SME IPO Consultation
SME IPO
Consultation.
List with Confidence.
End-to-end SME IPO advisory — from feasibility assessment and SEBI compliance to financial due diligence, valuation, issue management, and post-listing support on BSE SME & NSE Emerge platforms.
35+
Years of Practice
BSE & NSE
SME Platform Coverage
2
Office Locations
9+
IPO Service Areas
- IPO feasibility & SEBI compliance
- Financial due diligence & valuation
- Issue management & coordination
- Post-listing compliance support
What is SME IPO?
SME IPO (Small and Medium Enterprises Initial Public Offering) is a mechanism for small and medium enterprises to raise capital from public investors by listing their equity shares on dedicated SME stock exchange platforms in India — BSE SME Platform and NSE Emerge Platform.
SME IPOs are governed by SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 with specific provisions for SME issuers. The process involves regulatory approvals, merchant banker appointment, due diligence, offer document preparation, pricing, public issue, and stock exchange listing.
Eligibility Criteria
Max post-issue paid-up capital Rs. 25 Cr, minimum 3 years track record, net tangible assets of Rs. 3 Cr, and positive net worth in 2 of 3 preceding years.
BSE SME Platform
Launched March 2012. Rs. 2 lakh minimum trading lot, T+2 rolling settlement, and migration option to main board after 2 years of listing.
NSE Emerge Platform
Launched 2012. Rs. 2 lakh minimum investment lot, T+2 settlement basis, and a clear migration path to the main board.
Our Services
SME IPO Consultation
Services We Offer
End-to-end advisory from feasibility assessment to post-listing compliance — comprehensive SME IPO support.
01
IPO Feasibility Assessment
Evaluation of eligibility criteria compliance, assessment of operational and financial readiness, capital requirement analysis, valuation indication, and cost-benefit analysis of public listing.
Eligibility • Readiness • Valuation • Cost-Benefit
02
Pre-IPO Structuring & Compliance
Corporate structure review, related party transaction review, accounting policy alignment, historical financial statement review, and regulatory compliance gaps identification.
Structure • Related Parties • Accounting • Gap Analysis
03
Financial Due Diligence & Reporting
Historical financial performance analysis, revenue recognition review, asset and liability verification, related party examination, and financial statement preparation per applicable standards.
Performance • Revenue • Verification • Reporting
04
Business Valuation for SME IPO
Fair value determination by IBBI Registered Valuer using DCF, comparable company analysis, and other accepted methodologies. Comprehensive valuation report preparation.
DCF • Comparables • Fair Value • IBBI Registered
05
Tax Due Diligence & Advisory
Historical tax compliance review, direct tax positions and contingencies, indirect tax (GST) compliance assessment, and tax litigation and disputes analysis.
Direct Tax • GST • Contingencies • Litigation
06
SEBI & Stock Exchange Compliance
SEBI ICDR Regulations compliance, stock exchange listing agreement requirements, offer document preparation support, and disclosure requirement compliance.
SEBI ICDR • Listing Agreement • Offer Document • Disclosures
07
Merchant Banker Coordination
Information memorandum preparation, Draft Red Herring Prospectus (DRHP) inputs, and financial data compilation and verification for merchant banker coordination.
DRHP • Info Memorandum • Data Compilation • Verification
08
Issue Management Support
Document finalization support, compliance verification through the issue management phase, and listing day preparation assistance.
Finalization • Compliance • Listing Day • Coordination
09
Post-Listing Compliance
Quarterly and annual financial reporting, stock exchange disclosure compliance, corporate governance requirements, and SEBI LODR compliance for listed SME entities.
Quarterly Reporting • Disclosures • Governance • SEBI LODR
IPO Process
SME IPO Process & Timeline
PHASE 1
Pre-IPO Preparation
6–12 months: Feasibility, board approval, intermediary appointments, 3-year audited financials, due diligence & valuation.
PHASE 2
Documentation & Filing
2–3 months: DRHP preparation, BSE/NSE & SEBI filing, observations & responses.
PHASE 3
Marketing & Issue
1–2 months: Price band finalization, public issue, book building (3 working days).
PHASE 4
Listing
2–3 weeks: Basis of allotment finalization, stock exchange listing.
PHASE 5
Post-Listing
Ongoing: Compliance, reporting, corporate governance, SEBI LODR requirements.
Why SME IPO
Benefits &
Considerations
Key benefits and important considerations for SMEs planning a public listing.
Manufacturing
SME IPO advisory for manufacturing companies looking to raise capital and achieve public listing on SME platforms.
Technology & IT
End-to-end IPO consultation for technology companies, IT services firms, and SaaS businesses.
Healthcare & More
Healthcare, education, retail, real estate, professional services, logistics, and other sectors.
Professional Resources
Experienced IPO
Advisory Team
Our team includes Fellow Chartered Accountants (FCA), Certified Public Accountants (CPA – USA), IBBI Registered Valuers, and professionals with experience in audit, taxation, valuation, SEBI regulations, and IPO processes.
SEBI & ICDR Expertise
Deep knowledge of SEBI regulations, ICDR requirements, and stock exchange listing norms.
Registered Valuers
IBBI-registered valuers for independent business valuation and fair value determination.
Audit & Due Diligence
Extensive audit and due diligence experience for pre-IPO financial reporting.
Pan-India Service
SME IPO advisory delivered across India from Ahmedabad and Nadiad offices.
Common Questions
Frequently Asked Questions
QWhat is the maximum issue size for SME IPO?
There is no prescribed minimum issue size. The maximum post-issue paid-up capital is Rs. 25 crores.
QHow long does the SME IPO process take?
Typically 12–15 months from decision to listing, including pre-IPO preparation, documentation, filing, marketing, and listing phases.
QIs profitability mandatory for SME IPO?
Profitability is not mandatory. However, the company must have positive net worth in at least 2 out of 3 preceding years and minimum net tangible assets of Rs. 3 crores.
QIs merchant banker mandatory for SME IPO?
Yes, appointment of a SEBI-registered merchant banker (lead manager) is mandatory for SME IPO.
QWhat is the promoter lock-in period?
Minimum promoter contribution is locked in for 3 years from date of allotment. Specific lock-in requirements should be verified with current SEBI regulations.
QCan SME companies migrate to the main board?
Yes, SME companies can migrate to the main board after a minimum 2 years of listing, subject to fulfilling main board eligibility criteria and regulatory approvals.
QWhat are ongoing compliance requirements after listing?
Listed SMEs must comply with quarterly financial reporting, annual reports, corporate governance norms, stock exchange disclosures, and SEBI LODR requirements.
QWhat is a market maker in SME IPO?
Market makers provide liquidity in SME scrips by quoting buy and sell prices. At least one market maker is mandatory for SME listings as per stock exchange rules.
Beyond IPO
Related Professional Services
Comprehensive professional services to support your business before, during, and after listing.
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Audit & Assurance
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Business Valuation
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Direct Taxation
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Corporate & Regulatory
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Financial Advisory
Planning Your
SME IPO?
Get in touch to discuss your SME IPO readiness, eligibility, and listing requirements. We serve entities across India.