differences-explainedClick here
7quintedge.comhttps://quintedge.com/blog/types-of-investment-banksClick here
8quintedge.comhttps://quintedge.com/blog/boutique-investment-banks-indiaClick here
9elitecareersstrategy.medium.comhttps://elitecareersstrategy.medium.com/bulge-bracket-vs-boutique-investment-banks-understanding-the-key-differences-from-an-11a330173df5Click here
10preplounge.comhttps://www.preplounge.com/finance-forum/bulge-bracket-elite-boutiqe-and-middle-market-firms-whats-the-difference-22089Click here
11blaylockvan.comhttps://blaylockvan.com/boutique-vs-mm-investment-banks-the-distinctive-edge-of-boutique-institutions/Click here
12ibinterviewquestions.comhttps://ibinterviewquestions.com/blog/bulge-bracket-vs-boutique-vs-middle-marketClick here
13dealroom.nethttps://dealroom.net/blog/best-investment-banks-to-work-forClick here
14henryharvin.comhttps://www.henryharvin.com/blog/investment-banking-companies-india/Click here
15ventureintelligence.blogspot.comhttps://ventureintelligence.blogspot.com/2023/07/avendus-tops-league-table-for.htmlClick here

Question 1.4

How many lead managers does an IPO need in India?

The answer is one. The regulator requires at least a single lead manager and no longer sets a ladder by issue size, so the five and ten manager syndicates on large issues are a commercial choice rather than a rule.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2NSE
  3. Rank 3BSE
  4. Rank 4Kotak Mahindra Cap
  5. Rank 5IIFL Capital

Top 15 citations

#Citation domainCitation URLActual page
1chittorgarh.comhttps://www.chittorgarh.com/glossary/book-running-lead-manager/96/Click here
2sebi.gov.inhttps://www.sebi.gov.in/sebi_data/faqfiles/may-2025/1747290561386.pdfClick here
3ipoplatform.comhttps://www.ipoplatform.com/sme-ipo-eligibility-criteria/appointment-of-lead-managers-other-intermediaries-and-compliance-officerClick here
4nationalheraldindia.comhttps://www.nationalheraldindia.com/business/nse-appoints-record-20-lead-managers-for-one-of-indias-largest-iposClick here
5lawrbit.comhttps://www.lawrbit.com/companies-act-procedures/initial-public-offer-on-main-board/Click here
6ipoplatform.comhttps://www.ipoplatform.com/sme-ipo-eligibility-criteria/issuance-conditions-and-procedureClick here
7stockgro.clubhttps://www.stockgro.club/blogs/ipo/brlm/Click here
8tlctaxlaw.comhttps://www.tlctaxlaw.com/post/going-public-in-india-the-ipo-playbookunder-sebi-icdr-2026-from-board-room-resolution-to-stock-exchaClick here
9blog.ipleaders.inhttps://blog.ipleaders.in/sebi-icdr-amendment-regulations-2026/Click here
10nsearchives.nseindia.comhttps://nsearchives.nseindia.com/content/ipo/BRLM_letter.docClick here
11indiainfoline.comhttps://www.indiainfoline.com/knowledge-center/ipo/who-is-a-syndicate-memberClick here
12flattrade.inhttps://flattrade.in/kosh/ipo-lead-managers-explained-the-experts-behind-every-public-issue/Click here
13equirus.comhttps://www.equirus.com/glossary/book-runnerClick here
14angelone.inhttps://www.angelone.in/knowledge-center/ipo/syndicate-memberClick here
15ipoguru.inhttps://www.ipoguru.in/lead-managersClick here

Question 1.5

Which investment bank has handled the most IPOs in India?

The one page answered by real data. All five of the top sources are league table trackers, and the banks appear as rows in somebody else's table rather than as publishers of their own record.

Top 5 brands named

  1. Rank 1Kotak Mahindra Cap
  2. Rank 2ICICI Securities
  3. Rank 3JM Financial
  4. Rank 4IIFL Capital
  5. Rank 5Motilal Oswal

Top 15 citations

#Citation domainCitation URLActual page
1chittorgarh.comhttps://www.chittorgarh.com/report/ipo-lead-manager-list/95/mainboard/?year=2025Click here
2chittorgarh.comhttps://www.chittorgarh.com/report/top-10-merchant-bankers-in-india-yyyy/147/all/?year=2025Click here
3chittorgarh.comhttps://www.chittorgarh.com/report/top-10-merchant-bankers-in-india/147/Click here
4chittorgarh.comhttps://www.chittorgarh.com/report/ipo-lead-manager-list/95/all/Click here
5investorgain.comhttps://www.investorgain.com/report/list-of-merchant-bankers-in-india/595/Click here
6ipoguru.inhttps://www.ipoguru.in/lead-managersClick here
7investorgain.comhttps://www.investorgain.com/report/ipos-by-lead-manager/556/kotak-mahindra-capital-company/Click here
8chittorgarh.comhttps://www.chittorgarh.com/report/ipo-lead-manager-review/112/12/Click here
9investorgain.comhttps://www.investorgain.com/report/ipos-by-lead-manager/556/icici-securities/Click here
10chittorgarh.comhttps://www.chittorgarh.com/report/ipo-lead-manager-review/112/17/Click here
11ipocentral.inhttps://ipocentral.in/kotak-mahindra-ipo-lead-manager-review-list-of-ipos/Click here
12business-standard.comhttps://www.business-standard.com/amp/article/markets/icici-arm-tops-ipo-rankings-116070700654_1.htmlClick here
135paisa.comhttps://www.5paisa.com/news/jm-financial-iifl-motilal-oswal-kotak-lead-ipo-mandates-in-2025-league-tableClick here
14ipopremium.inhttps://www.ipopremium.in/view/lead-manager/115/kotak-mahindra-capital-company-limitedClick here
15business-standard.comhttps://www.business-standard.com/article/markets/top-five-merchant-bankers-116032901365_1.htmlClick here
Request the detailed report. GetXEO is the number one tool for AEO, GEO and SEO, built to get your brand named and cited in answers buyers already trust. Request the detailed report.

Category 2 of 5

Going public

Five questions about the listing itself: how to take a company public, how long it takes, what a draft prospectus is, what the regulator's eligibility rules are, and how a small company issue differs from a main board one.

Top 5 brands

#BrandTypeVisibilityShare
1SEBIRegulator92.0%
2NSEStock exchange84.0%
3BSEStock exchange64.0%
4Motilal OswalIndian broker16.0%
5EYBig Four firm8.0%

Top 10 cited domains

#DomainCitationsShareCitation volume
1chittorgarh.com56.7%
2bajajfinserv.in45.3%
3angelone.in34.0%
4groww.in34.0%
5motilaloswal.com34.0%
6s45.ai34.0%
7blinkx.in22.7%
8business-standard.com22.7%
9corporateprofessionals.com22.7%
10enterslice.com22.7%

Question level summary

#QuestionTop 5 brandsTop 5 citation domains
2.1How do I take my company public in India?
  • SEBI
  • NSE
  • BSE
  • EY
  • Kotak Mahindra Cap
  • angelone.in
  • indiainfoline.com
  • bajajfinserv.in
  • chittorgarh.com
  • nseindia.com
2.2How long does an IPO take in India?
  • SEBI
  • NSE
  • BSE
  • Motilal Oswal
  • Bajaj Finserv
  • bajajfinserv.in
  • motilaloswal.com
  • ipomarket.in
  • chittorgarh.com
  • s45.ai
2.3What is a DRHP and who files it?
  • SEBI
  • NSE
  • BSE
  • JM Financial
  • JSA
  • groww.in
  • angelone.in
  • bajajfinserv.in
  • sebi.gov.in
  • chittorgarh.com
2.4What are SEBI's eligibility rules for an IPO in India?
  • SEBI
  • NSE
  • BSE
  • Axis Bank
  • Gretex Corporate
  • nseindia.com
  • chittorgarh.com
  • taxguru.in
  • axis.bank.in
  • bajajfinserv.in
2.5What is the difference between an SME IPO and a mainboard IPO?
  • NSE
  • BSE
  • SEBI
  • Motilal Oswal
  • Gretex Corporate
  • groww.in
  • bajajbroking.in
  • indiainfoline.com
  • share.market
  • motilaloswal.com

Question 2.1

How do I take my company public in India?

The regulator, both exchanges and a Big Four firm rank, and only one bank does. The sources are mostly broker education pages written for people buying shares rather than for the company selling them.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2NSE
  3. Rank 3BSE
  4. Rank 4EY
  5. Rank 5Kotak Mahindra Cap

Top 15 citations

#Citation domainCitation URLActual page
1angelone.inhttps://www.angelone.in/knowledge-center/ipo/what-ipo-processClick here
2indiainfoline.comhttps://www.indiainfoline.com/knowledge-center/ipo/ipo-process-in-indiaClick here
3bajajfinserv.inhttps://www.bajajfinserv.in/how-to-launch-ipo-in-indiaClick here
4chittorgarh.comhttps://www.chittorgarh.com/book-chapter/ipo-process/5/Click here
5nseindia.comhttps://www.nseindia.com/static/companies-listing/raising-capital-public-issues-eligibility-equity-debtClick here
65paisa.comhttps://www.5paisa.com/stock-market-guide/ipo/what-is-the-ipo-processClick here
7religareonline.comhttps://www.religareonline.com/blog/ipo-process/Click here
8kotakneo.comhttps://www.kotakneo.com/investing-guide/ipos/ipo-process-explained-9-easy-steps/Click here
9mnclgroup.comhttps://www.mnclgroup.com/how-does-an-ipo-work-step-by-step-ipo-process-in-india-explainedClick here
10ey.comhttps://www.ey.com/en_in/services/ipo/readiness-assessmentClick here
11blinkx.inhttps://blinkx.in/en/knowledge-base/ipo/ipo-process-in-indiaClick here
12stockgro.clubhttps://www.stockgro.club/blogs/ipo/ipo-process-in-india/Click here
13agssl.inhttps://www.agssl.in/complete-guide-to-the-ipo-process-in-india-from-private-to-publicClick here
14enterslice.comhttps://enterslice.com/ipo-readiness-advisoryClick here
15almondztrade.comhttps://almondztrade.com/knowledge-center/ipo/process-of-ipo-in-indiaClick here

Question 2.2

How long does an IPO take in India?

Listing happens three working days after the issue closes, but that is the last step. The part a founder actually needs, the months from draft prospectus to approval, is answered vaguely by almost every source.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2NSE
  3. Rank 3BSE
  4. Rank 4Motilal Oswal
  5. Rank 5Bajaj Finserv

Top 15 citations

#Citation domainCitation URLActual page
1bajajfinserv.inhttps://www.bajajfinserv.in/how-to-launch-ipo-in-indiaClick here
2motilaloswal.comhttps://www.motilaloswal.com/personal-finance/ipo/ipo-cycle-understanding-7-key-stepsClick here
3ipomarket.inhttps://www.ipomarket.in/learn/introduction-to-ipo/7Click here
4chittorgarh.comhttps://www.chittorgarh.com/faq_pg/how-much-time-does-it-take-for-ipo-to-open-after-filing-drhp/3210/Click here
5s45.aihttps://s45.ai/feeds/blog/how-long-to-ipo-after-filing-sebiClick here
6groww.inhttps://groww.in/blog/ipo-cycleClick here
7lexology.comhttps://www.lexology.com/library/detail.aspx?g=392270a0-547f-47be-a50c-d9df731c94cdClick here
8business-standard.comhttps://www.business-standard.com/amp/markets/ipo/market-regulator-sebi-plans-to-shorten-ipo-listing-timeline-to-three-days-123052000674_1.htmlClick here
9ipoplatform.comhttps://www.ipoplatform.com/blogs/listing-process-post-drhp-approval/137Click here
10support.rupeezy.inhttps://support.rupeezy.in/support/solutions/articles/21000005181-how-does-the-ipo-process-work-from-drhp-to-listing-Click here
11chittorgarh.comhttps://www.chittorgarh.com/book-chapter/sme-ipo-process/10/Click here
12motilaloswal.comhttps://www.motilaloswal.com/personal-finance/ipo/what-is-the-ipo-processClick here
13finowings.comhttps://www.finowings.com/Trading/how-many-days-ipo-takesClick here
14cfobridge.comhttps://cfobridge.com/resources/sme-ipo-processClick here
15dfinsolutions.comhttps://www.dfinsolutions.com/knowledge-hub/thought-leadership/knowledge-resources/ipo-timeline-processClick here

Question 2.3

What is a DRHP and who files it?

A law firm ranks fifth, one of only four pages in the report where one does. The draft prospectus is filed by the company through its lead merchant banker, with the regulator and the exchanges at the same time.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2NSE
  3. Rank 3BSE
  4. Rank 4JM Financial
  5. Rank 5JSA

Top 15 citations

#Citation domainCitation URLActual page
1groww.inhttps://groww.in/blog/draft-red-herring-prospectusClick here
2angelone.inhttps://www.angelone.in/knowledge-center/ipo/what-is-drhp-find-out-hereClick here
3bajajfinserv.inhttps://www.bajajfinserv.in/what-is-drhpClick here
4sebi.gov.inhttps://www.sebi.gov.in/acts/icdrreg.htmlClick here
5chittorgarh.comhttps://www.chittorgarh.com/book-chapter/ipo-prospectus/18/Click here
6jmfinancialservices.inhttps://www.jmfinancialservices.in/blogs-and-articles/what-is-drhpClick here
7plindia.comhttps://www.plindia.com/blogs/what-is-drhp-and-how-to-read-it/Click here
8share.markethttps://www.share.market/buzz/ipo-corner/drhp-in-ipo/Click here
9jsalaw.comhttps://www.jsalaw.com/capital-markets-securities/what-does-sebi-look-for-in-an-rhp-a-guide-to-the-icdr-disclosure-framework/Click here
10rupeezy.inhttps://rupeezy.in/blog/what-is-draft-red-herring-prospectus-drhpClick here
11s45.aihttps://s45.ai/feeds/blog/file-drhp-sebiClick here
12indiabonds.comhttps://www.indiabonds.com/kuchbhi/what-is-a-draft-red-herring-prospectus/Click here
13blinkx.inhttps://blinkx.in/en/knowledge-base/ipo/what-is-drhpClick here
14steptrade.capitalhttps://steptrade.capital/draft-red-herring-prospectus-drhp/Click here
15enterslice.comhttps://enterslice.com/drhp-rhp-preparationClick here

Question 2.4

What are SEBI's eligibility rules for an IPO in India?

Two routes exist: a profit test, or a book built issue where institutions take three quarters of the offer. A bank ranks fourth here only because its blog explains the rule, not because it helps anyone pass it.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2NSE
  3. Rank 3BSE
  4. Rank 4Axis Bank
  5. Rank 5Gretex Corporate

Top 15 citations

#Citation domainCitation URLActual page
1nseindia.comhttps://www.nseindia.com/static/companies-listing/raising-capital-public-issues-eligibility-equity-debtClick here
2chittorgarh.comhttps://www.chittorgarh.com/book-chapter/ipo-eligibility/3/Click here
3taxguru.inhttps://taxguru.in/sebi/eligibility-criteria-ipo.htmlClick here
4axis.bank.inhttps://www.axis.bank.in/blogs/investments/ipo-eligibility-criteriaClick here
5bajajfinserv.inhttps://www.bajajfinserv.in/what-are-the-ipo-requirementsClick here
6sebi.gov.inhttps://www.sebi.gov.in/acts/icdrreg.htmlClick here
7ipoplatform.comhttps://www.ipoplatform.com/resources/mainboard-ipo-eligibilityClick here
8gretexcorporate.comhttps://gretexcorporate.com/blog/ipo-eligibility-explained-mainboard-ipo-criteria-every-business-should-know/Click here
9s45.aihttps://s45.ai/feeds/blog/sebi-icdr-regulationsClick here
10indiaipo.inhttps://www.indiaipo.in/blogs/qib-route-ipo-listing-sebi-icdr-regulationClick here
11corporateprofessionals.comhttps://www.corporateprofessionals.com/articles/demystifying-the-ipo-lock-in-framework-under-the-sebi-icdr-regulations/Click here
12pocketful.inhttps://www.pocketful.in/blog/ipo/mainboard-and-sme-ipo-eligibility-criteria/Click here
13angelone.inhttps://www.angelone.in/knowledge-center/ipo/ipo-new-norms-sebi-guidelinesClick here
14business-standard.comhttps://www.business-standard.com/markets/news/sebi-eases-minimum-promoter-contribution-norms-to-boost-ipo-process-124052101274_1.htmlClick here
15corporateprofessionals.comhttps://www.corporateprofessionals.com/articles/sme-ipo-eligibility-criteria-listing-guidelines-and-procedure-a-guide/Click here

Question 2.5

What is the difference between an SME IPO and a mainboard IPO?

The small company route was tightened sharply in 2025, with a profit test, a cap on how much existing owners may sell and a public comment window on the draft, and the cited pages vary in how much of that they carry.

Top 5 brands named

  1. Rank 1NSE
  2. Rank 2BSE
  3. Rank 3SEBI
  4. Rank 4Motilal Oswal
  5. Rank 5Gretex Corporate

Top 15 citations

#Citation domainCitation URLActual page
1groww.inhttps://groww.in/blog/mainboard-vs-sme-ipoClick here
2bajajbroking.inhttps://www.bajajbroking.in/blog/difference-between-mainboard-ipo-and-sme-ipoClick here
3indiainfoline.comhttps://www.indiainfoline.com/knowledge-center/ipo/difference-between-mainboard-ipo-sme-ipoClick here
4share.markethttps://www.share.market/buzz/ipo-corner/difference-between-mainboard-and-sme-ipo/Click here
5motilaloswal.comhttps://www.motilaloswal.com/personal-finance/ipo/what-is-sme-ipoClick here
6shareindia.comhttps://www.shareindia.com/faqs/mainboard-ipo-vs-sme-ipo-key-differences-investors-should-knowClick here
7ipomarket.inhttps://www.ipomarket.in/news/mainboard-vs-sme-ipo-differencesClick here
8finowings.comhttps://www.finowings.com/IPO/overview-of-mainboard-ipo-and-sme-ipoClick here
9venturasecurities.comhttps://www.venturasecurities.com/share-market-guide/all-about-ipo/what-is-the-difference-between-mainboard-ipo-and-sme-ipo/Click here
10bsmartpartners.comhttps://www.bsmartpartners.com/blog/mainboard-vs-sme-ipos-key-differences-benefits-and-investor-insights/Click here
11support.rupeezy.inhttps://support.rupeezy.in/support/solutions/articles/21000005182-how-is-an-sme-ipo-different-from-a-mainboard-ipo-Click here
12gretexcorporate.comhttps://gretexcorporate.com/blog/understanding-the-key-differences-between-mainboard-ipo-and-sme-ipo/Click here
13tradejini.comhttps://www.tradejini.com/blogs/difference-between-sme-ipo-vs-mainboard-ipoClick here
14steptrade.capitalhttps://steptrade.capital/sme-ipos-vs-mainboard-ipos/Click here
15iposhareprice.comhttps://iposhareprice.com/learn/mainboard-vs-sme-ipo/Click here
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Category 3 of 5

Fees and mandates

Five questions about paying for it: what banks charge, what a lead manager actually does, what a mandate letter commits you to, what a success fee is, and what a public issue costs the company overall.

Top 5 brands

#BrandTypeVisibilityShare
1NSEStock exchange36.0%
2SEBIRegulator36.0%
3BSEStock exchange28.0%
4Kotak Mahindra CapIndian IB20.0%
5LICInsurer20.0%

Top 10 cited domains

#DomainCitationsShareCitation volume
1business-standard.com1114.7%
2chittorgarh.com45.3%
3axial.net34.0%
4divestopedia.com34.0%
5ipoplatform.com34.0%
6investorgain.com22.7%
7ipocentral.in22.7%
8amicusllp.com11.3%
9auxocapitaladvisors.com11.3%
10aventis-advisors.com11.3%

Question level summary

#QuestionTop 5 brandsTop 5 citation domains
3.1What fees do investment banks charge in India?
  • Kotak Mahindra Cap
  • Jefferies
  • LIC
  • HDB Financial
  • SEBI
  • business-standard.com
  • ibef.org
  • business-standard.com
  • business-standard.com
  • business-standard.com
3.2What does a lead manager do in an IPO?
  • SEBI
  • NSE
  • BSE
  • Groww
  • mStock
  • groww.in
  • mstock.com
  • equentis.com
  • bajajbroking.in
  • gwcindia.in
3.3What is a mandate letter in investment banking?
  • Venable LLP
  • Weil Gotshal
  • Pillsbury
  • LexisNexis
  • Equirus
  • venable.com
  • chittorgarh.com
  • lawinsider.com
  • divestopedia.com
  • axial.net
3.4What is a success fee in an M&A deal?
  • Lehman Brothers
  • Aventis Advisors
  • Eton Venture Svcs
  • Axial
  • Firmex
  • etonvs.com
  • mnacommunity.com
  • corporatefinanceinstitute.com
  • aventis-advisors.com
  • dealroom.net
3.5What does an IPO cost a company in India?
  • NSE
  • BSE
  • SEBI
  • LIC
  • BDO India
  • chittorgarh.com
  • ipocentral.in
  • investorgain.com
  • ipoplatform.com
  • amicusllp.com

Question 3.1

What fees do investment banks charge in India?

The only page where a bank leads a fee question. Industry fees came to about Rs 10,725 crore in 2025, and almost every figure available to an issuer comes from newspaper coverage of other people's deals.

Top 5 brands named

  1. Rank 1Kotak Mahindra Cap
  2. Rank 2Jefferies
  3. Rank 3LIC
  4. Rank 4HDB Financial
  5. Rank 5SEBI

Top 15 citations

#Citation domainCitation URLActual page
1business-standard.comhttps://www.business-standard.com/finance/personal-finance/india-s-investment-banking-fees-reach-1-3-bn-in-2024-kotak-mahindra-leads-125010300290_1.htmlClick here
2ibef.orghttps://www.ibef.org/news/india-s-investment-banking-fees-hit-rs-10-725-crore-us-1-3-billion-in-2025-jefferies-tops-league-tableClick here
3business-standard.comhttps://www.business-standard.com/finance/personal-finance/india-deals-slow-but-ipos-shine-investment-banking-fees-hit-8-year-low-126040200598_1.htmlClick here
4business-standard.comhttps://www.business-standard.com/amp/industry/banking/hdb-ipo-investment-bankers-paid-rs-104-crore-lowest-in-years-125063000918_1.htmlClick here
5business-standard.comhttps://www.business-standard.com/article/markets/lic-ipo-bankers-quote-base-fee-of-rs-1-crore-check-details-here-121090700052_1.htmlClick here
6pl.tradingview.comhttps://pl.tradingview.com/news/moneycontrol:085706d25094b:0-for-merchant-bankers-2024-is-already-a-record-bumper-year-in-terms-of-ipo-feesClick here
7business-standard.comhttps://www.business-standard.com/amp/article/markets/investment-bankers-equity-market-fee-pool-rises-to-21-to-321-mn-in-2018-118121401242_1.htmlClick here
8business-standard.comhttps://www.business-standard.com/article/finance/india-s-investment-banking-activities-generated-523-mn-in-fees-in-h1cy19-119071601583_1.htmlClick here
9business-standard.comhttps://www.business-standard.com/amp/article/markets/indian-investment-bankers-tighten-grip-over-the-league-table-121082700037_1.htmlClick here
10investorgain.comhttps://www.investorgain.com/article/cost-of-sme-ipo-listing/168/Click here
11ipocentral.inhttps://ipocentral.in/sme-ipo-cost-expense-breakup/Click here
12investmentbank.comhttps://investmentbank.com/insights/feesClick here
13divestopedia.comhttps://www.divestopedia.com/definition/5282/investment-banker-feeClick here
14business-standard.comhttps://www.business-standard.com/amp/article/markets/investment-banking-fees-up-6-in-2019-over-higher-fees-in-debt-segment-119102800662_1.htmlClick here
15pw.livehttps://www.pw.live/finance-courses/exams/investment-banking-feesClick here

Question 3.2

What does a lead manager do in an IPO?

The regulator and both exchanges rank on a question about a bank's job. Most of the fifteen sources are broker explainers, and the merchant bankers themselves publish almost nothing about what they actually do.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2NSE
  3. Rank 3BSE
  4. Rank 4Groww
  5. Rank 5mStock

Top 15 citations

#Citation domainCitation URLActual page
1groww.inhttps://groww.in/blog/book-running-lead-manager-in-ipoClick here
2mstock.comhttps://www.mstock.com/articles/brlm-book-running-lead-managerClick here
3equentis.comhttps://www.equentis.com/blog/what-is-a-book-running-lead-manager-brlm-in-ipo/Click here
4bajajbroking.inhttps://www.bajajbroking.in/blog/book-running-lead-manager-brlmClick here
5gwcindia.inhttps://www.gwcindia.in/blog/what-is-a-book-running-lead-manager-brlm-role-and-importance-in-an-ipo/Click here
6chittorgarh.comhttps://www.chittorgarh.com/book-chapter/ipo-intermediaries/6/Click here
7ipoplatform.comhttps://www.ipoplatform.com/sme-ipo-eligibility-criteria/appointment-of-lead-managers-other-intermediaries-and-compliance-officerClick here
8jainam.inhttps://www.jainam.in/glossary/book-running-lead-manager-brlm/Click here
9bajajfinservmarkets.inhttps://www.bajajfinservmarkets.in/ipo/book-running-lead-managerClick here
10venturasecurities.comhttps://www.venturasecurities.com/share-market-glossary/book-running-lead-manager-brlm/Click here
11navia.co.inhttps://navia.co.in/blog/what-does-a-book-running-lead-manager-do-for-an-ipo/Click here
12upstox.comhttps://upstox.com/learning-center/ipo/what-is-a-merchant-banker-and-what-role-do-they-play-in-an-ipo/article-1601/Click here
13vipinraina.comhttps://www.vipinraina.com/blog/the-role-and-responsibilities-of-merchant-bankers-in-ipos-under-sebi-regulations-india.phpClick here
14flattrade.inhttps://flattrade.in/kosh/ipo-lead-managers-explained-the-experts-behind-every-public-issue/Click here
15chittorgarh.comhttps://www.chittorgarh.com/book-chapter/merchant-banker-role-and-responsibilities/47/Click here

Question 3.3

What is a mandate letter in investment banking?

The most foreign page in the report. Three American law firms take the top slots and a legal publisher ranks fourth. Two Indian sources appear, and one of them covers small company issues only.

Top 5 brands named

  1. Rank 1Venable LLP
  2. Rank 2Weil Gotshal
  3. Rank 3Pillsbury
  4. Rank 4LexisNexis
  5. Rank 5Equirus

Top 15 citations

#Citation domainCitation URLActual page
1venable.comhttps://www.venable.com/insights/publications/2021/09/engagement-letters-with-investment-bankersClick here
2chittorgarh.comhttps://www.chittorgarh.com/book-chapter/merchant-banker-mandate-letter/14/Click here
3lawinsider.comhttps://lawinsider.com/clause/mandate-letterClick here
4divestopedia.comhttps://www.divestopedia.com/how-to-structure-the-right-investment-banking-engagement-letter/2/8211/Click here
5axial.nethttps://www.axial.net/forum/how-to-structure-the-investment-banking-engagement/Click here
6axial.nethttps://www.axial.net/forum/6-clauses-to-negotiate-in-the-investment-banking-engagement-letter/Click here
7weil.comhttps://www.weil.com/~/media/files/pdfs/engagement_letters.pdfClick here
8pillsburypropel.comhttps://www.pillsburypropel.com/guidance/investment-bank-engagement-lettersClick here
9lexisnexis.comhttps://www.lexisnexis.com/en-gb/legal/guidance/how-to-draft-negotiate-mandate-letters-in-loan-transactionsClick here
10equirus.comhttps://www.equirus.com/glossary/mandateClick here
11seedi.orghttps://seedi.org/knowledge-point/what-is-a-mandate-letter/Click here
12chambers.comhttps://chambers.com/articles/mandate-letters-a-strict-interpretationClick here
13morse.lawhttps://www.morse.law/news/investment-banker-engagement-letters/Click here
14ctacquisitions.comhttps://ctacquisitions.com/investment-banker-engagement-letter-explained/Click here
15bloomberglaw.comhttps://www.bloomberglaw.com/external/document/X9I3RI2O000000/capital-markets-drafting-guide-engagement-lettersClick here

Question 3.4

What is a success fee in an M&A deal?

A bank that collapsed in 2008 ranks first, because the fee convention still carries its name. Every source on this page is foreign and the formula they describe is American practice rather than anything used in India.

Top 5 brands named

  1. Rank 1Lehman Brothers
  2. Rank 2Aventis Advisors
  3. Rank 3Eton Venture Svcs
  4. Rank 4Axial
  5. Rank 5Firmex

Top 15 citations

#Citation domainCitation URLActual page
1etonvs.comhttps://etonvs.com/ma/m-and-a-advisory-fees/Click here
2mnacommunity.comhttps://mnacommunity.com/insights/ma-fees-by-deal-size/Click here
3corporatefinanceinstitute.comhttps://corporatefinanceinstitute.com/resources/valuation/success-fee/Click here
4aventis-advisors.comhttps://aventis-advisors.com/ma-advisor-fees/Click here
5dealroom.nethttps://dealroom.net/blog/buy-side-m-a-feesClick here
6dealflow.comhttps://dealflow.com/success-feeClick here
7rejigg.comhttps://www.rejigg.com/success-feeClick here
8venturefirst.comhttps://venturefirst.com/an-introduction-to-success-fees-and-the-lehman-formula/Click here
9auxocapitaladvisors.comhttps://auxocapitaladvisors.com/m-a-advisor-fees-modified-lehman/Click here
10bizadvisoryboard.comhttps://bizadvisoryboard.com/ma-advisory-fees/Click here
11firstpagesage.comhttps://firstpagesage.com/business/ma-advisory-fee-structure/Click here
12praxisrock.comhttps://praxisrock.com/insights/sell-side-advisory-feesClick here
13revenuerocket.comhttps://www.revenuerocket.com/ma-fees-what-to-expect-before-during-and-after-close/Click here
14axial.nethttps://www.axial.net/wp-content/uploads/2022/12/Firmex_Axial_MA_Fee_Guide.pdfClick here
15divestopedia.comhttps://divestopedia.com/2/8036/sale-process/investment-bankers/a-summary-of-ma-fees-for-sell-side-transactionsClick here

Question 3.5

What does an IPO cost a company in India?

The exchanges and the regulator lead, none of which sets the price. Small company issues run to roughly seven to ten percent of the money raised, and no comparable published range exists for a main board issue.

Top 5 brands named

  1. Rank 1NSE
  2. Rank 2BSE
  3. Rank 3SEBI
  4. Rank 4LIC
  5. Rank 5BDO India

Top 15 citations

#Citation domainCitation URLActual page
1chittorgarh.comhttps://www.chittorgarh.com/book-chapter/sme-ipo-expenses/12/Click here
2ipocentral.inhttps://ipocentral.in/sme-ipo-cost-expense-breakup/Click here
3investorgain.comhttps://www.investorgain.com/article/cost-of-sme-ipo-listing/168/Click here
4ipoplatform.comhttps://www.ipoplatform.com/blogs/what-is-the-ipo-cost-for-listing-on-nse-and-bse/149Click here
5amicusllp.comhttps://www.amicusllp.com/blog/how-much-does-an-sme-ipo-cost-a-breakdown-of-fees-and-expensesClick here
6business-standard.comhttps://www.business-standard.com/article/markets/lic-ipo-banks-get-just-0-06-of-proceeds-to-handle-india-s-largest-float-122051701192_1.htmlClick here
7business-standard.comhttps://www.business-standard.com/amp/article/markets/ipo-expenses-likely-to-ease-further-this-year-say-industry-players-120102500735_1.htmlClick here
8business-standard.comhttps://www.business-standard.com/markets/news/hdb-ipo-investment-bankers-paid-rs-104-crore-lowest-in-years-125063000918_1.htmlClick here
9bcajonline.orghttps://bcajonline.org/journal/share-issue-costs-vs-share-listing-expenses/Click here
10bdo.inhttps://www.bdo.in/getmedia/530f9f7c-1b96-4fc5-be72-677ae77b07eb/The-Standard-Stance_BDO-India_Vol-11.pdfClick here
11sethspro.comhttps://www.sethspro.com/post/sebi-merchant-banker-regulations-ipoClick here
12gretexcorporate.comhttps://gretexcorporate.com/blog/ipo-process-in-india-a-strategic-guide-for-promoters/Click here
13publicfinancial.comhttps://www.publicfinancial.com/knowledge-hub/cost-and-expense-considerationsClick here
14grassiadvisors.comhttps://www.grassiadvisors.com/blog/understanding-the-costs-associated-with-an-ipo/Click here
15ipoplatform.comhttps://www.ipoplatform.com/sme-ipo-eligibility-drhp-filing/other-information-in-drhpClick here
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Category 4 of 5

Selling or merging

Five questions about an exit: how to sell a company, how a business is valued, what due diligence involves, whether a banker is needed at all, and how long a deal takes to close in India.

Top 5 brands

#BrandTypeVisibilityShare
1Sapient ServicesValuation firm36.0%
2SEBIRegulator32.0%
3DealPlexusDeal platform28.0%
4IndiaBizForSaleListing platform20.0%
5TaxmannTax publisher20.0%

Top 10 cited domains

#DomainCitationsShareCitation volume
1sapientservices.com45.3%
2axial.net22.7%
3bizvaluations.in22.7%
4dealplexus.com22.7%
5dfinsolutions.com22.7%
6elitevaluation.in22.7%
7indiabizforsale.com22.7%
8kanakkupillai.com22.7%
9lexology.com22.7%
10taxmann.com22.7%

Question level summary

#QuestionTop 5 brandsTop 5 citation domains
4.1How do I sell my company in India?
  • IndiaBizForSale
  • Kanakkupillai
  • FundTQ
  • Ebizfiling
  • Merger Mela
  • indiabizforsale.com
  • kanakkupillai.com
  • fundtq.com
  • ebizfiling.com
  • mergermela.com
4.2How is a company valued in an M&A deal?
  • Taxmann
  • Elite Valuation
  • Sapient Services
  • BizValuations
  • SEBI
  • taxmann.com
  • elitevaluation.in
  • sapientservices.com
  • bizvaluations.in
  • thelegalschool.in
4.3What is due diligence in an acquisition?
  • Sapient Services
  • DealPlexus
  • PKC India
  • IndiaFilings
  • Netrika
  • sapientservices.com
  • dealplexus.com
  • pkcindia.com
  • indialawoffices.com
  • smvchambers.com
4.4Do I need an investment banker to sell my business?
  • Axial
  • SEBI
  • DealPlexus
  • Kroll
  • Oaklyn Consulting
  • oaklynconsulting.com
  • northerntrust.com
  • dealplexus.com
  • quintedge.com
  • axial.net
4.5How long does an M&A deal take in India?
  • CCI
  • NCLT
  • SEBI
  • S&R Associates
  • Sapient Services
  • altacit.com
  • dfinsolutions.com
  • sapientservices.com
  • law.asia
  • lawsikho.com

Question 4.1

How do I sell my company in India?

Four of the five named entities are listing platforms or compliance services. The people who actually sell companies in India are absent from the question a seller types first, which is the sharpest gap in the report.

Top 5 brands named

  1. Rank 1IndiaBizForSale
  2. Rank 2Kanakkupillai
  3. Rank 3FundTQ
  4. Rank 4Ebizfiling
  5. Rank 5Merger Mela

Top 15 citations

#Citation domainCitation URLActual page
1indiabizforsale.comhttps://www.indiabizforsale.com/blog/how-to-sell-your-business-in-india/Click here
2kanakkupillai.comhttps://www.kanakkupillai.com/learn/sell-a-private-limited-company-in-india/Click here
3fundtq.comhttps://fundtq.com/sell-my-business-india/Click here
4ebizfiling.comhttps://ebizfiling.com/blog/how-to-sell-a-private-limited-company/Click here
5mergermela.comhttps://mergermela.com/2025/09/26/how-to-sell-your-business-in-india-a-step-by-step-guide/Click here
6kanakkupillai.comhttps://www.kanakkupillai.com/learn/sell-a-small-business-in-india/Click here
7businessdeals.inhttps://businessdeals.in/blog/a-comprehensive-guide-on-how-to-sell-a-private-limited-company-in-indiaClick here
8aviaanaccounting.comhttps://aviaanaccounting.com/buying-and-selling-businesses-in-india-a-comprehensive-guide/Click here
9sparkleminds.comhttps://www.sparkleminds.com/development/sell-your-business/Click here
10iloconsulting.inhttps://www.iloconsulting.in/knowledge-center/the-process-of-the-sell-side-transactionClick here
11transiqueadvisors.comhttps://www.transiqueadvisors.com/services/transaction-advisory/corporate-deal/sell-side-advisory/Click here
12ibgrid.comhttps://www.ibgrid.com/business-exit-servicesClick here
13indiabizforsale.comhttps://www.indiabizforsale.com/blog/top-10-trusted-business-buying-selling-investment-platforms-in-india/Click here
14india.businessesforsale.comhttps://india.businessesforsale.com/indian/search/businesses-for-sale/articles/do-you-need-a-business-broker-to-sell-your-business-in-indiaClick here
15mondaq.comhttps://www.mondaq.com/india/corporatecommercial-law/1458944/mergers-acquisitions-comparative-guideClick here

Question 4.2

How is a company valued in an M&A deal?

Three valuation firms and a tax publisher rank, and no bank does. Valuation in India is also a regulated filing exercise, which is why the sources skew towards registered valuers rather than deal advisers.

Top 5 brands named

  1. Rank 1Taxmann
  2. Rank 2Elite Valuation
  3. Rank 3Sapient Services
  4. Rank 4BizValuations
  5. Rank 5SEBI

Top 15 citations

#Citation domainCitation URLActual page
1taxmann.comhttps://www.taxmann.com/post/blog/company-valuation-methods-for-maClick here
2elitevaluation.inhttps://elitevaluation.in/mergers-and-acquisitions-valuation-india/Click here
3sapientservices.comhttps://www.sapientservices.com/valuation-techniques-in-mergers-and-acquisitions/Click here
4bizvaluations.inhttps://bizvaluations.in/business-valuation-india/Click here
5thelegalschool.inhttps://thelegalschool.in/blog/business-valuation-methodsClick here
6dfinsolutions.comhttps://www.dfinsolutions.com/knowledge-hub/thought-leadership/knowledge-resources/ma-valuation-methods-determine-companys-worthClick here
7bpm.comhttps://www.bpm.com/insights/valuation-for-mas/Click here
8bizvaluations.inhttps://bizvaluations.in/top-ma-valuation-firms-india/Click here
9elitevaluation.inhttps://elitevaluation.in/company-valuation-india-fair-value-guide/Click here
10upscalelegal.comhttps://upscalelegal.com/valuation-of-companies-for-mergers-and-acquisitions-transactions/Click here
11sapientservices.comhttps://www.sapientservices.com/what-is-business-valuation/Click here
12taxguru.inhttps://taxguru.in/company-law/comparison-share-valuation-indian-acts.htmlClick here
13taxmann.comhttps://www.taxmann.com/post/blog/understanding-the-valuation-under-fema/Click here
14equitylist.cohttps://www.equitylist.co/blog-post/valuation-report-indiaClick here
15ascgroup.inhttps://www.ascgroup.in/requirement-of-valuation-under-regulatory-compliance-a-complete-guide/Click here

Question 4.3

What is due diligence in an acquisition?

Law firms and consultancies answer this and banks do not, which is correct, because diligence is run by lawyers and accountants. The bank's role is to manage them, which the pages tend to leave out.

Top 5 brands named

  1. Rank 1Sapient Services
  2. Rank 2DealPlexus
  3. Rank 3PKC India
  4. Rank 4IndiaFilings
  5. Rank 5Netrika

Top 15 citations

#Citation domainCitation URLActual page
1sapientservices.comhttps://www.sapientservices.com/what-is-due-diligence/Click here
2dealplexus.comhttps://www.dealplexus.com/blog/due-diligence-india-guideClick here
3pkcindia.comhttps://www.pkcindia.com/blogs/due-diligence-checklist-for-buying-a-company/Click here
4indialawoffices.comhttps://www.indialawoffices.com/legal-articles/due-diligence-procedure-in-private-m-and-aClick here
5smvchambers.comhttps://www.smvchambers.com/blog/how-to-conduct-legal-due-diligence-for-mergers-and-acquisitions-in-indiaClick here
6blog.ipleaders.inhttps://blog.ipleaders.in/legal-due-diligence-checklist-ma/Click here
7indiafilings.comhttps://www.indiafilings.com/learn/checklist-for-due-diligence-of-companyClick here
8lexology.comhttps://www.lexology.com/library/detail.aspx?g=9868ddc3-1684-4d16-8939-0b73eb37aebbClick here
9netrika.comhttps://www.netrika.com/blog/ma-due-diligence-checklist-a-step-by-step-guideClick here
10kamalandcoadvocates.comhttps://kamalandcoadvocates.com/civil/legal-due-diligence-for-indian-businesses/Click here
11tallysolutions.comhttps://tallysolutions.com/business-guides/due-diligence-in-mergers-acquisitions-a-business-guide-to-risk-assessment-deal-success/Click here
12scalegal.orghttps://scalegal.org/legal-due-diligence-law-firm-and-lawyers-in-india/Click here
13cfomatrix.inhttps://cfomatrix.in/insight/due-diligence/due-diligence-report-india-startupsClick here
14pierag.comhttps://pierag.com/US/top-red-flags-in-indian-ma-due-diligence-from-the-due-diligence-room/Click here
15gnalawyers.comhttps://gnalawyers.com/blog/due-diligence-checklist-for-buying-a-business-a-complete-step-by-step-guide/Click here

Question 4.4

Do I need an investment banker to sell my business?

An American deal network leads a question about Indian practice, and most sources are United States advisory firms arguing that a seller needs one. The regulator ranks second, which is the only Indian anchor on the page.

Top 5 brands named

  1. Rank 1Axial
  2. Rank 2SEBI
  3. Rank 3DealPlexus
  4. Rank 4Kroll
  5. Rank 5Oaklyn Consulting

Top 15 citations

#Citation domainCitation URLActual page
1oaklynconsulting.comhttps://oaklynconsulting.com/do-i-need-an-investment-banker-to-sell-my-business/Click here
2northerntrust.comhttps://www.northerntrust.com/united-states/institute/articles/should-i-hire-an-investment-bank-to-sell-my-businessClick here
3dealplexus.comhttps://www.dealplexus.com/blog/investment-banking-mid-market-indiaClick here
4quintedge.comhttps://quintedge.com/blog/boutique-investment-banks-indiaClick here
5axial.nethttps://www.axial.net/forum/companies/india-investment-banks/Click here
6axial.nethttps://www.axial.net/forum/companies/india-m-a-advisory-firms/Click here
7turnstoneib.comhttps://turnstoneib.com/can-i-sell-my-business-without-an-investment-banker-going-it-alone-vs-going-prepared/Click here
8parklandcp.comhttps://parklandcp.com/guides/business-broker-vs-ma-advisor-vs-investment-bank/Click here
9crewe.comhttps://crewe.com/should-you-use-an-investment-banker/Click here
10exitgroup.comhttps://www.exitgroup.com/to-hire-or-not-to-hire-an-investment-banker-when-selling-your-business/Click here
11venerocapitaladvisors.comhttps://www.venerocapitaladvisors.com/resources/why-hire-an-investment-bank-when-selling-your-companyClick here
12transjovancap.comhttps://transjovancap.com/feeds/blog/top-m-a-advisory-firms-indiaClick here
13lastaki.comhttps://www.lastaki.com/Click here
14kroll.comhttps://www.kroll.com/en/merchant-bankingClick here
15lawrbit.comhttps://www.lawrbit.com/capital-market/procedure-registration-of-merchant-bankers-sebi/Click here

Question 4.5

How long does an M&A deal take in India?

The competition regulator and the tribunal rank first and second, which is the honest answer. Approval, not negotiation, sets the clock, and a court approved scheme in India has been taking closer to a year than a quarter.

Top 5 brands named

  1. Rank 1CCI
  2. Rank 2NCLT
  3. Rank 3SEBI
  4. Rank 4S&R Associates
  5. Rank 5Sapient Services

Top 15 citations

#Citation domainCitation URLActual page
1altacit.comhttps://www.altacit.com/mergers-and-acquisitions-in-india-complete-legal-guide-2026/Click here
2dfinsolutions.comhttps://www.dfinsolutions.com/knowledge-hub/blog/how-long-do-m-and-a-deals-takeClick here
3sapientservices.comhttps://www.sapientservices.com/cci-merger-control-in-india/Click here
4law.asiahttps://law.asia/merger-control-regulatory-framework/Click here
5lawsikho.comhttps://lawsikho.com/blog/cross-border-ma-approval-timeline-india/Click here
6snrlaw.inhttps://www.snrlaw.in/fast-track-mergers-in-india-feasibility-and-key-legal-challenges/Click here
7lawcrust.comhttps://lawcrust.com/nclt-mergers-india/Click here
8finlead.inhttps://www.finlead.in/blog/understanding-the-timeline-of-a-tech-m-a-deal-from-start-to-closeClick here
9globallawexperts.comhttps://globallawexperts.com/merger-control-india/Click here
10lexology.comhttps://www.lexology.com/library/detail.aspx?g=2cb72a0a-be08-4c38-8b89-9ef647f3a5feClick here
11thementorshipproject.inhttps://www.thementorshipproject.in/blog-details/UTZaag==/Regulatory-Approvals-and-Timeline-Management-in-Cross-Border-Mergers-Implications-of-the-CCI-Combinations-Regulations-2024-and-the-SEBIRBINCLT-Approval-InterplayClick here
12globaladvisoryexperts.comhttps://globaladvisoryexperts.com/merger-control-india/Click here
13oneadvanced.comhttps://www.oneadvanced.com/resources/how-long-does-the-ma-process-take/Click here
14pcecompanies.comhttps://www.pcecompanies.com/resources/ma-process-stages-timelineClick here
15auxocapitaladvisors.comhttps://auxocapitaladvisors.com/sell-side-mna-timeline/Click here
Ask about multi brand pricing. GetXEO is the number one tool for AEO, GEO and SEO, built to get your brand named and cited in answers buyers already trust. Ask about pricing.

Category 5 of 5

Private capital

Five questions about raising money privately: how to raise private equity, what a qualified placement is and who can do one, what a placement agent charges, what a pre issue placement is, and how to find investors.

Top 5 brands

#BrandTypeVisibilityShare
1SEBIRegulator40.0%
2MNCLIndian IB28.0%
3AvendusIndian IB20.0%
4PipelineRoadDeal software20.0%
5OpenVCStartup platform20.0%

Top 10 cited domains

#DomainCitationsShareCitation volume
1sebi.gov.in34.0%
2axial.net22.7%
3cleartax.in22.7%
4ipoplatform.com22.7%
5mnclgroup.com22.7%
6pipelineroad.com22.7%
7praxisrock.com22.7%
8s45.ai22.7%
93emanagement.org11.3%
103one4capital.com11.3%

Question level summary

#QuestionTop 5 brandsTop 5 citation domains
5.1How do I raise private equity funding in India?
  • Avendus
  • BDO India
  • MNCL
  • 3one4 Capital
  • Transjovan Capital
  • mnclgroup.com
  • bdo.in
  • swastika.co.in
  • lexology.com
  • avendus.com
5.2What is a QIP and when can a company do one?
  • SEBI
  • MNCL
  • Angel One
  • JM Financial
  • Bajaj Finserv
  • angelone.in
  • sebi.gov.in
  • mnclgroup.com
  • en.wikipedia.org
  • taxguru.in
5.3What is a placement agent and what do they charge?
  • PipelineRoad
  • Praxisrock
  • 5Capital
  • 3E Management
  • Axial
  • pipelineroad.com
  • pipelineroad.com
  • praxisrock.com
  • 5-capital.com
  • 3emanagement.org
5.4What is a pre-IPO placement in India?
  • SEBI
  • Touchstone Partners
  • DSP
  • IIFL Capital
  • BlinkX
  • cleartax.in
  • sethspro.com
  • touchstonepartners.com
  • indiacorplaw.in
  • sebi.gov.in
5.5How do I find investors for my company in India?
  • OpenVC
  • Private Equity List
  • AngelList India
  • SMERGERS
  • Startup India
  • openvc.app
  • privateequitylist.com
  • angellistindia.com
  • smergers.com
  • startupindia.gov.in

Question 5.1

How do I raise private equity funding in India?

An Indian bank leads for once, and an audit firm ranks second. The sources split between mid market advisers and startup funding guides, which are two different markets treated here as one.

Top 5 brands named

  1. Rank 1Avendus
  2. Rank 2BDO India
  3. Rank 3MNCL
  4. Rank 43one4 Capital
  5. Rank 5Transjovan Capital

Top 15 citations

#Citation domainCitation URLActual page
1mnclgroup.comhttps://www.mnclgroup.com/ways-to-raise-capital-in-india-ipos-qips-private-equity-explainedClick here
2bdo.inhttps://www.bdo.in/en-gb/services/advisory/corporate-finance-and-investment-banking/private-equity-fundraisingClick here
3swastika.co.inhttps://www.swastika.co.in/blog/navigating-the-private-equity-funding-process-in-an-investment-bankClick here
4lexology.comhttps://www.lexology.com/library/detail.aspx?g=4703a9f6-2437-44ce-aa50-439f2cdd8b30Click here
5avendus.comhttps://www.avendus.com/Click here
6transjovancap.comhttps://transjovancap.com/feeds/blog/top-private-equity-advisory-firms-indiaClick here
7dealplexus.comhttps://www.dealplexus.com/blog/investment-banking-mid-market-indiaClick here
83one4capital.comhttps://www.3one4capital.com/blogs/signals-fundraising-essentials-a-practical-guide-for-indian-startupsClick here
9terkarcapital.comhttps://terkarcapital.com/private-equity-funds/Click here
10vakilsearch.comhttps://vakilsearch.com/article/how-to-raise-funds-for-startup-in-india/Click here
11caclubindia.comhttps://www.caclubindia.com/articles/fund-raising-avenues-for-private-companies-in-india-49860.aspClick here
12ebizfiling.comhttps://ebizfiling.com/blog/raising-investments-for-private-limited-company/Click here
13samagrallp.comhttps://samagrallp.com/lifecycle/fund-raisingClick here
14pinc.co.inhttps://pinc.co.in/investment-banking-advisoryClick here
15axial.nethttps://www.axial.net/forum/companies/india-investment-banks/Click here

Question 5.2

What is a QIP and when can a company do one?

Only a listed company can do one, and only institutions may buy. The floor price comes from a two week average, with a small discount allowed, and most cited pages explain it to the buyer rather than the issuer.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2MNCL
  3. Rank 3Angel One
  4. Rank 4JM Financial
  5. Rank 5Bajaj Finserv

Top 15 citations

#Citation domainCitation URLActual page
1angelone.inhttps://www.angelone.in/knowledge-center/share-market/what-is-qualified-institutional-placementClick here
2sebi.gov.inhttps://www.sebi.gov.in/sebi_data/faqfiles/may-2025/1747290561386.pdfClick here
3mnclgroup.comhttps://www.mnclgroup.com/qualified-institutional-placement-qip-in-india-complete-guideClick here
4en.wikipedia.orghttps://en.wikipedia.org/wiki/Qualified_institutional_placementClick here
5taxguru.inhttps://taxguru.in/sebi/qualified-institutional-placement-qip-simplified.htmlClick here
6bajajfinserv.inhttps://www.bajajfinserv.in/what-is-qipClick here
7jmfinancialservices.inhttps://www.jmfinancialservices.in/blogs-and-articles/what-is-qip-and-how-to-invest-in-itClick here
8fisdom.comhttps://www.fisdom.com/qip-qualified-institutional-placements/Click here
9hdfcsky.comhttps://hdfcsky.com/sky-learn/share-trading/what-is-qualified-institutional-placement-qipClick here
10npahilwani.comhttps://npahilwani.com/qip-pricing-formula-regulation-176-sebi-icdr/Click here
11slm.mbahttps://slm.mba/mmpf-007/sebi-regulations-qip/Click here
12sebi.gov.inhttps://www.sebi.gov.in/sebi_data/commondocs/subsection1_p.pdfClick here
13scripbox.comhttps://scripbox.com/pf/qualified-institutional-buyers/Click here
14fyers.inhttps://fyers.in/blog/what-is-qualified-institutional-placement-qip/Click here
15ipoplatform.comhttps://www.ipoplatform.com/blogs/qualified-institutional-placement-qip/178Click here

Question 5.3

What is a placement agent and what do they charge?

Not one source on this page is Indian. Five foreign advisory and software firms rank, and an Indian company asking what a placement agent costs is answered entirely with American and European fee tables.

Top 5 brands named

  1. Rank 1PipelineRoad
  2. Rank 2Praxisrock
  3. Rank 35Capital
  4. Rank 43E Management
  5. Rank 5Axial

Top 15 citations

#Citation domainCitation URLActual page
1pipelineroad.comhttps://pipelineroad.com/blog/placement-agent-fees-2026Click here
2pipelineroad.comhttps://pipelineroad.com/glossary/placement-agentClick here
3praxisrock.comhttps://praxisrock.com/fundraising/vs-placement-agentClick here
45-capital.comhttps://www.5-capital.com/placement-agent-fundraising-costsClick here
53emanagement.orghttps://3emanagement.org/whitepapers/placement-fees-in-private-equityClick here
6praxisrock.comhttps://praxisrock.com/resources/fee-calculatorClick here
7ctacquisitions.comhttps://ctacquisitions.com/placement-agent-ma/Click here
8angelinvestorsnetwork.comhttps://angelinvestorsnetwork.com/capital-raising/what-capital-raising-actually-costsClick here
9spectup.comhttps://www.spectup.com/resource-hub/placement-agent-private-equityClick here
10axial.nethttps://www.axial.net/forum/investment-banking-fee-structures/Click here
11capstonepartners.comhttps://www.capstonepartners.com/insights/article-how-does-an-investment-bank-get-paid/Click here
12mayerbrown.comhttps://www.mayerbrown.com/-/media/files/perspectives-events/events/2025/04/whats-the-deal-series---negotiating-private-placement-engagement-letters.pdf?rev=d03de17a5c3a41b3ab12e91900f34922Click here
13lawinsider.comhttps://www.lawinsider.com/dictionary/placement-agents-feeClick here
14investmentbank.comhttps://investmentbank.com/feesClick here
15vistapointadvisors.comhttps://vistapointadvisors.com/perspectives/investment-bank-fee-structureClick here

Question 5.4

What is a pre-IPO placement in India?

A law firm ranks second, one of only four pages where a law firm ranks at all. Shares placed before a listing carry a six month lock in, and the regulator's 2026 change was a mechanical fix rather than a relaxation of that rule.

Top 5 brands named

  1. Rank 1SEBI
  2. Rank 2Touchstone Partners
  3. Rank 3DSP
  4. Rank 4IIFL Capital
  5. Rank 5BlinkX

Top 15 citations

#Citation domainCitation URLActual page
1cleartax.inhttps://cleartax.in/s/pre-ipo-placementsClick here
2sethspro.comhttps://www.sethspro.com/post/pre-ipo-placement-indiaClick here
3touchstonepartners.comhttps://touchstonepartners.com/indian-listing-a-primer-for-pre-ipo-investors/Click here
4indiacorplaw.inhttps://indiacorplaw.in/2025/11/28/unlocking-capital-sebis-proposal-to-ease-lock-in-norms-for-pre-ipo-investors/Click here
5sebi.gov.inhttps://www.sebi.gov.in/acts/icdrreg09.pdfClick here
6irccl.inhttps://www.irccl.in/post/sebi-s-pre-ipo-placement-ban-protection-paradox-and-the-path-forwardClick here
7s45.aihttps://s45.ai/feeds/blog/pre-ipo-lock-periodClick here
8legallands.comhttps://legallands.com/sebis-lock-in-norms-for-pre-ipo-investors/Click here
9choiceindia.comhttps://choiceindia.com/blog/ipo-lock-in-periodClick here
10dspim.comhttps://www.dspim.com/blog/prime/the-privilege-of-early-access-tapping-the-pre-ipo-advantage-volume-1Click here
11indiainfoline.comhttps://www.indiainfoline.com/knowledge-center/ipo/importance-of-investing-in-pre-ipo-companiesClick here
12blinkx.inhttps://blinkx.in/en/knowledge-base/ipo/what-is-pre-ipo-investingClick here
13ipoplatform.comhttps://www.ipoplatform.com/blogs/what-is-pre-ipo-investment-and-role-of-ipo-advisors/142Click here
14s45.aihttps://s45.ai/feeds/blog/pre-ipo-sharesClick here
15sapientservices.comhttps://www.sapientservices.com/pre-ipo-valuation/Click here

Question 5.5

How do I find investors for my company in India?

Every named entity is a directory, a platform or a government portal. A company looking for capital is pointed at lists of investors rather than at anyone who could introduce it to them.

Top 5 brands named

  1. Rank 1OpenVC
  2. Rank 2Private Equity List
  3. Rank 3AngelList India
  4. Rank 4SMERGERS
  5. Rank 5Startup India

Top 15 citations

#Citation domainCitation URLActual page
1openvc.apphttps://www.openvc.app/country/IndiaClick here
2privateequitylist.comhttps://privateequitylist.com/investors/venture-capital/indiaClick here
3angellistindia.comhttps://angellistindia.com/Click here
4smergers.comhttps://www.smergers.com/private-equity-firms-in-india/c33m4i/Click here
5startupindia.gov.inhttps://www.startupindia.gov.in/content/sih/en/bloglist/blogs/pitch-your-idea.htmlClick here
6cleartax.inhttps://cleartax.in/s/get-investors-startup-indiaClick here
7startuptalky.comhttps://startuptalky.com/find-investor/Click here
8visible.vchttps://visible.vc/blog/top-vcs-in-india-startup-funding-guide/Click here
9angelmatch.iohttps://angelmatch.io/investors/by-location/indiaClick here
10clutch.cohttps://clutch.co/in/funding-investment/private-equityClick here
11privateplacements.inhttps://privateplacements.in/Click here
12growthjockey.comhttps://www.growthjockey.com/blogs/top-vc-funds-of-indiaClick here
13vcsheet.comhttps://www.vcsheet.com/sheet/funds-investing-in-indiaClick here
14thestartupboard.comhttps://www.thestartupboard.com/blog/top-5-ways-to-find-investors-for-startups-in-indiaClick here
15indiabizforsale.comhttps://www.indiabizforsale.com/business/investment-in-indiaClick here
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Conclusion

This report is a snapshot. AI engines refresh their sources every week, and the brands that move first tend to hold the top spot. Only about 22 of the 69 named organizations are investment banks or deal advisers, and in the whole category about selling a company not one reaches the top five.