Boutique I-Banks Ride India's IPO Wave: Small Firms Reap Big Rewards in 2025's Listing Frenzy

India's IPO boom in 2025 is proving to be a goldmine for small and mid-sized investment banks. As the market anticipates over ₹2 lakh crore in fundraising this year, boutique firms are carving out significant roles in the flurry of public offerings. With 28 companies already cleared to raise ₹46,000 crore and another 80 awaiting approval for ₹1.32 lakh crore, smaller I-banks are leveraging their niche expertise and agility to secure mandates. This trend is reshaping the competitive landscape, allowing boutique firms to challenge the dominance of global giants in India's thriving IPO market.
Sources: Fortune India, Prime Database