Initial public offerings (IPOs) by start-ups are bringing cheer to investors and investment bankers alike. After food delivery company Zomato, Nykaa has issued the fattest paycheque to the managers of its share sale Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore.

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In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO, while in percentage terms, it is the highest for large IPOs (>$300 million) in the last year, shows an analysis of the data provided by Prime Database, a primary market tracker.