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Capital Markets & Transactions

SME IPO Readiness — Issuer-Side Advisory

An SME IPO is won in the 12 to 24 months before the filing, not in the filing itself. We prepare the company — eligibility against SEBI's SME platform criteria, three years of restated financials, board and governance upgrades, cap-table cleanup, and a diligence room that survives a merchant banker's hardest questions. We work for the company and its promoters, never for the issue, and we stay independent of your merchant banker — so the advice stays yours.

12–24months of structured preparation before filing
3 yrsof financials restated to IPO standard
BSE SMEand NSE Emerge — the SME platforms
Issuer-sideindependent of your merchant banker

When this matters.

The profitable company with messy books

You clear the profit thresholds but your books were never built for scrutiny — related-party tangles, revenue recognition gaps, provisions that won't hold. This is the most common starting point, and exactly what the restatement phase fixes.

The company 18 months from filing

You have a timeline and a banker in mind, but no dated preparation plan. We build the 12–24 month roadmap — what gets fixed, in what order, by when — and run it.

The promoter who wants a second opinion

Your banker says you're ready. We verify independently — eligibility, gaps, and the honest go/no-go — because once the DRHP is filed, surprises are expensive.

What we do.

01

Eligibility & gap assessment

Tested against SEBI's SME platform criteria — paid-up capital, profitability track record, net worth, leverage, demat holding. Every gap mapped red, amber, green, with an honest go or no-go on the timeline.

02

12–24 month readiness roadmap

A dated plan: restatement, governance, cap-table, and diligence phases sequenced so each unlocks the next. You always know what happens when, and what it costs.

03

Financial restatement

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

04

Governance upgrades

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.

05

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.

06

DRHP coordination & banker management

We prepare the offer-document inputs and coordinate your SEBI-registered merchant banker, legal counsel, and auditors from your side of the table — owning the calendar through filing.

The regulatory frame.

The law that governs this work.

  • SEBI (ICDR) Regulations — SME platform eligibility (Reg 229)
  • Companies Act, 2013 — prospectus and allotment provisions
  • SEBI (LODR) Regulations — post-listing compliance framework
  • Exchange-specific norms — BSE SME / NSE Emerge listing criteria

How we work.

STEP 01

Diagnostic

The 12-question readiness scorecard plus a deep-dive review. You get a written gap list and an honest timeline — twelve, eighteen, or twenty-four months.

STEP 02

Remediation

Restatement, governance, and cap-table work executed in sequence. Fixed-fee phases; you approve each before the next begins.

STEP 03

Diligence room

Legal, financial, secretarial, and tax documentation assembled and verified — answering questions before bankers ask them.

STEP 04

Issue & beyond

DRHP coordination through listing, then your first year of listed-company compliance — quarterly filings, disclosures, board processes — handled.

Questions we hear.

How long does IPO readiness actually take?

Twelve to twenty-four months from a standing start, depending on restatement and governance gaps. 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.

Do you replace our merchant banker?

No. We prepare the company and coordinate the issue; your merchant banker leads the offer itself. That independence is the point — our advice stays yours, and we keep your side of the table honest.

What does the readiness diagnostic cost?

The scorecard is free. The full diagnostic — a fixed-scope engagement ending in a dated remediation plan — is quoted after one conversation. Phases are fixed-fee, so cost tracks visible progress, not open-ended hours.

SME platform or mainboard?

Post-issue paid-up capital of ₹25 crore or less means the SME route — BSE SME or NSE Emerge. Above that, the mainboard: different thresholds, different preparation.

Talk to us

Start with a conversation.

Tell us where your company is headed. A partner — not a sales rep — will respond.

Request a consultation