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Questions
Questions about SME IPO Readiness
Plain answers to common questions on this service, grouped by what you are trying to find out. Each answer starts with the direct reply.
Basics
- What is a draft offer document and what does it disclose?Understand the draft offer document filed before an IPO, the sections it contains and why every statement in it needs evidence behind it.
- What is a peer-reviewed auditor and does an SME IPO need one?Learn what a peer-reviewed auditor is, why the exchange and regulator expect one for IPO financials, and how to check your current auditor.
Eligibility & documents
- What can SME IPO proceeds legally be used for?Learn which uses of IPO money are generally allowed, which are restricted, and why the stated objects of the issue bind the company after listing.
- Can a loss-making company list on an SME platform?Understand why exchange norms usually look for a profit track record, what counts, and what a company with recent losses can realistically do.
- Who qualifies as a promoter and promoter group in an IPO?How securities rules identify promoters and the wider promoter group, including relatives and linked entities, and why the classification has consequences.
- Which accounting records and registers should be in order before filing?A checklist of accounting books, statutory registers and supporting files reviewers expect to see in working order before an IPO draft goes in.
Process
- How should I clean up financial statements before an IPO?A practical sequence for tidying accounts before a public issue, from reconciling tax returns to separating personal expenses and related-party dealings.
- How do I convert a private limited company into a public limited company?See the usual steps to turn a private limited company into a public one before a listing, including resolutions, charter changes and filings.
- How should the board be set up before an SME IPO?What a listed-ready board looks like, from independent directors and committees to key managerial roles, and how to build it without disrupting control.
- How is the issue price of an SME IPO decided?See who sets the share price in an SME public issue, the factors weighed, and how the reasoning is disclosed so investors can judge it.
- Do I need lender consent before launching an IPO?Check whether your loan documents require lender permission for an IPO, which clauses usually trigger it, and how to approach the request.
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