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SEBI Registered Merchant Banker · Mainboard: 2 · SME: 3
5
Total IPOs Managed
+18.8%
Avg Listing Gain
2
Mainboard IPOs
3
SME IPOs
Interactive Financial Services Limited (IFSL) has been around since 1994, which is actually quite a long run for a capital markets firm. Based out of Ahmedabad, Gujarat, the company works as a Category-I Merchant Banker under SEBI — essentially helping businesses navigate the more complex end of financial transactions.
Their bread and butter is merchant banking and corporate advisory. In practice, that means they help companies get listed on SME platforms, sort out valuations, shift from SME boards to the main exchange, handle takeovers, and manage mergers and acquisitions. They also do some IT services work, mostly in the healthcare revenue cycle space, which is a slightly unusual combination but not uncommon for smaller diversified firms.
The company is listed on BSE (Scrip Code: 539692) and reported revenue of ₹8.51 crore for FY2025 — up sharply, with a 145% year-on-year growth rate. Small team though, just 8 people on the payroll.
The current board includes Pradip Ramprasad Sandhir, Mayur Rajendrabhai Parikh, Rutu Milindbhai Sanghvi, Raghav Jobanputra, and Monil Kamleshkumar Shah.
Contact Details
Address: 508, Fifth Floor, Priviera, Nehru Nagar, Ahmedabad, Gujarat – 380015
CIN: L65910GJ1994PLC023393
Stock Exchange: BSE Limited | Scrip Code: 539692
| IPO | Segment | Open Date | Issue Size | Issue Price | Subscription | Listing Gain | Listing Date |
|---|---|---|---|---|---|---|---|
Anlon Healthcare IPO
Listed
|
Mainboard | ₹121.0 Cr | ₹91 | 7.13× | +1.1% | ||
| SME | ₹37.0 Cr | ₹220 | 1.06× | +90.0% | |||
Gulf Lloyds (India) IPO
Listed
|
SME | ₹18.2 Cr | ₹100 | 13.51× | - | ||
Harikanta Overseas IPO
Listed
|
SME | ₹24.0 Cr | ₹91 | 1.17× | - | ||
Shree Ram Twistex IPO
Listed
|
Mainboard | ₹110.0 Cr | ₹104 | 43.66× | -34.6% |
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.
Interactive Financial Services Ltd. has managed 5 IPOs tracked on IPORise, including 2 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.
