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Defined by Trust Driven by Execution

A leading merchant banking and advisory company providing comprehensive solutions to clients across India.

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Category - I SEBI Registered Merchant Banker
30+ Years
500+ Clients Serviced
₹ 11,500 Cr. + Funds Raised
PAN India Presence
About Vivro

A legacy of trust built over four decades

Vivro was founded as an independent financial advisory firm focused on helping businesses access capital and execute transformative transactions.

As a SEBI Registered Category I Merchant Banker, we have assisted promoters, entrepreneurs, and institutions structure and deliver complex financial solutions — from capital market transactions and strategic mergers to debt financing and corporate advisory.

Our approach combines a deep understanding of the Indian capital markets with rigorous financial discipline, due diligence and hands-on execution. Every mandate we undertake is led by senior professionals who work closely with clients through each stage of the transaction.

We take pride in the fact that since our incorporation in 1996, Vivro has built a reputation for providing thoughtful advice, meticulous execution, and long-term partnership with its clients.

Know More Our Team
Service Offerings

Distinct capabilities,
holistic approach

We offer a comprehensive suite of financial solutions designed to support businesses and investors across every stage of their growth journey. From capital market transactions and structured financing to strategic advisory, valuation, and wealth management, our integrated approach combines deep domain expertise with a strong understanding of market dynamics. We work closely with our clients to deliver tailored, insight driven solutions

Capital Market Services

Vivro Financial Services Private Limited, registered with SEBI as a Category I Merchant Banker, advises companies on public market transactions including Equity IPOs, Debt Issuances, Rights Issues, Open Offers, Buybacks and other equity offerings.

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Corporate Finance

Arranging structured debt solutions including project finance, working capital facilities, and loan syndication.

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Corporate Advisory

Raising growth capital through private placements, institutional investors and structured financing solutions as well as strategic advisory on acquisitions, divestitures, mergers, and shareholder exits.

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Valuation Services

Independent valuation services for securities and complex financial assets to support corporate transactions, regulatory requirements and financial reporting.

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Wealth Services

Wealth solutions for UHNI, HNI, Institutional and Retail investors across products and offerings.

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Our Philosophy

Principles that
guide everything
we do

We are built on three core principles that underpin every engagement we undertake, from the smallest advisory mandate to the most complex multi-party transaction.

Value Creation

Our recommendations are guided by the interests of our clients, successful transaction outcomes and long-term value creation. We measure success by the results our clients achieve.

Execution Discipline

Complex transactions require careful structuring, coordination with multiple stakeholders, and regulatory precision. We focus on disciplined execution at every step of the process.

Long-Term Partnerships

We believe financial advisory works best when relationships extend beyond a single transaction. Many of our engagements evolve into long-term partnerships as clients grow and pursue new opportunities.

Core Values

Values that

drive us

Through discretion, consistency and sound judgment, Vivro builds relationships that endure across multiple transactions and strategic decisions. Our values are not aspirational — they are the operating principles that define how we work.

Integrity

Highest standards of honesty and professional responsibility in every engagement.

Independence

Objective, unbiased advice clients can rely on for their most important decisions.

Alignment

Acting in alignment with clients, regulators and market participants at all times.

Excellence

Rigor, preparation and attention to detail to deliver outcomes with precision.

Trust

Discretion, consistency and judgment that builds relationships over time.

Transaction Highlights

IPO | Sept 2026 Shanti Inorganics Limited

INR 472.3 Million

IPO | Invalid Date Bondada Engineering Limited

4,27.0 Million

Lead Manager to the Issue 

IPO | Invalid Date Shiv Texchem Ltd.

1,013.5 Million

Lead Manager to the Issue

IPO | Invalid Date Ganesh Infraworld Ltd.

985.8 Million

Lead Manager to the Issue

IPO | Invalid Date Fabtech Technologies Cleanrooms Ltd.

277.4 Million

Lead Manager to the Issue

IPO | Invalid Date Eleganz Interiors Ltd.

780.7 Million

Lead Manager to the Issue

IPO | Invalid Date Spunweb Nonwoven Ltd.

609.8 Million

Lead Manager to the Issue

IPO | Invalid Date FLYSBS Aviation Ltd.

1,025.3 Million

Lead Manager to the Issue

IPO | Invalid Date Sattva Engineering Construction Ltd.

353.8 Million

Lead Manager to the Issue

IPO | Invalid Date Justo Realfintech Ltd.

630 Million

Lead Manager to the Issue

IPO | Invalid Date Neochem Bio Solutions Ltd.

449.7 Million

Lead Manager to the Issue

IPO | Invalid Date Silverstorm Parks & Resorts Ltd.

724.1 Million

Lead Manager to the Issue 

Buy-Back | Invalid Date Puretrop Fruits Limited

200 Million

Buy-Back | Invalid Date AIA Engineering Limited

5000 Million

Buy-Back | Invalid Date Ajanta Pharma Limited

2850.1 Million

Buy-Back | Invalid Date Freshtrop Fruits Limited

336.9 Million

Buy-Back | Invalid Date Siyaram Silk Mills Limited

1080 Million

Buy-Back | Invalid Date Mindteck (India) Limited

137 Million

Takeover | Invalid Date Rekvina Laboratories Limited

Manager to the Offer

Rights Issue | Invalid Date Ace Software Exports Limited

499.2 Million

Rights Issue | Invalid Date IRB Infrastructure Trust

17,149.2 Million

Rights Issue | Invalid Date IRB Infrastructure Trust

22,527 Million

Rights Issue | Invalid Date IRB Infrastructure Trust

28,619.5 Million

Rights Issue | Invalid Date Rajapalayam Mills Limited

349.7 Million

Rights Issue | Invalid Date Cinerad Communications Limited (now GTT Data Solutions Limited)

498.2 Million

NCD Issue | Invalid Date ICL Fincorp Limited

4,251.1 Million

Lead Manager (Multiple Issues)

NCD Issue | Invalid Date KLM Axiva Finvest Limited

33,353 Million

Lead Manager (Multiple Issues)

NCD Issue | Invalid Date Chemmanur Credits and Investments Limited

11,740.4 Million

Lead Manager (Multiple Issues)

NCD Issue | Invalid Date Kosamattam Finance Limited

41,055.3 Million

Lead Manager (Multiple Issues)

NCD Issue | Invalid Date Muthoot Mercantile Limited

12,411 Million

Lead Manager (Multiple Issues)

NCD Issue | Invalid Date Muthoottu Mini Financiers Limited

39,169.3 Million

Lead Manager (Multiple Issues)

NCD Issue | Invalid Date Manappuram Home Finance Limited

958.5 Million

Lead Manager to the Issue

Advisory | Invalid Date Gujarat State Petroleum Corporation Limited

Advisory | Invalid Date Swiss Glascoat Equipments Limited

Advisory | Invalid Date Privi Speciality Chemicals Limited

Advisory | Invalid Date Deep Energy Resources Limited (formerly Deep Industries Limited)

Advisory | Invalid Date Astral Limited

Advisory | Invalid Date Vinati Organics Limited

Advisory | Invalid Date Meghmani Organics Limited

Advisory | Invalid Date Revathi Equipment India Limited

Advisory | Invalid Date Ace Software Exports Limited

Advisory | Invalid Date Asian Energy Services Limited

Techno Economic Viability Studies | Invalid Date Stallion Laboratories Pvt. Ltd

Pharmaceuticals

Techno Economic Viability Studies | Invalid Date Sunmark Stainless Steel Pvt. Ltd.

Manufacturing (SS Pipes and Tubes)

Techno Economic Viability Studies | Invalid Date Advait Infratech Ltd.

Manufacturing (ACS Wires and Tools)
Techno Economic Viability Studies | Invalid Date Kamlaamrut Pharmaceuticals LLP

Pharmaceuticals
Techno Economic Viability Studies | Invalid Date Decro Pharma Pvt. Ltd.

Pharmaceuticals

Techno Economic Viability Studies | Invalid Date Nexois Paper LLP

Manufacturing (Kraft Paper

Techno Economic Viability Studies | Invalid Date Vaibhavlaxmi Spinning Mills Pvt. Ltd.

Renewable energy

Techno Economic Viability Studies | Invalid Date Goldi Sun Pvt. Ltd.

Manufacturing (Solar Module

Techno Economic Viability Studies | Invalid Date KPI Global Infrastructure Ltd.

Renewable energy

Techno Economic Viability Studies | Invalid Date Vaibhavlaxmi Spintex LLP

Renewable energy

Techno Economic Viability Studies | Invalid Date Hightec Chemplast Pvt. Ltd.

Manufacturing (AAC Blocks

Techno Economic Viability Studies | Invalid Date Shlokka Dyes Pvt. Ltd.

Chemical
Techno Economic Viability Studies | Invalid Date Mahalaxmi Oil Mills

Agro & Food Processing (Oil Mill and Cattle Feed Manufacturing

Techno Economic Viability Studies | Invalid Date KP Energy Ltd

Renewable Energy

Techno Economic Viability Studies | Invalid Date Kings Dried Food Pvt. Ltd.

Agro & Food Processing (Dehydrated Onions)

Techno Economic Viability Studies | Invalid Date VMS TMT Ltd.

Manufacturing (TMT Bar)

Techno Economic Viability Studies | Invalid Date German TMX Pvt. Ltd.

Manufacturing (TMT Bar) & Renewable Energy

Techno Economic Viability Studies | Invalid Date KPI Green Energy

KPI Green Energy

Techno Economic Viability Studies | Invalid Date Nexois Paper LLP

Manufacturing (Brown Paper

Techno Economic Viability Studies | Invalid Date Archrom Organics LLP

Chemical

Techno Economic Viability Studies | Invalid Date Nutri Kingdom Pvt. Ltd.

FMCG & Food Processing (Peanut Butter)

Techno Economic Viability Studies | Invalid Date Panchsheel Developers

Real Estate (Commercial)
Techno Economic Viability Studies | Invalid Date KPI Green Energy

Renewable Energy
Techno Economic Viability Studies | Invalid Date GSP Crop Science Intermediates

Agro Chemicals Intermediates & API
Techno Economic Viability Studies | Invalid Date KP Energy Ltd.

Renewable Energy

Techno Economic Viability Studies | Invalid Date Avantis Group

Real Estate (Residential

Techno Economic Viability Studies | Invalid Date Sustainable Spinning and Commodities Pvt. Ltd.

Textile & Renewable Energy

Techno Economic Viability Studies | Invalid Date Amber Spintex Pvt. Ltd.

Textile & Renewable Energy

Techno Economic Viability Studies | Invalid Date German TMX Pvt. Ltd.

Renewable Energy
Techno Economic Viability Studies | Invalid Date Goldi Sun Pvt. Ltd.

Manufacturing (Solar Module)
Techno Economic Viability Studies | Invalid Date Ratnaveer Precision Engineering Ltd.

Manufacturing (Engineering Products)

Techno Economic Viability Studies | Invalid Date Magnastar LLP (Citadel)

Real Estate (Commercial)
Techno Economic Viability Studies | Invalid Date Zazen Healthcare Pvt. Ltd.

Pharmaceuticals

Techno Economic Viability Studies | Invalid Date Teknofine Foods Pvt. Ltd.

Food Processing (Hashbrown Manufacturing)

Techno Economic Viability Studies | Invalid Date Ratnaveer Precision Engineering Ltd.

Manufacturing (Copper Clad Laminates)
Techno Economic Viability Studies | Invalid Date Permian Peak Oil Pvt. Ltd.

Crude Oil Extraction

Techno Economic Viability Studies | Invalid Date Alpha Devraj Renewable Energy LLP

Renewable Energy

Techno Economic Viability Studies | Invalid Date Abyuday Bharat Projects Pvt. Ltd.

Manufacturing (Drone)

Techno Economic Viability Studies | Invalid Date Autade Sugar and Distilleries Pvt. Ltd.

Agro & Food Processing (Sugar)

Techno Economic Viability Studies | Invalid Date Hanu Green Energy Pvt. Ltd.

Manufacturing (Solar Module)

Techno Economic Viability Studies | Invalid Date Yashashvi Yash Ventures LLP (The Hub)

Real Estate (Commercial)

Techno Economic Viability Studies | Invalid Date Total Solar Technologies Pvt. Ltd.

Manufacturing (Solar Module)

Techno Economic Viability Studies | Invalid Date Asandas and Sons Pvt. Ltd

Food Processing (Potato

Techno Economic Viability Studies | Invalid Date Riddhi Steel and Tubes Ltd.

Manufacturing (Iron & Steel)
Techno Economic Viability Studies | Invalid Date Steamhouse India Ltd .

Energy Development & Distribution (Steam)

Techno Economic Viability Studies | Invalid Date OPES Healthcare Pvt. Ltd.

Pharmaceuticals

Techno Economic Viability Studies | Invalid Date Maksteel Inox Pvt. Ltd.

Manufacturing (Bright Bars)

Techno Economic Viability Studies | Invalid Date RKC Infrabuilt Rajasthan Power Pvt. Ltd

Renewable Energy

From Our Clients

Quote

Our association with Vivro Financial Services for NBSL’s SME IPO reaffirmed why they are a name of trust in this space. Vivro has built a reputation for backing companies with strong governance, long-term vision, and genuine quality — not just transaction volume — and that philosophy came through in every stage of our engagement. Their team combines deep technical expertise with a well-networked, credible investor base, which ensured NBSL’s IPO was positioned with the right investors from day one. We found them to be professional, meticulous, and genuinely invested in our long-term success as a listed entity.

Swapnil R Makati

Managing Director | Neochem Bio Solutions Limited

Quote

We sincerely appreciate the professional services provided by Vivro Financial Services Private Limited in successfully managing our Company's Initial Public Offering (IPO). Your team demonstrated exceptional professionalism, sound regulatory knowledge, and strong execution capabilities throughout the pre-IPO, IPO, and post-listing stages. Vivro's timely guidance, efficient coordination with all stakeholders, and commitment to meeting critical timelines contributed significantly to the successful listing of our Company.

We value Vivro's dedication, responsiveness, and expertise and are pleased to recommend Vivro for merchant banking and capital market advisory services. We wish Vivro continued success in all its future endeavours.

Spunweb Nonwoven Limited

Director | Kishan Kagathara

Quote

What we value most about Vivro is their ability to look at every assignment in the context of our larger business objectives rather than as a standalone transaction. Whether supporting on our Rights Issue or other strategic initiatives, they have consistently brought clarity, perspective, and a solution-oriented approach. Their involvement has always been marked by careful planning, sound judgment, and an unwavering focus on delivering value.

P.R. Venketrama Raja

Chairman | Rajapalayam Mills Limited

Quote

Vivro acted as Manager to our buyback transactions and a clear grasp of the applicable regulatory framework and a disciplined approach to execution. The process was well coordinated, timelines were met, and compliance requirements were addressed thoroughly throughout. We appreciate the responsiveness and practical approach demonstrated by Vivro team over the course of the engagement. Our thanks to you and your team for the support extended during the engagement.

Paawan Bhargava

Company Secretary & Compliance Officer | Sasken Technologies Limited

Quote

Vivro has been instrumental in the successful execution of our NCD issuances, providing comprehensive support at every stage of the process. Their ability to combine market insight with meticulous execution ensured that each transaction was completed efficiently and in line with our objectives. Beyond managing the transaction, their team remained accessible, responsive, and focused on delivering practical solutions whenever challenges arose. Their commitment to quality, attention to detail, and understanding of the debt capital markets have made them a dependable advisor, and we value the confidence and assurance they bring to every engagement.

Anju Thomas

Company Secretary | Chemmanur Credits and Investments Limited