A Merchant Bank is a financial institution who provides underwriting, lending services, financial advice, and fundraising for major enterprises and high-net-worth people (HNIs). Due to their expertise in international trade, merchant banks are also professionals in working with multinational firms. Merchant banks do not offer financial services to the general public, unlike retail or commercial banks.

The List of Merchant Bankers in India are as follows:

1	3 DIMENSION CAPITAL SERVICES LTD.
2	A.K. CAPITAL SERVICES LTD.
3	AFCO CAPITAL INDIA PVT.LTD.
4	AJCON GLOBAL SERVICES LTD.
5	AKASAM CONSULTING PVT.LTD.
6	ALMONDZ GLOBAL SECURITIES LTD.
7	AMBIT CAPITAL PVT.LTD.
8	AMBIT PVT.LTD.
9	ANAND RATHI ADVISORS LTD.
10	ARIHANT CAPITAL MARKETS LTD.
11	ARYAMAN FINANCIAL SERVICES LTD.
12	ASHIKA CAPITAL LTD.
13	ASIT C. MEHTA INVESTMENT INTERRMEDIATES LTD.
14	ATIVIR FINANCIAL CONSULTANTS PVT.LTD.
15	AVENDUS CAPITAL PVT.LTD.
16	AVISTA CORPORATE FINANCE ADVISORY PVT.LTD.
17	AXIS BANK LTD.
18	AXIS CAPITAL LTD.
19	BAJAJ CAPITAL LTD.
20	BANK OF MAHARASHTRA
21	BARCLAYS BANK PLC
22	BASAN FINANCIAL SERVICES LTD.
23	BATLIVALA & KARANI SECURITIES INDIA PVT.LTD.
24	BCB BROKERAGE PVT.LTD.
25	BEELINE BROKING LTD.
26	BNK SECURITIES PVT.LTD.
27	BNP PARIBAS
28	BOB CAPITAL MARKETS LTD.
29	BOI MERCHANT BANKERS LTD.
30	BONANZA PORTFOLIO LTD.
31	CANARA BANK
32	CAPITAL SQUARE ADVISORS PVT.LTD.
33	CENTRUM CAPITAL LTD.
34	CGS-CIMB SECURITIES (INDIA) PVT.LTD.
35	CHARTERED CAPITAL & INVESTMENT LTD.
36	CHARTERED FINANCE MANAGEMENT LTD.
37	CHOICE CAPITAL ADVISORS PVT.LTD.
38	CIL SECURITIES LTD.
39	CITIBANK N.A.
40	CITIGROUP GLOBAL MARKETS INDIA PVT.LTD.
41	CKP FINANCIAL SERVICES PVT.LTD.
42	CLSA INDIA PVT.LTD.
43	COMFORT SECURITIES LTD.
44	CORPORATE CAPITAL VENTURES PVT.LTD.
45	CORPORATE PROFESSIONALS’ CAPITAL PVT.LTD.
46	CORPORATE STRATEGIC ALLIANZ LTD.
47	CREDIT SUISSE SECURITIES (INDIA) PVT.LTD.
48	D&A FINANCIAL SERVICES PVT.LTD.
49	DAIWA CAPITAL MARKETS INDIA PVT.LTD.
50	DALMIA SECURITIES PVT.LTD.
51	DARASHAW & CO.PVT.LTD.
52	DBS BANK LTD.
53	DEUTSCHE BANK AG
54	DEUTSCHE EQUITIES INDIA PVT.LTD.
55	DMI CAPITAL PVT.LTD.
56	DOLAT FINSERV PVT.LTD.
57	DSP MERRILL LYNCH LTD.
58	DUFF & PHELPS INDIA PVT.LTD.
59	EDELWEISS FINANCIAL SERVICES LTD.
60	ELARA CAPITAL (INDIA) PVT.LTD.
61	EMKAY GLOBAL FINANCIAL SERVICES LTD.
62	EQUIRUS CAPITAL PVT.LTD.
63	ERNST & YOUNG MERCHANT BANKING SERVICES PVT.LTD.
64	ESCORTS SECURITIES LTD.
65	FAST TRACK FINSEC PVT.LTD.
66	FEDEX SECURITIES PVT.LTD.
67	FINSHORE MANAGEMENT SERVICES LTD.
68	FIRST GLOBAL FINANCE PVT.LTD.
69	FIRST OVERSEAS CAPITAL LTD.
70	FIRSTRAND BANK LTD.
71	FORTRESS CAPITAL MANAGEMENT SERVICES PVT.LTD.
72	GALACTICO CORPORATE SERVICES PVT.LTD.
73	GLOBAL TRUSTCAPITAL FINANCE PVT.LTD.
74	GOLDMAN SACHS (INDIA) SECURITIES PVT.LTD.
75	GREEN BRIDGE CAPITAL ADVISORY PVT.LTD.
76	GRETEX CORPORATE SERVICES PVT.LTD.
77	GUINESS CORPORATE ADVISORS PVT.LTD.
78	HAITONG SECURITIES INDIA PVT.LTD.
79	HDFC BANK LTD.
80	HEM SECURITIES LTD.
81	HOLANI CONSULTANTS PVT.LTD.
82	HONGKONG & SHANGHAI BANKING CORP.LTD.,THE
83	HPMG SHARES & SECURITIES PVT.LTD.
84	HSBC SECURITIES & CAPITAL MARKETS (INDIA) PVT.LTD.
85	ICICI BANK LTD.
86	ICICI SECURITIES LTD.
87	ICICI SECURITIES PRIMARY DEALERSHIP LTD.
88	IDBI BANK LTD.
89	IDBI CAPITAL MARKETS & SECURITIES LTD.
90	IDFC FIRST BANK LTD.
91	IDFC SECURITIES LTD.
92	IFCI FINANCIAL SERVICES LTD.
93	IIFL SECURITIES LTD.
94	IL&FS CAPITAL ADVISORS LTD.
95	INDBANK MERCHANT BANKING SERVICES LTD.
96	INDIABULLS VENTURES LTD.
97	INDIAN OVERSEAS BANK
98	INDIANIVESH CORPORATE FINANCE PVT.LTD.
99	INDORIENT FINANCIAL SERVICES LTD.
100	INDUSIND BANK LTD.
101	INDUSTRIAL & COMMERCIAL BANK OF CHINA LTD.
102	INGA ADVISORS PVT.LTD.
103	INTEGRATED ENTERPRISES (INDIA) PVT.LTD.
104	INTELLIGENT MONEY MANAGERS PVT.LTD.
105	INTENSIVE FISCAL SERVICES PVT.LTD.
106	INVENTURE MERCHANT BANKER SERVICES PVT.LTD.
107	INVESTEC CAPITAL SERVICES (INDIA) PVT.LTD.
108	ISK ADVISORS PVT.LTD.
109	ITI CAPITAL LTD.
110	JEFFERIES INDIA PVT.LTD.
111	JM FINANCIAL LTD.
112	JP MORGAN INDIA PVT.LTD.
113	JPR CAPITAL PVT.LTD.
114	KARUR VYSYA BANK LTD., THE
115	KARVY INVESTOR SERVICES LTD.
116	KEYNOTE FINANCIAL SERVICES LTD.
117	KHAMBATTA SECURITIES LTD.
118	KHANDWALA SECURITIES LTD.
119	KIM ENG SECURITIES INDIA PVT.LTD.
120	KJMC CORPORATE ADVISORS (INDIA) LTD.
121	KKR CAPITAL MARKETS INDIA PVT.LTD.
122	KOTAK MAHINDRA CAPITAL CO.LTD.
123	KREO CAPITAL PVT.LTD.
124	KUNVARJI FINSTOCK PVT.LTD.
125	L&T FINANCIAL CONSULTANTS LTD.
126	LADDERUP CORPORATE ADVISORY PVT.LTD.
127	LAZARD INDIA PVT.LTD.
128	LIBORD ADVISORS PVT.LTD.
129	LKP SECURITIES LTD.
130	LODHA CAPITAL MARKETS LTD.
131	LSI FINANCIAL SERVICES PVT.LTD.
132	MACQUARIE CAPITAL SECURITIES (INDIA) PVT.LTD.
133	MAPE ADVISORY GROUP PVT.LTD.
134	MARK CORPORATE ADVISORS PVT.LTD.
135	MARWADI SHARES & FINANCE LTD.
136	MASTER CAPITAL SERVICES LTD.
137	MEFCOM CAPITAL MARKETS LTD.
138	MEHTA INTEGRATED FINANCE LTD.
139	MIRAE ASSET CAPITAL MARKETS INDIA PVT.LTD.
140	MOELIS & CO. INDIA PVT.LTD.
141	MONARCH NETWORTH CAPITAL LTD.
142	MORGAN STANLEY INDIA CO.PVT.LTD.
143	MOTILAL OSWAL INVESTMENT ADVISORS LTD.
144	MPA FINANCIAL SERVICES LTD.
145	MUNOTH FINANCIAL SERVICES LTD.
146	NARNOLIA FINANCIAL ADVISORS LTD.
147	NAVIGANT CORPORATE ADVISORS LTD.
148	NEXGEN FINANCIAL SOLUTIONS PVT.LTD.
149	NIRBHAY CAPITAL SERVICES PVT.LTD.
150	NOMURA FINANCIAL ADVISORY & SECURITIES (INDIA) PVT.LTD.
151	NVS BROKERAGE PVT.LTD.
152	O3 CAPITAL GLOBAL ADVISORY PVT.LTD.
153	ORIENTAL BANK OF COMMERCE
154	PANTOMATH CAPITAL ADVISORS PVT.LTD.
155	PHILLIPCAPITAL (INDIA) PVT.LTD.
156	PIONEER INVESTCORP LTD.
157	PIRAMAL SECURITIES LTD.
158	PL CAPITAL MARKETS PVT.LTD.
159	PNB INVESTMENT SERVICES LTD.
160	PRIME SECURITIES LTD.
161	PUNJAB NATIONAL BANK
162	QUINTESSENCE ENTERPRISES PVT.LTD.
163	RABO INDIA SECURITIES PVT.LTD.
164	RBL BANK LTD.
165	RBSA CAPITAL ADVISORS LLP
166	REAL GROWTH SECURITIES PVT.LTD.
167	RESURGENT INDIA LTD.
168	ROTHSCHILD & CO. INDIA PVT.LTD.
169	RR INVESTORS CAPITAL SERVICES PVT.LTD.
170	S.K. FINCAP ADVISORS PVT.LTD.
171	SAFFRON CAPITAL ADVISORS PVT.LTD.
172	SAL SECURITIES PVT.LTD.
173	SARTHI CAPITAL ADVISORS PVT.LTD.
174	SBI CAPITAL MARKETS LTD.
175	SCSI VENTURES ADVISORS PVT.LTD.
176	SHARE INDIA CAPITAL SERVICES PVT.LTD.
177	SIHL CONSULTANCY LTD.
178	SKP SECURITIES LTD.
179	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
180	SMC CAPITALS LTD.
181	SMIFS CAPITAL MARKETS LTD.
182	SOBHAGYA CAPITAL OPTIONS LTD.
183	SPA CAPITAL ADVISORS LTD.
184	SPARK CAPITAL ADVISORS (INDIA) PVT.LTD.
185	SREI CAPITAL MARKETS LTD.
186	STANDARD CHARTERED BANK LTD.
187	STELLANT CAPITAL ADVISORY SERVICES PVT.LTD.
188	STRUGENCE CAPITAL ADVISORS LLP
189	SUMEDHA FISCAL SERVICES LTD.
190	SUN CAPITAL ADVISORY SERVICES PVT.LTD.
191	SUNDAE CAPITAL ADVISORS PVT.LTD.
192	SWASTIKA INVESTMART LTD.
193	SYNDICATE BANK
194	SYSTEMATIX CORPORATE SERVICES LTD.
195	TAMILNAD MERCANTILE BANK LTD.
196	TATA SECURITIES LTD.
197	TAURUS CORPORATE ADVISORY SERVICES LTD.
198	TIPSONS CONSULTANCY SERVICES PVT.LTD.
199	TRUST INVESTMENT ADVISORS PVT.LTD.
200	TURNAROUND CORPORATE ADVISORS PVT.LTD.
201	UBS SECURITIES INDIA PVT.LTD.
202	UNION BANK OF INDIA
203	UNITED BANK OF INDIA
204	V.B. DESAI FINANCIAL SERVICES LTD.
205	VALUE LINE ADVISORS PVT.LTD.
206	VC CORPORATE ADVISORS PVT.LTD.
207	VERTEX SECURITIES LTD.
208	VIOLET ARCH CAPITAL ADVISORS PVT.LTD.
209	VIVRO FINANCIAL SERVICES PVT.LTD.
210	VLS SECURITIES LTD.
211	YES BANK LTD.
212	YES SECURITIES (INDIA) LTD.