Chapter 5: IPO & Primary Market
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Day 31: IPO Ka Process — DRHP se Listing Tak
Dulhan taiyaar hone mein time lagta hai!
2 min read
📖 Ramesh Ka IPO Journey
Ramesh ko pata chala IPO laana koi ek din ka kaam nahi — pura 6-12 mahine ka process hai! Bankers, lawyers, auditors, SEBI — sab se deal karna padta hai.
"Yaar, itna complicated kyun hai?" Ramesh ne pucha.
CA bola: "Bhai, public ka paisa hai — SEBI ensure karna chahti hai sab honest ho. Isliye itne steps hain!" 📋
Ramesh ko pata chala IPO laana koi ek din ka kaam nahi — pura 6-12 mahine ka process hai! Bankers, lawyers, auditors, SEBI — sab se deal karna padta hai.
"Yaar, itna complicated kyun hai?" Ramesh ne pucha.
CA bola: "Bhai, public ka paisa hai — SEBI ensure karna chahti hai sab honest ho. Isliye itne steps hain!" 📋
IPO Process — Step by Step
1
Merchant Banker Hire Karo
Kotak, Axis, ICICI — bade banks IPO manage karte hain. Woh valuation, pricing, documentation sab handle karte hain.
Kotak, Axis, ICICI — bade banks IPO manage karte hain. Woh valuation, pricing, documentation sab handle karte hain.
2
DRHP File Karo SEBI Ko
Draft Red Herring Prospectus — company ka poora disclosure document. Financials, risks, business model sab kuch transparent!
Draft Red Herring Prospectus — company ka poora disclosure document. Financials, risks, business model sab kuch transparent!
3
SEBI Review (30-75 days)
SEBI document padhti hai, questions puchhti hai, approval deti hai ya corrections maangti hai.
SEBI document padhti hai, questions puchhti hai, approval deti hai ya corrections maangti hai.
4
Price Band Fix Karo
₹420-₹440 jaise range decide hoti hai. Lower price = floor, upper price = cap. Investors band ke andar bid lagate hain.
₹420-₹440 jaise range decide hoti hai. Lower price = floor, upper price = cap. Investors band ke andar bid lagate hain.
5
Road Show — Marketing!
CEO/CFO bade institutions (FII, mutual funds, banks) ke paas jaate hain, company ka pitch dete hain. Mumbai, Delhi, London, Singapore!
CEO/CFO bade institutions (FII, mutual funds, banks) ke paas jaate hain, company ka pitch dete hain. Mumbai, Delhi, London, Singapore!
6
Subscription Window (3 days)
Public apply karta hai! Zerodha, Groww, bank accounts se. Ek lot minimum apply karna hota hai.
Public apply karta hai! Zerodha, Groww, bank accounts se. Ek lot minimum apply karna hota hai.
7
Allotment & Listing!
Lottery system se shares allot hote hain agar oversubscribed hai. Phir exchange pe listing! Opening price = listing gain ya loss!
Lottery system se shares allot hote hain agar oversubscribed hai. Phir exchange pe listing! Opening price = listing gain ya loss!
Subscription Types
| Category | Quota | Who Applies |
|---|---|---|
| QIB (Qualified Institutional Buyers) | 50% | Mutual funds, insurance companies, FIIs |
| NII / HNI (Non-Institutional) | 15% | Rich individuals applying ₹2 lakh+ |
| Retail Individual | 35% | Aap aur main — upto ₹2 lakh! |
| Employee Quota | Varies | Company ke employees — usually discount pe! |
🎯 Takeaway:
IPO process = 6-12 months ka drama. DRHP = company ka "bio-data" jo SEBI ko dena hota hai. Retail investors = 35% quota mein hain. Kal — IPO mein apply kaise karein — UPI block amount se allotment tak!
IPO process = 6-12 months ka drama. DRHP = company ka "bio-data" jo SEBI ko dena hota hai. Retail investors = 35% quota mein hain. Kal — IPO mein apply kaise karein — UPI block amount se allotment tak!