Upcoming DRHP Filed IPOs with SEBI | Latest IPO Approvals & Filings

Understanding SEBI DRHP Filed IPOs

What is a DRHP?

DRHP (Draft Red Herring Prospectus) is the initial document filed by a company with SEBI and stock exchanges when planning an IPO. It contains comprehensive details about the company's business, financials, risk factors, and IPO structure.

SEBI's Role in IPO Approval

SEBI (Securities and Exchange Board of India) meticulously reviews each DRHP to ensure:

Complete disclosure of material information
Accuracy of financial statements and projections
Appropriate risk factor identification
Compliance with SEBI regulations and guidelines
Protection of investor interests

Key Information in DRHP

Company overview and business model
Financial statements (3-5 years historical data)
Risk factors specific to the business
Objects of the issue (use of proceeds)
Management and promoter details
IPO details (size, price band, lot size)

IPO Process Timeline

Step 1DRHP Filing with SEBI & Exchanges
Step 2SEBI Review & Observations (30-90 days)
Step 3RHP (Red Herring Prospectus) Filing
Step 4IPO Launch & Price Band Announcement
Step 5Listing on Stock Exchanges

SEBI Approval Stages

• Initial Scrutiny: Completeness check of application
• Detailed Review: In-depth analysis of disclosures
• Observations Letter: Queries and clarifications
• Company Responses: Addressing SEBI concerns
• Final Approval: Clearance to launch IPO

Importance for Investors

DRHP provides crucial information for making informed investment decisions:

Understand company fundamentals and growth prospects
Evaluate risk factors before investing
Assess management credibility and track record
Analyze valuation and pricing justification
Make informed IPO application decisions

Understanding IPO Status Terms

Approval

SEBI has approved the IPO application; company can proceed with public issue

Filed

DRHP submitted to regulatory authorities; awaiting review and observations

Confidential

Filed under confidential review process; limited public disclosure

Withdrawn

Company has withdrawn the IPO application; may refile later

Frequently Asked Questions

How long does SEBI take to approve a DRHP?

SEBI typically takes 30-90 days to review and provide observations on a DRHP, depending on the complexity of the issue and completeness of disclosures.

Can a company revise its DRHP?

Yes, companies often file updated DRHP documents incorporating SEBI's observations and changes in business conditions or financials.

What happens after SEBI approval?

After SEBI approval, the company files RHP (Red Herring Prospectus) and can proceed with the IPO launch within 12 months of approval.