Process of IPO

1. Draft Prospectus – SEBI’s observation letter
2. Fulfillment of Entry Norms*
3. Appointment of Underwriter – maximum commission 2.5%
4. Appointment of Banker – collecting agent & procurement of funds during issue
5. Brokers to the Issue – recognise member of the stock exchanges, maximum brokerage of 1.5%
6. Filling of Documents – with Registrar of Companies
7. Printing of Prospectus and Application Form – and dispatch to merchant bankers, underwriters and brokers
8. Listing the issue
9. Publication in Newspapers – abridged prospectus and the issue’s commencing and closing dates
10. Initiating Allotment Procedure – after minimum subscription
11. Underwriters Liability – if the issue is not fully subscribed, underwriter subscribe to the shortfall
12. Optimal listing - compulsory in the Regional stock Exchange and optionally at other stock exchanges