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Promoter Holding Cleanup
Promoter list finalisation, lock-in eligibility under Reg 16, indirect holdings, pledges, family arrangements, declarations.
The cleanest IPOs are not the ones with the best banker. They are the ones whose issuers spent eighteen months becoming public-company ready before the DRHP was drafted. We run that programme.
Each workstream is owned by a partner. None of them moves without the others. The DRHP is the output of all six — not the start of any of them.
Promoter list finalisation, lock-in eligibility under Reg 16, indirect holdings, pledges, family arrangements, declarations.
Three-year RPT audit, arm’s-length restatement, audit-committee approvals, board ratification, public-disclosure scripting.
SEBI SBEB alignment, scheme amendment, grant reconciliation, accounting realignment, disclosure schedule.
AOC-4, MGT-7, charges, registers, secretarial standards. Audit-trail compliance from inception of the company.
Wind-down of redundant entities, mergers under Sec 233, LLP conversions, cross-holdings, related-party simplification.
Schedule VI structure, risk factor scripting, MD&A drafting, capital structure history, litigation and IPO objects.
The earlier the diagnostic, the smaller the cleanup. The smaller the cleanup, the faster the DRHP.
Six-domain pre-IPO health check. Gap analysis. Runway proposed.
Promoter list, lock-in eligibility, pledges, indirect holdings.
Group simplification, RPT audit, ESOP under SBEB, RoC catch-up.
First-draft DRHP under Schedule VI. External mock review.
BRLM appointed. Valuation indication. Marketing plan. Anchors mapped.
Final DRHP filed. Observations managed. RHP prepared.
SEBI does not read the DRHP in isolation. It reads it next to your audited financials, your RoC filings, your RPT register, your promoter declarations, your ESOP scheme, your group cap-table and your litigation list. The discipline of a pre-IPO programme is making sure every one of those documents tells the same story — in the same words.
Interactive · IPO Readiness Index
Answer honestly. We score the company against the six workstreams every SEBI-eligible issuer has to satisfy.
Short, direct, on the record.
For an issuer targeting SEBI ICDR eligibility, the cleanest window is 18–36 months before the proposed DRHP filing. The first 6 months are diagnostic and architecture. The next 12–24 are execution — group simplification, RPT cleanup, ESOP regularisation, RoC catch-up. The last 6 are DRHP and banker readiness.
Promoter holding and lock-in eligibility, related-party transactions audit, ESOP rationalisation under SEBI SBEB, RoC and statutory filings catch-up, group structure simplification, and disclosure architecture across the DRHP draft. Every issuer that runs all six in parallel files faster and answers fewer SEBI observations.
SEBI ICDR Regulation 16 requires 20% of post-issue paid-up capital held by promoters to be locked-in for 18 months from the date of allotment (with relaxations for QIB-led issues), and the balance of promoter holding for 6 months. Mis-classification of promoter shares or failure to recognise indirect holdings extends the lock-in and constrains post-IPO secondary sales by founders.
The DRHP is read by SEBI in conjunction with the audited financials, the RPT register, the promoter list, the RoC filings and the ESOP scheme. We architect the DRHP so the same fact appears identically across every source document, and so material risk factors are pre-disclosed before SEBI raises them as observations.
PE investors typically hold pre-IPO secondaries, anti-dilution and ratchet rights, and exit obligations under the SHA. The SHA has to be converted or terminated before listing; some rights survive as post-IPO arrangements. The sequencing of conversion vs ratchet adjustment is a deal in itself — we have run it on both sides.
Run the same diligence on yourself that the underwriter will run on you. The DRHP that signs itself.
Convert SHA rights into post-IPO arrangements; sequence ratchet, drag and lock-in adjustments.
From DRHP to listing day, with SEBI observations and underwriter diligence already pre-empted.
The valuation you achieve at IPO is largely set by what you cleaned up eighteen months before.