CORPORATE FINANCE  ·  COMPANY LAW  ·  COMPLIANCE Delhi
Flagship practice — Capital Markets & Transactions

IPO readiness,
done issuer-side.

An SME IPO — on BSE SME or NSE Emerge — is won in the twelve to twenty-four months before the filing, not in the filing itself. We prepare the company — eligibility, restated books, governance, cap table, diligence room — and coordinate your merchant banker. We work for the company and its promoters, never for the issue, and we stay independent of your banker.

Start here — 2 minutes

The IPO Readiness Scorecard.

Twelve questions. Answer honestly — this is a mirror, not a test. Your score tells you whether you're close, what the gaps are, and how long the runway probably is.

Get your score.

Enter your details and your personalised readiness score — with what each gap means for your timeline — appears instantly. A partner can also walk you through it on a free 15-minute call.

We never share your details. One follow-up call, only if you want it.

Indicative only — a starting point for conversation, not a legal opinion on eligibility. Exchange rules change; final eligibility is tested against the rules in force when you file.

The roadmap

Twelve to twenty-four months.
Seven stages. One accountable team.

STAGE 01

Eligibility & scorecard

We test you against the exchange criteria — paid-up capital, profitability track record, net worth, leverage, demat holding — and map every gap red, amber, green. You get an honest go or no-go on the timeline, not a sales pitch.

Read the stage detail →
STAGE 02

Restatement — IPO-ready books

Three years of financials restated to an audit-and-diligence standard — related-party cleanups, revenue-recognition discipline, provisions that hold up, contingent liabilities disclosed. This is where most timelines are won or lost.

Read the stage detail →
STAGE 03

Governance setup

Board composition, audit and nomination-remuneration committees, independent directors, KMP appointments, and the policy stack a listed company needs — built before anyone asks for it.

Read the stage detail →
STAGE 04

Cap table & structuring

Capital structure, promoter holding and lock-in planning, ESOP pool sizing, pre-IPO placement strategy. Structured once, structured right — a messy cap table is the most expensive thing to fix late.

Read the stage detail →
STAGE 05

Diligence preparation

A data room that answers questions before they are asked — legal, financial, secretarial, tax. Bankers and investors notice the difference immediately, and diligence moves in weeks instead of months.

Read the stage detail →
STAGE 06

DRHP & banker coordination

We introduce the right SEBI-registered merchant banker for your size and sector, then own the calendar from your side of the table: DRHP drafting inputs, exchange queries, timelines.

Read the stage detail →
STAGE 07

Listing — and after

Issue execution support, then the part nobody talks about: your first year of listed-company compliance — quarterly filings, disclosures, board processes — handled.

Read the stage detail →
Our position, stated plainly

We don't replace your merchant banker. We prepare you for one.

A merchant banker runs the issue. That's their job, and they're good at it. Our job is everything before that conversation — and everything the banker assumes is already done.

Because we're independent of the issue, our advice has no conflict: if you're not ready, we'll tell you that, with a dated plan to get ready. A banker paid on listing can't always say that.

Talk to us first

Questions promoters ask us

Straight answers.

How long does IPO readiness actually take?

Twelve to twenty-four months from a standing start, depending on how much restatement and governance work your books need. Companies that start "a few months before filing" are the ones whose timelines slip by a year. The scorecard gives you an honest twelve, eighteen, or twenty-four month read.

What does the readiness diagnostic cost?

The scorecard above is free. The full diagnostic — a fixed-scope engagement ending in a dated, red/amber/green remediation plan — is quoted after one conversation, once we know your size and complexity. Phases are fixed-fee, so cost tracks visible progress, not open-ended hours.

Do you do the valuation for the IPO?

We do independent valuation work for transactions, ESOPs, and regulatory needs — defensible in a diligence room. The issue price itself is the merchant banker's domain; we coordinate with them and keep your side of the table honest.

SME platform or mainboard?

If your post-issue paid-up capital is ₹25 crore or less, the SME route — BSE SME or NSE Emerge — is your platform. Above that, it is the mainboard: a different game with different thresholds, and a different preparation.

We're profitable but our books are messy. Is that a problem?

It is the most common starting point we see — and exactly what Stage 02 exists for. Profitability gets you eligible; clean, restated books get you listed. Most restatement work starts with profitable companies whose books were never built for scrutiny.

IPO readiness

Know where you stand before the banker does.

Take the scorecard, then let's talk about the gaps — with a dated plan, not a sales pitch.

Request a consultation