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SEBI Registered Merchant Banker · Mainboard: 4 · SME: 3
7
Total IPOs Managed
+60.8%
Avg Listing Gain
4
Mainboard IPOs
3
SME IPOs
Cumulative Capital Private Limited is a Mumbai-based merchant banker that only came into existence in 2023 — so it's genuinely new to the market. That said, the team behind it isn't. They collectively bring around three decades of experience across merchant banking, corporate advisory, and structured finance, which means the firm isn't starting entirely from scratch.
It holds a SEBI Category I license and has wasted little time getting active in the SME IPO space, helping smaller companies list on BSE SME and NSE Emerge. Beyond IPOs, it also handles rights issues, takeovers, buybacks, and general corporate advisory work.
For a firm barely a couple of years old, the pipeline looks reasonably busy — several DRHPs already filed and a handful of completed listings on record. Worth watching to see how it grows.
Contact Details:
Address: Andheri Kurla Road, Hanuman Nagar, Andheri (East), Mumbai
Phone: +91 98196 62664
Email: [email protected]
Website: www.cumulativecapital.group
| IPO | Segment | Open Date | Issue Size | Issue Price | Subscription | Listing Gain | Listing Date |
|---|---|---|---|---|---|---|---|
Veegaland Developers IPO
Listed
|
Mainboard | ₹210.0 Cr | ₹140 | 14.60× | +114.3% | ||
| Mainboard | ₹138.9 Cr | ₹45 | 53.52× | +7.2% | |||
Goldline Pharmaceutical IPO
Listed
|
SME | ₹12.0 Cr | ₹43 | 840.74× | - | ||
Mehul Telecom IPO
Listed
|
SME | ₹28.0 Cr | ₹98 | 9.91× | - | ||
| Mainboard | - | - | - | - | - | - | |
Prodocs Solutions IPO
Listed
|
SME | ₹27.6 Cr | ₹138 | 2.66× | - | ||
Appl Containers IPO
Soon
|
Mainboard | - | - | - | - | - | - |
A lead manager, also known as a merchant banker, is a SEBI-registered financial institution appointed by a company to manage its Initial Public Offering (IPO). The lead manager plays a central role in taking a company from the decision to go public all the way to its listing on BSE or NSE.
Key responsibilities of a lead manager include conducting due diligence on the issuer company, preparing the DRHP (Draft Red Herring Prospectus), filing documents with SEBI, setting the price band, managing the book building process, coordinating with stock exchanges, registrars, and bankers, and ensuring the IPO opens and closes smoothly.
The quality of the lead manager often influences investor confidence in the IPO. Reputed merchant bankers like SBI Capital, Axis Capital, IIFL, and others have a track record of managing successful listings. However, it is always advisable to evaluate the issuer company's fundamentals independently before applying to any IPO.
Disclaimer
IPO data shown on this page is for informational purposes only. Past performance of IPOs managed by a merchant banker does not guarantee future results. Always read the prospectus and consult a SEBI-registered financial advisor before investing.
A lead manager (merchant banker) is a SEBI-registered entity responsible for managing the entire IPO process — from due diligence and DRHP preparation, to filing with SEBI, setting the price band, managing book building, and coordinating the listing on BSE or NSE. They act as the primary intermediary between the issuer company and the investing public.
Cumulative Capital Pvt.Ltd. has managed 7 IPOs tracked on IPORise, including 4 Mainboard and 3 SME IPOs. You can view the complete list, subscription data, and listing performance in the table above.
High subscription reflects investor demand, which is shaped by company fundamentals, valuation, grey market sentiment, and broader market conditions. A capable lead manager contributes to better price discovery and institutional interest. However, subscription numbers alone are not a reliable measure of lead manager quality — evaluate the issuer independently.
You can verify the SEBI registration of any merchant banker on the official SEBI website (sebi.gov.in) under the "Intermediaries/Market Infrastructure Institutions" section. All SEBI-registered merchant bankers are listed with their registration number, validity, and contact details.
