IPO Compliance and Readiness Advisory
An IPO is the end of a long compliance runway, not a single event. The years before listing are where a company either becomes IPO-ready or discovers, late and expensively, that its records, board processes and cap table are not. We help growing companies get genuinely IPO-ready — closing the secretarial gaps early, converting from private to public, and meeting the SEBI and Companies Act obligations a listing demands. Not sure where to start? Use the Annual Compliance Checker to assess your current standing.
What IPO readiness involves
Secretarial health check
Reviewing years of board minutes, filings, resolutions, related-party transactions and the cap table for the gaps a diligence process will find.
Conversion to a public company
The structural step from private limited to public limited, with the resolutions, Articles changes and ROC filings it needs.
Governance build-out
Board composition, committees and the processes a listed company is expected to run.
SEBI and LODR compliance
The listing-stage and post-listing obligations under the SEBI framework.
Due diligence support
Preparing the secretarial side of the data room for the merchant bankers and legal counsel.
SME IPO or mainboard
SEBI's framework sets out two distinct listing paths — the SME platform and the mainboard — with different eligibility thresholds, and the rules have tightened. The right path depends on your size, financials and timeline, and choosing it early shapes how you prepare. We work through that decision with founders before the runway starts.
SME Platform
Built for smaller companies with lower eligibility thresholds. SEBI has recently tightened norms on this route — early planning determines which path applies.
Mainboard
Designed for larger companies meeting higher size and financial criteria. The right path depends on your size, financials and timeline.
Who this is for
Series B and later companies with a listing on the horizon, founders weighing an SME IPO, and companies that need an honest read on how far they are from IPO-ready. Starting two to three years out is what makes the difference between a smooth process and a scramble.
The IPO readiness runway
Secretarial health check
Review board minutes, statutory filings, resolutions, related-party transactions, and the cap table. Close every gap a diligence process would surface.
Choose the listing path
Determine whether the SME platform or mainboard applies given your size, financials, and timeline. This decision shapes every subsequent step.
Build listed-company governance
Establish the board composition, committees, and ongoing board processes a public company is required to operate.
Convert from private to public
Execute the structural conversion — resolutions, Articles changes, and ROC filings — required before any listing can proceed.
Prepare the secretarial data room
Organise the secretarial side of due diligence for merchant bankers and legal counsel — so nothing surfaces late and expensively.
Frequently asked questions
How do I make my company IPO-ready?+
Start two to three years out with a secretarial health check, close the gaps in board records, filings and the cap table, build listed-company governance, and plan the conversion from private to public company. IPO readiness is a runway, not a final-year task.
What is the difference between an SME IPO and a mainboard IPO?+
They are two SEBI listing routes with different eligibility thresholds — the SME platform is built for smaller companies, the mainboard for larger ones. The size and financial criteria, and the recently tightened norms, which decide which path applies.
Does a company need to convert to a public company before an IPO?+
Yes. A company listing its shares must be a public company, so a private limited company converts to a public limited company as part of the IPO runway.
When should IPO preparation start?+
Ideally two to three years before the intended listing. The secretarial records, governance and cap table that diligence examines take that long to get genuinely clean.
Assess your IPO readiness
If a listing is on your roadmap, get in touch for an IPO-readiness review. We work through the decision with founders before the runway starts.
WhatsApp Sapna Book a ConsultationFurther reading
Annual Compliance Checker
Use this free tool to check your company's current compliance standing — the first step before any IPO runway begins.
Annual Compliance Checklist for Private Limited Companies (2026)
A comprehensive guide to annual compliance requirements under the Companies Act, 2013 — covering board meetings, AGM, ROC filings, and key deadlines.
The Ultimate Startup Compliance Checklist (2026-27)
Complete guide to ROC filings, tax deadlines, FEMA requirements, and board governance for Indian startups — from incorporation through growth stage.
Free compliance tools
Check your numbers instantly — MCA Penalty Calculator, Compliance Cost Estimator, ROC Deadline Tracker, Secretarial Audit Checker, Board Composition Checker.
Just incorporated? See our Startup & Post-Incorporation Compliance guide.