Capital Markets / IPO
Driven by commitment to excellence, we leverage institutional-grade expertise and deep insights to navigate complex public markets with precision
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50
%
Success
Rate
6-
Months
TAT
(Prep to market)
+
Team Strength
+
Sectors Served
50
%
Success Rate
6-
Months
TAT (Prep to market)
0
+
Sectors Served
+
Team Strength
From listing to raising funds on BSE and NSE, we guide companies at every stage of public market journey.
With 25 years of experience, our Equity Capital Markets team guides companies through every stage of the IPO journey. From pre-IPO funding and strategy to mainboard and SME platform listings on BSE and NSE, we offer end-to-end support across the full listing cycle. Our deep market insights and hands-on advisory help companies navigate capital market complexities and achieve fundraising goals with confidence.
Service Areas Within Capital Markets / IPO
IPO Execution Support
We offer end-to-end execution support, including collateral preparation, appointment of intermediaries, due diligence support, and assistance in filings and listing.
Pre-IPO Funding
We identify and engage family offices, institutions and anchor investors, ensuring strong, credible backing before IPO hits the market.
Valuation Discovery
Our services include comprehensive valuation discovery process through internal analysis, and feedback from the investment community to let clients obtain the best possible value through the listing process.
Due Diligence Support
We facilitate business with its financial, legal, and tax due diligence, from setting up a virtual data room and responding to queries to intermediaries like merchant bankers and lawyers.
Group Restructuring
We assist in restructuring groups to optimize the structure in line with the regulatory framework in India, enabling the promoters to maximize overall group value.
Legal and Secretarial Compliance
Our team offers end-to-end support in pre and post listing compliances as prescribed under SEBI regulations, Companies Act, 2013 and other relevant regulations in India.
Ascentium Insights
Frequently Asked Questions
How long does the IPO process typically take in India?
Timelines can differ based on the exchange. An SME IPO typically takes 6–8 months from preparation to listing, while a Mainboard IPO requires 10–12 months, covering DRHP drafting, SEBI filing, observations, roadshows, and book-building. Company readiness and regulatory queries can impact both.
What is the difference between mainboard IPOs and SME IPOs?
Mainboard IPOs are for large, established companies listing on NSE/BSE with a recommended minimum issue size of ₹150 Cr. They attract mutual funds, AIFs, and a wide retail base, which require both SEBI and stock exchange approval, and take 10–12 months.
SME IPOs are designed for smaller companies listing on NSE Emerge or BSE SME, with issue sizes of ₹25–100 Cr. They attract family offices, AIFs, and Ultra HNIs, require only stock exchange approval, and take 6–8 months.
At what stage should a company engage an IPO advisory?
12–18 months before the target listing date. Early engagement allows sufficient time for group restructuring, financial cleanup, due diligence preparation, valuation discovery, and appointing the right intermediaries, all of which directly impact IPO success and pricing.
How is pre-IPO funding supported?
We leverage our network of family offices, institutional investors, and alternative funds to facilitate pre-IPO placements. Our experts structure the engagement, coordinate due diligence, and support negotiations, ensuring capital is raised at a valuation that aligns with IPO ambitions.
What is the valuation discovery and why does it matter?
Valuation discovery is an independent assessment of company’s worth before merchant bankers are mandated. Using peer benchmarking, internal analysis, and investor feedback, it gives promoters a realistic, conflict-free valuation range to negotiate IPO pricing from a position of knowledge.
What are the eligibility criteria for a mainboard IPO?
SEBI offers two routes for Mainboard IPO eligibility:
Profitability Route
- Net tangible assets of at least ₹3 Cr in each of the preceding 3 years
- Average operating profit of at least ₹15 Cr over the preceding 3 years
- Net worth of at least ₹1 Cr in each of the preceding 3 years
QIB Route
- IPO through book-building process only
At least 75% of the net offer allocated to QIBs - For general guidance only. Subject to SEBI (ICDR) Regulations in force at the time of filing
What are the eligibility criteria for SME IPO?
SEBI and the respective stock exchanges prescribe the following criteria:
- Company incorporated under the Companies Act, 1956 or 2013
- Post-issue paid-up capital must not exceed ₹25 Cr
- Net tangible assets of at least ₹1.5 Cr as per latest audited financials
- Net worth of at least ₹1 Cr in each of the preceding 2 years
- Distributable profits in at least 2 out of the last 3 financial years or net worth of at least ₹3 Cr
- No winding-up petition, regulatory action, or suspension by SEBI in the preceding 3 years
- Mandatory market making for a minimum of 3 years post-listing
For general guidance only. Subject to SEBI (ICDR) Regulations and BSE SME / NSE Emerge listing requirements in force at the time of filing.
What is the difference between a Fixed Price Issue and Book Building?
Fixed Price Issue sets a specific price for the shares before the IPO opens. Investors know the exact price they will pay per share, and shares are allocated at this fixed price. Book Building involves setting a price range for the shares. Investors submit bids within this range, and the final price is determined based on demand.
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