IPO & Capital
Markets Advisory
Strategic advisory and transaction support for companies planning to access public and capital markets through IPOs, SME listings, preferential allotments, rights issues, and other capital raising mechanisms.
Our IPO & Capital Markets Practice
PSCA & Co.'s IPO & Capital Markets Advisory practice provides advisory and transaction support to companies planning to access the public capital markets. The practice covers the full lifecycle — from IPO readiness assessment and financial reporting alignment through DRHP preparation support, due diligence coordination, SEBI compliance, and post-listing governance.
The practice serves businesses planning mainboard IPOs on NSE and BSE as well as SME listings on NSE Emerge and BSE SME. We also assist companies undertaking preferential allotments, rights issues, and qualified institutional placements. Our team coordinates with merchant bankers, legal advisors, registrars, and regulatory authorities throughout the transaction.
Our advisory focuses particularly on the financial readiness dimension — Ind AS transition, restatement of historical financials, SEBI ICDR compliance, financial due diligence support, and building the financial and governance profile of the company ahead of listing.
Scope of Services
IPO Readiness Assessment
Evaluation of financial statements, governance structure, regulatory compliance, and listing eligibility. Gap identification and remediation roadmap for mainboard and SME IPO candidates — covering financial reporting, secretarial compliance, and SEBI disclosure requirements.
SME Listing Advisory
Advisory support for SME IPOs on NSE Emerge and BSE SME — eligibility assessment, DRHP financial preparation, due diligence coordination, merchant banker support, and SEBI filing assistance through to listing.
Financial Reporting Alignment
Ind AS transition support, restatement of historical financial statements in DRHP-compliant format, working capital normalisation, related party transaction review, and preparation of compliant financial information for inclusion in the offer document.
Due Diligence Support
Financial and accounting due diligence for IPO purposes — quality of earnings analysis, working capital assessment, contingent liabilities review, related party transaction scrutiny, and management accounts review for inclusion in the offer document.
SEBI & Regulatory Coordination
Support for SEBI observation letter responses, compliance with ICDR regulations, promoter lock-in requirements, pricing methodology documentation, and coordination with SEBI, NSE/BSE, depositories, and legal advisors through the regulatory approval process.
Listing Readiness & Post-Listing Compliance
Post-IPO compliance framework — quarterly financial results preparation, LODR compliances, audit committee reporting, related party disclosure framework, insider trading policy implementation, and an ongoing SEBI compliance calendar.
Our Advisory Approach
Readiness & Gap Analysis
Assess financial statements, governance structure, and regulatory compliance against IPO eligibility criteria. Identify gaps and agree a remediation plan and timeline with the management and board.
Documentation & Due Diligence
Prepare and review financial information for the offer document, conduct financial due diligence, and coordinate closely with merchant bankers, legal advisors, and the statutory auditor on DRHP financials and disclosures.
Regulatory Process
SEBI filing support, drafting responses to SEBI observation letters, compliance documentation, and coordination through the regulatory approval process — ensuring timelines and disclosure obligations are met.
Listing & Post-Listing
Support through the book-building process, allotment, and listing. Establish a post-listing compliance framework — including quarterly reporting, LODR obligations, board governance, and SEBI correspondence management.