Investment banks earn Rs 2,274 crore from 81 mainboard IPOs
During the initial nine months of 2026, investment banks generated fees totaling ₹2,274 crore by managing 81 mainboard IPOs. This figure showcases a notable uptick in both earnings and amounts raised versus last year. The September quarter alone yielded around ₹1,600 crore, highlighting a remarkable rebound in the primary market.
Investment banks have profited substantially from the ongoing IPO boom, earning ₹2,274 crore in fees by managing 81 mainboard initial public offerings (IPOs) valued at ₹1.05 lakh crore in the January-September 2026 period, according to a study by Economic Times (ET). This is a considerable increase from the previous year's ₹2,238 crore earned from 74 IPOs worth ₹85,256 crore.
Investment banks generated the highest fees for NSE at ₹186 crore, followed by Manipal Health Enterprises at ₹165.94 crore. The fees earned by investment bankers have varied widely, ranging from 0.05% in SBI Funds Management to 15.6% for Innovision. The average fee has been around 3-4% so far in 2026. July-September saw the bulk of these fees, with a significant portion paid in the September quarter alone.
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