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Vraj ChanganiIPO Advisor · Startup Consultant
7 articles

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.

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23 Apr 202614 min read

Pre-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.

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26 Apr 202611 min read

BSE 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.

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24 Apr 202615 min read

DRHP 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.

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10 Apr 202612 min read

SME 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.

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29 Apr 202613 min read

SME 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.

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28 Apr 202611 min read

IPO 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.

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27 Apr 202612 min read

Choosing 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.

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