A practical order of work: get the company ready, appoint the right intermediaries, survive diligence, then run the issue.
Promoters often reverse the order: hire a banker first, then discover the books need two years of repair. Flip it. Fix the company, then run the IPO process.
Check eligibility against today’s norms. If profits, cash flow or track record are thin, listing talk is premature. Better to say that early than after paying half the professional table.
Related parties, tax and ROC issues, inventory and receivable quality, monthly MIS, board habits. This is the long stretch — and where our readiness program and governance & MIS work sit. Some companies also need Pre-IPO capital or shareholding clean-up before a public issue makes sense.
SEBI-registered merchant banker, peer-reviewed auditor, legal counsel, registrar. Interview bankers who have done SME deals recently, not only mainboard logos. Yaniva does not replace the banker; we try to make sure the first diligence meeting is not embarrassing.
Everything material goes into the draft offer document — business, risks, financials, objects of issue, litigation, promoters. Soft facts get found. Hard facts get disclosed. That is the job.
File with BSE SME or NSE Emerge, clear observations, open the issue, allot, list. Then the real work of being a listed company starts. For calendars, see SME IPO timeline. For money planning, read SME IPO cost in India. Diligence prep: due diligence checklist. If you want a partner for the readiness years, see SME IPO consultant India.
The issue machinery after you are ready can move in months. Becoming ready — clean years, governance, data room, objects of issue — often takes much longer. Quotes that skip readiness are selling hope, not a plan.
The merchant banker runs the issue process and owns coordination of the offer document. Your team still has to produce facts that survive diligence. If the data room is weak, the DRHP timeline slips no matter who drafts the Word file.
In practice you pick one SME platform. Dual SME listing is not the usual path. Choose based on eligibility fit and banker advice.
