SEBI Registered Merchant Bankers Services & Solutions

S45 helps growth-stage Indian companies navigate IPO readiness, drafting, pricing, distribution, and post-listing support through an AI-led platform built for India’s public markets. From SME IPO planning to Main Board execution under SEBI-regulated frameworks, founders and CFOs get faster workflows, cleaner documentation, and sharper investor demand visibility before critical listing decisions.

Merchant banking team advising on IPO strategy

Our Merchant Banking Services

End-to-end IPO and capital markets support for Indian companies preparing for SME or Main Board listings.

IPO Readiness

Assess listing eligibility, governance, disclosures, cap table structure, and financial preparedness with AI-led diagnostics built for Indian IPO pathways.

DRHP Drafting

Coordinate data rooms, draft offer documents, manage SEBI queries, and streamline regulatory workflows for cleaner, faster filing execution.

SME IPO Advisory

Plan and execute SME listings with support for exchange selection, market maker coordination, lot sizing, and migration strategy.

Main Board IPO

Guide larger issuers through Main Board readiness, institutional positioning, bookbuilding support, and compliance under SEBI ICDR requirements.

Pricing & Distribution

Support valuation framing, anchor allocation strategy, investor mapping, and category-wise demand planning across QIB, NII, and retail segments.

Post-Listing IR

Maintain momentum after listing with investor relations planning, liquidity support, institutional outreach, and follow-on capital market preparation.

AI-Led Capital Markets

Built for Faster, Cleaner IPO Execution

S45 combines founder-level operating experience with AI-enabled workflows to help Indian companies prepare for public markets with more control and less friction. Whether you are evaluating an SME IPO, planning a Main Board listing, or strengthening DRHP readiness, the platform brings structure to documentation, pricing support, investor mapping, and post-listing follow-through within India’s SEBI-regulated environment.

IPO advisory team reviewing readiness and filing plans
Execution With Proof

Success Stories

See how disciplined execution and market insight support stronger IPO outcomes for Indian issuers.

"In our EPC and electricals business, the biggest worry is whether a banker will truly understand how work actually gets done, but with S45 that clarity came immediately. They grasped our contracts, receivables, working-capital cycles and project timelines faster than anyone we've worked with, and the entire process felt structured..."

Mr Jignesh Patel
Mr Jignesh Patel
The S45 Difference

Why Choose S45?

S45 brings technology, execution discipline, and capital markets insight into one connected IPO workflow.

AI-Led

AI-powered workflows reduce document chaos and surface readiness gaps before formal IPO diligence begins.

Fast Execution

Typical mandates move from first call to signed engagement in just 7 days.

Market Reach

Mapped access to 50,000+ investors supports sharper distribution planning across Indian IPO categories.

Founder Built

Built by operators and bankers who understand SME and Main Board execution realities in India.

Meet the S45 Team

Founders with operator and capital markets depth.

Portrait of Deepank Bhandari, Co-Founder of S45

Deepank Bhandari

Founder

Deepank is the Founder of S45, an AI native investment bank focused on closing the capital markets gap for India's best emerging businesses. He works with founders who have built real, scalable companies and helps them access structured capital and public markets with clear, disciplined execution.He brings over 14 years of experience across investment banking, private equity, quick commerce, fintech, supply chain and actuarial sciences, with operating and investing roles at Blinkit, 1mg, BNP Paribas and Alcazar Capital. Before S45, he built a fintech platform that raised 5 million dollars in seed funding and grew into a meaningful wealth tech and structured finance business, which ultimately evolved into the S45 mission.Having scaled one of his ventures 10x to 60 million dollars in ARR, he has seen how strong fundamentals can still be held back by a lack of fit with traditional capital. Too operational for new age venture capital, too early for large institutions and unwilling to over dilute for private equity. Those constraints shaped his view on how capital should work for founders, not the other way around. At S45, his focus is on empowering 1,000 entrepreneurs over the next few years with the capital, strategic guidance and operating support they need to grow into India's next generation of resilient, high growth, blue chip companies.

Portrait of Pankaj Harlalka, Co-Founder of S45

Pankaj Harlalka

Founder

Pankaj is the Co-founder of S45, bringing over two decades of experience in capital markets, merchant banking and corporate advisory. A Company Secretary by training, he began his career at Dolphin Laboratories before moving into merchant banking at Microsec India Limited in 2003, where he developed a deep specialization in public markets and corporate transactions. Over his 22 year career, he has helped lead more than 16 main board IPOs, executed over 25 takeovers and managed rights issues, buybacks, mergers and demergers across multiple sectors. He has worked closely with some of East India's most prominent listed companies, including Ramkrishna Forgings, Rupa, Emami, Haldia Petrochemicals and Centuryply, guiding them through key phases of growth and market expansion. In his most recent role, Pankaj was part of the investor relations team at Shyam Metallics and Energy Limited, gaining firsthand insight into how large corporates think about strategy, capital allocation and sustained market performance. Having seen both the decisions that create lasting value and the missteps that hold companies back, he has built a strong track record in advising mid sized businesses on capital raising, M&A and long term value creation. At S45, he focuses on guiding founders through strategic growth initiatives, identifying acquisition opportunities and opening access to India's public markets. He brings a deep belief in empowering high potential entrepreneurs and is committed to reshaping the capital markets journey for India's small and mid sized enterprises.

Portrait of Aman Singh, Co-Founder of S45

Aman Singh

Founder

Aman is the Co-founder of S45, where he focuses on investing in and scaling high growth businesses. His work sits at the intersection of capital, strategy and operations, helping founders move from early traction to durable, compounding growth. He began his entrepreneurial journey while still at IIT Delhi, founding SayF in his pre final year and growing it into a venture backed company with a multi million dollar business footprint. After SayF, he worked directly with the founders of a Bay Area SaaS startup backed by Khosla Ventures, leading strategic and growth initiatives across product, sales and operations. His experience spans fintech, consumer technology and enterprise SaaS, with a focus on building from zero to one and then scaling with discipline. Having built and advised companies through fundraising cycles, product pivots and execution challenges, Aman has developed a clear understanding of capital efficiency, growth levers and what it takes to build resilient businesses. Growing up in an Indian Army household shaped his approach to work, with a strong bias for action, adaptability and resilience. At S45, he works closely with founders to refine strategy, unlock new growth opportunities and navigate fundraising with confidence. With firsthand experience as a founder, he focuses on helping entrepreneurs build enduring, purposeful companies with long term value. Outside of work, he enjoys travelling, meeting interesting people and spending time with long form essays and non fiction.

Frequently Asked Questions

What is SEBI registered merchant banker?

A SEBI registered merchant banker is an intermediary authorised by the Securities and Exchange Board of India to manage issue-related activities such as public offerings, due diligence, offer document coordination, pricing support, and regulatory compliance. Category-I merchant bankers can act as lead managers for IPOs and other capital market issues, helping issuers navigate SEBI ICDR requirements, exchange processes, investor allocation, and disclosure standards.

What is the role of merchant banker in SME IPO?

What are the categories of merchant bankers as per SEBI?

How early should a company engage a merchant banker before an IPO?

What is the difference between SME IPO and Main Board IPO advisory?

What documents and preparation are needed before DRHP drafting starts?

How do merchant bankers support IPO pricing and investor distribution?

Do merchant bankers help after the company gets listed?

Still Have Questions About IPO Advisory?

Speak with our team for clear guidance on readiness and execution.

Trusted Signals

Awards and Recognition

Category-I execution partner trust badge

Category-I Execution Partner

Lead manager support through regulated partnership.

AI-native platform trust badge

AI-Native Platform

Technology-led workflows for cleaner execution.

Institutional investor reach trust badge

Institutional Investor Reach

Mapped network across major investor categories.

Start Your IPO Readiness Conversation

Share your stage, listing goals, and timeline. Our team will review your requirements and help outline the right next steps.

Contact Us Today

For immediate assistance, feel free to give us a direct call at +91 95879 52454.