Main Board IPO Advisory
We provide promoter-side advisory for Main Board IPOs on NSE and BSE — helping mid and large companies achieve listing readiness, high-quality disclosures and successful book-built or fixed-price issues.
Overview
A Main Board IPO under SEBI ICDR Regulations is a rigorous process involving profitability track record, net tangible asset, minimum public shareholding and detailed disclosure requirements.
Our role is to prepare the company for institutional and public scrutiny — from Ind AS restated financials and corporate governance to DRHP drafting, SEBI clearance and coordinated book-building.
Our Main Board IPO Services
Eligibility & Readiness
- •SEBI ICDR profitability and net-worth track record assessment
- •Alternate route evaluation (QIB / profitability route)
- •Corporate governance framework preparation
- •Board, committees and independent director structuring
Financial Preparation
- •Ind AS restatement and consolidated financials
- •Restated financial statements as per SEBI ICDR
- •Tax and regulatory diligence support
DRHP & Filing
- •DRHP drafting support and disclosure review
- •Coordination with BRLMs, legal counsel, auditors, RTA
- •SEBI, NSE and BSE observations and responses
Book-Building & Listing
- •Anchor investor and QIB engagement support
- •Roadshow, price band and issue opening coordination
- •Basis of allotment, listing day and post-listing compliance
How we work
- 01
Diagnostic
ICDR eligibility, corporate structure and governance assessment.
- 02
Preparation
Ind AS restatement, restructuring and disclosure preparation.
- 03
DRHP
Drafting, due diligence, SEBI filing and observation resolution.
- 04
Marketing
Anchor / QIB engagement, roadshows and price discovery.
- 05
Listing
Issue, allotment, listing and LODR compliance.
Why clients choose us
- ✓Deep understanding of SEBI ICDR, LODR and issue-management framework
- ✓Cross-disciplinary team spanning finance, tax, law and secretarial
- ✓Long-standing relationships with leading BRLMs and legal counsel
- ✓Focus on high-quality disclosures that build institutional confidence
Challenges we help you navigate
Fragmented advisors, uneven quality
Most main board ipo mandates cross tax, legal, finance and secretarial workstreams. Handing them to separate advisors creates gaps in strategy, timelines and accountability.
Regulatory complexity and shifting law
The regulatory landscape around main board ipo has moved quickly in the last few years. Precedents, circulars and enforcement priorities change how a matter should be structured and defended.
Commercial trade-offs, not just paperwork
Every main board ipo decision affects cash, tax, timelines and stakeholder trust. Documentation alone is not enough — the underlying commercial call has to be right.
Execution capacity under time pressure
Boards and promoters usually engage on a deadline — a filing, a board meeting, a diligence, a hearing. Slippage is expensive and often irreversible.
Is this right for you?
We work best with organisations that recognise themselves in the profiles below. If any of these describe your situation, we should talk.
- ✓Promoters and boards evaluating a main board ipo decision for the first time
- ✓Growth and mid-market companies that need integrated main board ipo advice under one roof
- ✓Family-owned businesses balancing commercial goals with governance and succession considerations
- ✓Investors, lenders and other stakeholders assessing a counterparty on main board ipo matters
- ✓Listed and IPO-bound companies needing disciplined main board ipo execution alongside disclosure obligations
What you receive
- Diagnostic memo on the main board ipo objective, options and key risks
- Detailed workplan with responsibilities, timelines and dependencies
- Structured documentation package — filings, submissions, contracts or schemes as applicable
- Board / promoter briefing notes at each decision point
- Coordination log with intermediaries, regulators or counterparties
- Handover file with post-engagement compliance and monitoring calendar
How the engagement runs
Kick-off & diagnostic
Week 1–2
Fact-gathering, exposure assessment, option evaluation and workplan sign-off with the promoter or board.
Structuring & drafting
Week 3–6
Design of the preferred structure, drafting of core documents, tax and regulatory positioning, internal review cycles.
Execution & filings
Week 6–12
Filings, negotiations, hearings or coordination with counterparties, regulators and intermediaries.
Closure & handover
Post go-live
Post-engagement compliance calendar, monitoring framework and knowledge transfer to internal teams.
Frequently asked questions
What are the key eligibility criteria for a Main Board IPO?
Broadly: net tangible assets of ₹3 crore, average operating profit of ₹15 crore in three of the last five years, net worth of ₹1 crore in each of the last three years, and post-issue paid-up capital of at least ₹10 crore — subject to SEBI ICDR updates.
How long does a Main Board IPO take?
Typically 8–14 months from mandate to listing, depending on financial preparation, restructuring, DRHP quality and SEBI response time.
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