PROCEDURE OF IPO

Central Listing Authority

A department of SEBI

Application to SEBI (CLA) for LPTL

Letter Precedent To Listing
Issued separately for each
Stock
Exchange
where
securities are desired to be
listed.

Maximum 30
days.

SEBI may give LPTL for every stock

exchange where shares are intended to
be listed.

Separate application to each of the

stock exchanges for in-principle
approval
Maximum 30
days.

Appointment of

Stock Exchanges may give in-principle

approval.

MERCHANT BANKER

Drafting of Prospectus by Merchant

Banker
in
consultation
with
Compliance
Officer
i.e.
the
Company Secretary of the Company.

Send Draft Prospectus to SEBI.

Maximum 30
days.

Opening of Escrow Account.

Simultaneously file a copy of Draft Prospectus with:

All Stock Exchanges where

shares are desired to be listed.

SEBI may suggest modifications.

No Communication from SEBI is
deemed as APPROVAL.

Members of Public on demand

Company SHALL carry

modifications suggested.

out

all

Public may suggest any

Modification.

Maximum 21
days.

Company
May
or
May
Not
incorporate any suggestion. If either of
them is not incorporated, the
Company Shall file reasons for not
incorporating.

Printing and Signing of Prospectus

File Prospectus with RoC.

Maximum 90
days.
Minimum 4
days.

Opening of Issue.
Minimum 3
days.
Maximum 10
days.

Closing of Issue.

Maximum 10
WEEKS.

Maximum 30
days.

Issue
of
Allotment

Letter

of

OR

Issue ABRIDGED PROSPECTUS

to public.

No communication from Stock

Exchange is deemed as REFUSAL.

Obtain LISTING PERMISSION

from all the Stock Exchange from
which in-principle approval had
been obtained. If even one Stock
Exchange refuses permission, the
entire issue fails and the money has
to be refunded to investors.

Issue of Letter of Regret

and Refund Order.

Obtain TRADING PERMISSION

from concerned stock exchanges.

As soon as
possible.