ICICI Securities Limited

First Overseas Capital Limited

SEBI Registered Merchant Banker | Mainboard IPO

About First Overseas Capital Limited

First Overseas Capital is a SEBI registered CAT I Merchant Banker located in Mumbai. They provide services in various areas of capital markets which include Merchant Banking Services, Valuation, Private Equity , Corporate Advisory and other financial solutions.

  • Incorporation Year
  • 2020
  • Registration No
  • INM000003671
  • City
  • Ahmedabad

IPO Performance

Total IPOs Managed

5+ IPOs

Total Issue Size (Rs Cr)

₹1,825 Cr+

Avg Issue Size (Rs Cr)

₹365 Cr+

Avg Listing Gain

27.47%

Listed in Gain

4

Listed in Loss

1

IPO Track Record

 IPO Listing Date Issue Size (₹ Cr) Subscription (x) IPO Price ₹ Listing Gain
Snapdeal Limited 2026-07-08 120 8.15x 152 25(16.45%)
Leap India Limited 2025-05-12 1200 25x 112 85(75.89%)
Dhoot Transmission Limited 2025-07-12 230 1.15x 105 -30(-28.57%)
Snapdeal Limited 2024-07-08 240 3.15x 270 97(35.93%)
PhonePe 2023-05-12 35 19x 85 32(37.65%)

Year Wise IPO Listing

1

-

FY 2024
1

No Change

FY 2025
2

+1 vs FY 2025

FY 2026
1

-1 vs FY 2026

FY 2027

IPOs by Subscription

Less than 1x 0 (0%)
1x - 3x 1 (20%)
3x - 5x 1 (20%)
5x - 10x 1 (20%)
More than 10x 2 (40%)

IPOs by IPO Size

Less than ₹100 Cr 1 (20%)
₹100 - ₹250 Cr 3 (60%)
₹250 - ₹500 Cr 0 (0%)
₹500 - ₹1,000 Cr 0 (0%)
Above ₹1,000 Cr 1 (20%)

Upcoming IPOs of First Overseas Capital Limited

Why is the Merchant Banker Important in an IPO?

A merchant banker plays a very important role in IPO as it:

  • Ensures the IPO follows all legal and regulatory rules, so investors get correct and transparent information.
  • Helps decide the right IPO price based on the company’s financials and market conditions.
  • Reviews the company’s business, risks, and financial health before offering shares to the public.
  • Connects the company with investors and creates demand for the IPO in the market.
  • Manages the entire IPO process, from draft papers to allotment and listing.
IPO

Frequently Asked Questions

First Overseas Capital Limited, as a lead manager, is a SEBI-registered merchant banker appointed by a company to plan, manage, and execute its IPO. They are responsible for ensuring the IPO follows all regulations and reaches investors smoothly.

The Lead Manager, like First Overseas Capital Limited, plays a key role in an IPO by structuring the issue, ensuring SEBI compliance, marketing the IPO to investors, and managing the entire process from filing to stock market listing. In India, an IPO cannot be launched without appointing a SEBI-registered Lead Manager, like First Overseas Capital Limited.

First Overseas Capital Limited , as the Lead Manager, is responsible for preparing the IPO prospectus (DRHP and RHP), conducting due diligence on the company, assisting in deciding the price band, and marketing the IPO to both institutional and retail investors. It also oversees the subscription process, share allotment, and final listing on the stock exchange.

First Overseas Capital Limited as a lead manager, only recommends the price band after analysing the company’s financials, industry valuations, and market conditions. The final decision is taken jointly with the company.

The Lead Manager ensures accurate and transparent disclosures, clear communication of risks to investors, and full compliance with SEBI regulations. Here, First Overseas Capital Limited, as the lead manager, also helps maintain a fair and orderly IPO process and is legally accountable for any misleading or incorrect information provided in the offer documents.

Yes. Mainboard IPOs often appoint multiple Lead Managers due to large issue sizes. SME IPOs appoint one Lead Manager.

A Book Running Lead Manager (BRLM) is the main Lead Manager who oversees the book-building process, collects bids from investors, and plays a crucial role in price discovery and share allocation during the IPO.

A reputed Lead Manager can improve investor confidence, attract institutional participation, and signal better due diligence. However, it does not guarantee listing gains or returns.

The Lead Manager’s name is disclosed in the IPO Prospectus (DRHP/RHP) and advertisements, BSE and NSE websites. For example, here the First Overseas Capital Limited acts as a lead manager, and you can check its details above.

No. After listing, the share price depends on Market demand and supply, Company performance and Overall market conditions. The Lead Manager’s role largely ends after listing.

Both play different but equally important roles. The Lead Manager manages and markets the IPO, pricing, and compliance, while the Registrar processes applications, allotment, refunds, and investor records.

No. A Lead Manager ensures a smooth and transparent IPO process, but listing gains depend on valuation, demand, and market sentiment.

Yes. In SME IPOs, the Lead Manager often also coordinates market making, which helps improve liquidity after listing. However, the choice of lead manager can be decided by the company.

Retail investors may look at the Number of IPOs handled, Experience in Mainboard or SME IPOs and Overall track record of the lead manager. This helps retail investors to assess credibility, not profitability.
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