IPO Advisory - SME & Mainboard
Everything a promoter needs before ringing the bell - eligibility, DRHP drafting, SEBI ICDR compliance, merchant-banker selection, pre-IPO structuring, cost and timeline. These are the pieces I work through with founders 12-24 months before a BSE SME, NSE Emerge or mainboard listing.
See the IPO Advisory servicePre-IPO Structuring: The 18 Months Before Filing
Bonus issues, share splits, promoter lock-in, ESOP cleanup, related-party purges - what actually happens between the board decision to list and the DRHP filing. A practical timeline for SME and mainboard candidates.
Read articleBSE SME vs NSE Emerge: Which Platform to List On
Eligibility, costs, post-listing liquidity, lot sizes and the practical differences - a CA's framework for choosing between BSE SME and NSE Emerge for your SME IPO.
Read articleDRHP Drafting: A CA's Section-by-Section Guide
From the cover page to risk factors to MD&A - what each section of a DRHP actually contains, who drafts it, and where founders typically lose months. The practitioner view, not the regulatory view.
Read articleSME IPO in India: The Complete Founder's Guide
Everything a promoter needs to know before listing on the SME platform - eligibility, SEBI requirements, costs, timeline and what your CA should actually be doing.
Read articleSME IPO Cost & Timeline in India: The Real Numbers
What an SME IPO actually costs - merchant banker fees, market-making, legal, registrar, exchange and listing expenses - and the real 8-14 month timeline from board memo to listing day. The line items promoters never see until it's too late.
Read articleIPO Grey Market Premium (GMP), Explained
What grey market premium really is, how the unofficial GMP market works, why it's a sentiment indicator and not a valuation, and how promoters and investors should (and shouldn't) read it ahead of an SME or mainboard listing.
Read articleChoosing an SME IPO Merchant Banker: A Founder's Checklist
The merchant banker (BRLM) is the single most important hire of your IPO. Track record, underwriting capacity, market-making, distribution, fees and the red flags - a CA's checklist for picking the right one for a BSE SME or NSE Emerge listing.
Read articleMigrating from BSE SME or NSE Emerge to the Main Board: A Promoter's Guide
Eligibility, the postal ballot test, the exchange process, timelines, costs and what changes after migration (full LODR, quarterly results, no market maker). A CA's view on when moving to the main board makes sense and when to stay on the SME platform.
Read articleMarket Making in SME IPOs, Explained
Why SEBI makes market making compulsory for SME listings, what the market maker must do (two-way quotes, inventory, the three-year minimum), who pays for it, how it affects post-listing liquidity and price, and what a promoter should negotiate before signing.
Read articlePromoter Contribution and Lock-in: SME and Main Board IPOs
Minimum promoter contribution, what counts and what does not, lock-in for promoters and pre-IPO shareholders, pledge of locked-in shares, and how to plan the cap table 12-18 months before filing so lock-in never surprises investors.
Read articleSME IPO Post-Listing Compliance: LODR Duties After Listing
What changes after your SME IPO lists: LODR duties, half-yearly results, Regulation 30 disclosures, insider trading rules and a compliance calendar to build.
Read articleSME IPO DRHP Checklist: Documents to Gather Before Filing
The SME IPO DRHP document checklist I use: corporate records, restated financials, tax reconciliations, licences, promoter details and objects of the issue.
Read articleSME IPO Eligibility and Rules After SEBI's 2025 Changes
What SEBI's 2025 SME IPO changes mean for promoters: the new EBITDA test, offer for sale and GCP caps, the promoter loan bar and the exchange criteria to check.
Read articleMainboard IPO Eligibility: SEBI ICDR Regulation 6 Explained
Mainboard IPO eligibility under SEBI ICDR explained: the Regulation 6(1) profit track, the 6(2) QIB route for loss-making firms, and the conditions all must meet.
Read articleAnchor Investors and the QIB Book in an Indian IPO
How anchor investors and the QIB book work in an Indian mainboard IPO: who qualifies, allocation rules, lock-in, pricing, and what issuers should plan for.
Read articleMainboard IPO Readiness: A 24-Month Finance and Governance Plan
A 24-month mainboard IPO readiness plan for finance and governance: CFO and CS hires, peer-reviewed audit, Ind AS, controls, board committees and lead managers.
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