Ten steps from first meeting to first trade.
Every SME IPO moves through the same broad sequence. Timelines and specifics vary by company — your merchant banker will confirm what applies to you — but this is the shape of the journey.
01Assess your readinessTeam assembly
Your company's financial health, operations, market position and growth potential are evaluated. You assemble an IPO team including promoters, managers, investment bankers, auditors and legal advisors.
02Check eligibility criteria3 yrs · profit 2/3
Confirm your company meets SME IPO eligibility — typically at least 3 years of operations, profitability in 2 of the last 3 years, and a positive net worth.
03Hire a merchant bankerSEBI-registered
Appoint a SEBI-registered merchant banker to guide the process, from due diligence through pricing and regulatory compliance.
04File the draft prospectus (DRHP)Filed with exchange
Prepare and file a Draft Red Herring Prospectus with the exchange, setting out your company's details, financials and the IPO's objectives.
05Obtain exchange approvalReview & site visit
The exchange reviews the DRHP and conducts site visits. If everything is in order, it's approved — otherwise, revisions are requested.
06Market the IPORoadshows
The merchant banker promotes the IPO through roadshows, presentations and advertising to attract investors.
07File the final prospectusFiled with RoC
Once the DRHP is approved, the final Prospectus (RHP) is filed with the Registrar of Companies, including issue details, pricing and supporting documents.
08IPO subscription opensPublic subscription
The IPO opens for public subscription for a few days. Investors apply across different categories, subject to a minimum investment amount.
09Share allotmentTo Demat accounts
After the IPO closes, the Registrar allocates shares to investors based on subscription, and shares are credited to investors' Demat accounts.
10Get listedTrading begins
Your company is listed on an exchange such as BSE SME or NSE Emerge. Shares become publicly traded, and ongoing compliance begins.
Company owners — we can help you get listed.
Fifteen minutes to tell us about your company. No fee, no obligation, and you keep full control of what happens next.