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SEBI Registered Merchant Banker · SME: 2
2
Total IPOs Managed
-
Avg Listing Gain
-
Mainboard IPOs
2
SME IPOs
Interactive Financial Services Limited (IFSL) started in 1994 and has quietly built a three-decade presence in India's capital markets. Not a household name, but within merchant banking and corporate advisory circles in Gujarat, they've carved out a reasonably steady niche.
The core work is fairly specialized — helping companies get listed on SME platforms, managing valuations, facilitating moves from SME boards to the main exchange, and handling the legal and financial side of takeovers and M&A deals. They're also registered as a Category-I Merchant Banker with SEBI, which isn't a small credential to hold.
On the side, they do some IT consulting in the healthcare space — specifically around revenue cycle management. It's an odd pairing at first glance, but not unusual for a lean firm looking to diversify its revenue streams.
Numbers-wise, FY2025 revenue came in at ₹8.51 crore, a big jump from the year before — 145% growth, which sounds dramatic but makes more sense in context when you realize the team is just 8 people. The paid-up capital stands at roughly ₹6.93 crore, and the company trades on BSE under scrip code 539692.
Leadership is led by Pradip Ramprasad Sandhir alongside Mayur Rajendrabhai Parikh, Rutu Milindbhai Sanghvi, Raghav Jobanputra, and Monil Kamleshkumar Shah.
Where to reach them:
Office: 508, Fifth Floor, Priviera, Nehru Nagar, Ahmedabad, Gujarat – 380015
Email: [email protected]
CIN: L65910GJ1994PLC023393
BSE Scrip Code: 539692
Current Status: Active
| IPO | Segment | Open Date | Issue Size | Issue Price | Subscription | Listing Gain | Listing Date |
|---|---|---|---|---|---|---|---|
Quanto Agroworld IPO
Listed
|
SME | ₹31.0 Cr | ₹67 | 1.22× | - | ||
| SME | ₹25.0 Cr | ₹100 | 4.91× | - |
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.
Jawa Capital Services Pvt.Ltd. has managed 2 IPOs tracked on IPORise. 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.
