{"id":11296,"date":"2025-09-08T12:45:16","date_gmt":"2025-09-08T07:15:16","guid":{"rendered":"https://www.5paisa.com/finschool/?post_type=markets\u0026#038;p=11296"},"modified":"2025-09-08T18:38:56","modified_gmt":"2025-09-08T13:08:56","slug":"ipo-basics","status":"publish","type":"markets","link":"https://www.5paisa.com/finschool/course/stock-market-basics-course/ipo-basics/","title":{"rendered":"Learn Basics of IPO From Stock Market Basics Course"},"content":{"rendered":"\u003cdiv data-elementor-type=\u0022wp-post\u0022 data-elementor-id=\u002211296\u0022 class=\u0022elementor elementor-11296\u0022\u003e\u003csection class=\u0022elementor-section elementor-top-section elementor-element elementor-element-23ba90b elementor-section-full_width tab_container elementor-section-height-default elementor-section-height-default\u0022 data-id=\u002223ba90b\u0022 data-element_type=\u0022section\u0022\u003e\u003cdiv class=\u0022elementor-container elementor-column-gap-default\u0022\u003e\u003cdiv 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src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/What-is-Initial-Public-Offering.png\u0022 alt=\u0022What is An Initial Public Offering\u0022 width=\u0022978\u0022 height=\u0022629\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/What-is-Initial-Public-Offering.png 978w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-Initial-Public-Offering-300x193.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-Initial-Public-Offering-768x494.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-Initial-Public-Offering-50x32.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-Initial-Public-Offering-100x64.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-Initial-Public-Offering-150x96.png 150w\u0022 sizes=\u0022(max-width: 978px) 100vw, 978px\u0022 /\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eनीरव: मैं सुनता रहता हूं कि IPO एक डील है. क्या उन्हें इतना विशेष बनाता है?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eवेदांतः जब कोई निजी कंपनी समय के लिए जनता को शेयर बेचती है जिसे IPO कहा जाता है. ऐसा है कि कंपनी उन लोगों के लिए अपना दरवाजा खोल रही है जो निवेश करना चाहते हैं.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eनीरव: तो कंपनी किसी समूह से सार्वजनिक बाजार में जा रही है?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eवेदांत: ठीक. यह कंपनी को पैसे को अधिक अच्छी तरह से जानने में मदद करता है और जल्दी इन्वेस्ट करने वाले लोगों को अपना पैसा वापस पाने का मौका देता है इसका मतलब यह भी है कि कंपनी को अधिक नियमों का पालन करना होगा और अधिक पारदर्शी होना होगा.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eनीरव: यह एक ऐसा निर्णय है जो कंपनी के भविष्य को बदल सकता है.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eवेदांत: यह है. आइए देखते हैं कि कंपनियां सार्वजनिक होने का फैसला क्यों करती हैं कि IPO प्रोसेस कैसे काम करती है और निवेशकों को क्या सोचना चाहिए. उदाहरण के लिए कल्पना करें कि क्या मीरास चॉकलेट बिज़नेस ने सार्वजनिक होने का फैसला किया\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003eइसलिए मीरा अपने चॉकलेट बिज़नेस को खुद फंडिंग कर रही है, लेकिन इसे बड़ा बनाने के लिए. जैसे स्टोर खोलना या ऑनलाइन बेचना. उसे पैसे चाहिए. पैसे उधार लेने के बदले वह अपने बिज़नेस के छोटे-छोटे हिस्सों को अपने दोस्तों और पड़ोसियों को बेच सकती है. यह सार्वजनिक होने के समान है: शेयर बेचकर पैसे प्राप्त करना और बढ़ने में सक्षम होना. यह IPO का आइडिया है. बड़े और अधिक विश्वसनीय होने के लिए एक निजी बिज़नेस को सार्वजनिक बनाना.\u003c/p\u003e\u003cp\u003eIPO यानी इनिशियल पब्लिक ऑफरिंग का मतलब है कि जब कोई कंपनी अपने शेयर जनता को बेचती है तो उसे स्टॉक एक्सचेंज में सूचीबद्ध कराना होता है.\u003c/p\u003e\u003ch3\u003e\u003cstrong\u003e\u003cb\u003eIPO क्या है?\u003c/b\u003e\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003eIPO का अर्थ होता है, जब कोई कंपनी अपने शेयरों को स्टॉक एक्सचेंज पर बेचती है. यह कंपनी को कुछ लोगों के स्वामित्व से बदल देता है. जैसे संस्थापक और शुरुआती निवेशक. जनता के स्वामित्व में होना, जहां कोई भी कंपनी का एक हिस्सा खरीद सकता है.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eनीरव: आपने समझाया कि IPO बहुत अच्छा है.. अब मैं जानना चाहता हूं कि कंपनी सार्वजनिक क्यों होने का निर्णय लेती है.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eवेदांत: सार्वजनिक होने से कंपनियों को उधार लिए बिना बहुत सारा पैसा प्राप्त करने में मदद मिलती है. इस पैसे का उपयोग कंपनी को बड़ी तकनीक में सुधार करने या क़र्ज़ का भुगतान करने के लिए किया जा सकता है.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003ch3\u003e\u003cstrong\u003e\u003cb\u003eकंपनियां सार्वजनिक क्यों होती हैं?\u003c/b\u003e\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003eकंपनियां रणनीतिक कारणों से सार्वजनिक हो जाती हैं. हालांकि यह चुनौतियों को लेकर आता है, लेकिन यह कंपनी को बहुत तेज़ी से बढ़ने में मदद कर सकता है.\u003c/p\u003e\u003cp\u003eतो मान लें कि मीरा का होममेड चॉकलेट बिज़नेस वर्षों से अच्छा कर रहा है. उनके वफादार कस्टमर्स ने एक छोटी टीम को नियुक्त किया है और ऑनलाइन बिक्री भी शुरू कर दी है.. अब वह और भी करना चाहती है. सभी स्टोर खोलें, पूरे भारत में नई मशीनें खरीदें और नए प्रोडक्ट बनाएं.\u003c/p\u003e\u003cp\u003e50 करोड़ रुपये पाने के लिए वह सार्वजनिक होने और पैसे उधार लेने वाले निवेशकों को शेयर बेचने का निर्णय लेती है. यह उसे बिना भुगतान किए अपनी ज़रूरत के पैसे देता है.\u003c/p\u003e\u003cp\u003eउसका भाई, जिसने अपने बिज़नेस में जल्दी निवेश किया, IPO का उपयोग अपने कुछ शेयर बेचने और घर खरीदने के लिए करता है. इससे पता चलता है कि जिन लोगों के पास पहले से ही शेयर हैं, उन्हें अपना पैसा वापस पाने में IPO कैसे मदद कर सकते हैं. कंपनी होने के कारण मीरास ब्रांड अधिक विश्वसनीय हो जाता है. अधिक लोग अपने बिज़नेस के बारे में जानते हैं और आपूर्तिकर्ता उनका अधिक विश्वास करते हैं, जिससे उन्हें अपने चॉकलेट को उच्च गुणवत्ता वाले प्रोडक्ट के रूप में बेचने में मदद मिलती है.\u003c/p\u003e\u003cp\u003eएक कंपनी के विश्लेषक के रूप में उसका बिज़नेस कितनी अच्छी तरह से कर रहा है, यह समझने में मदद करता है कि उसके बिज़नेस की कीमत कितनी है. यह तब उपयोगी होता है जब वह कंपनियों के साथ काम करना चाहती है या नए लोगों को नियुक्त करना चाहती है. एक साल बाद वह दक्षिण-पूर्व एशिया में अपने विस्तार के लिए शेयर बेचने का निर्णय लेती है, इस तथ्य का उपयोग करके कि उनकी कंपनी पहले से ही सार्वजनिक है, ताकि अधिक तेज़ी से पैसा मिल सके.\u003c/p\u003e\u003cp\u003eसार्वजनिक होने से कंपनी को अधिक जिम्मेदार बनने में भी मदद मिलती है. मीरा को अब हर तिमाही में अपनी कंपनी की रिपोर्ट शेयर करनी होगी और SEBI द्वारा निर्धारित नियमों का पालन करना होगा, जिससे उनकी टीम को अधिक अनुशासित बनने और बेहतर योजना बनाने में मदद मिलती है.\u003c/p\u003e\u003cp\u003eछोटी कंपनियों में सार्वजनिक हो जाता है:\u003c/p\u003e\u003cul\u003e\u003cli\u003eGet money to grow without borrowing\u003c/li\u003e\u003cli\u003eHelp early investors get their money back\u003c/li\u003e\u003cli\u003eBecome well known and credible\u003c/li\u003e\u003cli\u003eUnderstand how much their business is worth\u003c/li\u003e\u003cli\u003eBe able to raise more money in the future\u003c/li\u003e\u003cli\u003eBe more responsible and transparent\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eMeera’s story shows how an IPO can help a private business become a bigger more disciplined and more successful company.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: Please explain the advantages of going public and the process.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Okay let us understand\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide02\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Advantages-Of-Going-Public-\u0026#038;-The-Process-For-An-IPO\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003eपब्लिक होने के 5.2 लाभ और IPO के लिए प्रोसेस\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-47915 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/Advantages-of-Going-Public.png\u0022 alt=\u0022Advantages of Going Public\u0022 width=\u00221062\u0022 height=\u0022867\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/Advantages-of-Going-Public.png 1062w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Advantages-of-Going-Public-300x245.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Advantages-of-Going-Public-1024x836.png 1024w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Advantages-of-Going-Public-768x627.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Advantages-of-Going-Public-50x41.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Advantages-of-Going-Public-100x82.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Advantages-of-Going-Public-150x122.png 150w\u0022 sizes=\u0022(max-width: 1062px) 100vw, 1062px\u0022 /\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003e      1. Access to Substantial Capital\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eThe biggest advantage of going public is that a company can raise a lot of money from the public. This money can be used to expand the business do research and development buy companies or pay off debt. The good thing about this money is that it does not have to be paid which makes it very useful for growing the business in the long term.\u003c/p\u003e\u003col start=\u00222\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e मौजूदा शेयरधारकों के लिए लिक्विडिटी\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eAn Initial Public Offering gives a market where people can buy and sell shares. The people who started the company the early employees and the investors can sell their shares. Get real money. This also makes it more attractive for new employees to work for the company because they can get shares as part of their pay.\u003c/p\u003e\u003col start=\u00223\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e बेहतर पब्लिक प्रोफाइल और ब्रांड विज़िबिलिटी\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eWhen a company goes public it gets a lot of attention from the media and analysts. This helps people know more about the company, which can bring in customers and improve relationships with suppliers and partners. It also shows that the company is mature and trustworthy.\u003c/p\u003e\u003col start=\u00224\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e मूल्यांकन पारदर्शिता\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eWhen a companys shares are traded publicly the market decides how much the company is worth. This is useful for making decisions like buying or selling other companies or when talking to lenders and partners.\u003c/p\u003e\u003col start=\u00225\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Improved Corporate Governance\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003ePublic companies have to follow rules and regulations like being transparent about their finances and having a system of oversight. This leads to control, transparency and accountability which are important to big investors.\u003c/p\u003e\u003col start=\u00226\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Future Fundraising Opportunities\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eOnce a company is listed it can raise money easily through other public offerings or by giving existing shareholders the right to buy more shares. This helps the company keep growing without relying much on private funding or debt.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: What is the actual process of an Initial Public Offering in India?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: It starts with the company making sure it is ready both in terms of operations. Then they hire experts like merchant bankers and legal advisors.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: So they cannot just start selling shares?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: No they cannot. They have to file a Draft Red Herring Prospectus with the Securities and Exchange Board of India which includes details about the business and the risks involved. The Securities and Exchange Board of India reviews it. Gives the go-ahead.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: What happens next?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: The company talks to investors to attract them. Then there is a process where investors bid for shares within a certain price range. After that shares are given to the investors. The company gets listed.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eNirav: So it is part strategy, part following the rules?\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eVedant: Exactly it is a process from being a private company, to a public one, based on being transparent and trustworthy.\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSo let us understand the Initial Public Offering process.\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide03\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027What-Is-An-IPO-Procedure-In-India\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.3 What Is An IPO Procedure In India?\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-47916 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/IPO-Procedure-in-India.png\u0022 alt=\u0022What Is An IPO Procedure In India\u0022 width=\u0022865\u0022 height=\u00221055\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/IPO-Procedure-in-India.png 865w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/IPO-Procedure-in-India-246x300.png 246w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/IPO-Procedure-in-India-840x1024.png 840w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/IPO-Procedure-in-India-768x937.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/IPO-Procedure-in-India-41x50.png 41w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/IPO-Procedure-in-India-82x100.png 82w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/IPO-Procedure-in-India-150x183.png 150w\u0022 sizes=\u0022(max-width: 865px) 100vw, 865px\u0022 /\u003e\u003c/p\u003e\u003cp\u003eBefore a company goes public it needs to think if it is ready. The company checks how well it is doing financially if it can grow and if it follows rules. The leaders and owners must agree on what they want in the run. Going public means responsibility like following rules and being answerable to shareholders.\u003c/p\u003e\u003ch4\u003e\u003cstrong\u003e\u003cb\u003eSteps in the IPO Process\u003c/b\u003e\u003c/strong\u003e\u003c/h4\u003e\u003cul\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eGetting Help:\u003c/b\u003e\u003c/strong\u003eThe company chooses experts to help with the IPO. These include bankers, lawyers, auditors and others. Bankers help with the IPO and pricing. Lawyers and financial experts make sure everything is correct. Follows SEBI rules.\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eChecking Everything\u003c/b\u003e\u003c/strong\u003e: A detailed document called a Draft Red Herring Prospectus (DRHP) is made. It has information about the companys business, money, risks and goals. This document is given to SEBI to check. At the time everything about the company is checked to make sure it is okay.\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eसेबी\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e’\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003es Role\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e: \u003c/b\u003e\u003c/strong\u003eSEBI checks the DRHP. Might ask for more information. If SEBI is happy it gives a light for the IPO. This step makes sure the IPO is fair to investors.\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eTelling People About the IPO\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e: \u003c/b\u003e\u003c/strong\u003eThe company and bankers go to meetings to tell people about the IPO. They want to get interest from investors. This helps see how demand there is. It is important for making people confident and setting up bidding.\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eSetting a Price\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e: \u003c/b\u003e\u003c/strong\u003eA price range is announced for investors to bid. The final price is decided based on how much investors want to buy. This way of setting a price helps find a value for the shares.\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eFinal Steps\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e: \u003c/b\u003e\u003c/strong\u003eAfter bidding shares are given to investors based on demand and rules. The company lists its shares on stock exchanges like NSE or BSE. Once listed shares can be traded freely. The company becomes public.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Nirav getting money for a business happens step by step.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: Really? I thought they just ask and get money.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: It starts with using your money or help from family. Then comes money from angel investors to try the idea.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eनीरव. Then what happens?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: If it grows they get money in rounds like Series A, B, C and so on. Each round is, for growing. They might go public. Get bought.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: So the money grows with the business?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Yes. Each stage shows how mature and risky the company is. This helps investors decide.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide04\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Stages-of-Business-Funding\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.4 \u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eStages of Business Funding \u003c/b\u003e\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-74684 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2025/09/Stages-of-Business-Funding.png\u0022 alt=\u0022Stages of Business Funding\u0022 width=\u00221043\u0022 height=\u0022954\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2025/09/Stages-of-Business-Funding.png 1043w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Stages-of-Business-Funding-300x274.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Stages-of-Business-Funding-1024x937.png 1024w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Stages-of-Business-Funding-768x702.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Stages-of-Business-Funding-50x46.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Stages-of-Business-Funding-100x91.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Stages-of-Business-Funding-150x137.png 150w\u0022 sizes=\u0022(max-width: 1043px) 100vw, 1043px\u0022 /\u003e\u003c/p\u003e\u003ch3\u003e\u003c/h3\u003e\u003ch3\u003e\u003cem\u003e\u003cstrong\u003eLet us understand the Stages of Business Funding. Stages of Business Funding are important to know.\u003c/strong\u003e\u003c/em\u003e\u003c/h3\u003e\u003cul\u003e\u003cli\u003eBootstrapping or Pre-Seed: This is when founders use their money to fund their idea. They use their savings. The focus is on making a viable product and checking if the idea is good. It is a high-risk stage. The founders have full control.\u003c/li\u003e\u003cli\u003eSeed Funding: This is the time the company gets money from outside investors like angel investors. The money is used to make the product better do market research and build a team. The investors invest based on the companys vision, not its revenue.\u003c/li\u003e\u003cli\u003eSeries A: This is when venture capital firms invest in the company to help it grow. The company should have a product that people want and be making progress. The money is used to hire people market the product and grow the business.\u003c/li\u003e\u003cli\u003eSeries C: This is the stage where the company grows fast. The money is used to expand into markets upgrade technology or buy other companies. The risk is lower. The company is expected to have a model that can be scaled up.\u003c/li\u003e\u003cli\u003eMezzanine: This is the stage where the company gets ready to go public or be acquired. The money is used to make the companys finances look better and to comply with regulations. It is often given as debt or preferred equity.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav asked: What are the types of IPOs? You mentioned Book Building and Fixed Price.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant said: That is right. Book Building is a process where investors bid for shares within a price range and the final price is decided based on demand. Fixed Price is simpler where the company sets a price upfront.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav said: So Book Building is like an auction?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant said: Exactly. It is market-driven while Fixed Price stays the same no matter what the demand is.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav said: Book Building seems flexible but Fixed Price seems easier for investors.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant said: That is true. Each type of IPO suits goals and types of investors. Do you want to know more about how they work?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide05\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Book-Building-Process-vs-Fixed-Price-Mechanism\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.5 \u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eBook Building Process vs Fixed Price Mechanism\u003c/b\u003e\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-47917 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/Book-Building-Process-vs-Fixed-Price-Mechanism.png\u0022 alt=\u0022Book Building Process vs Fixed Price Mechanism\u0022 width=\u0022998\u0022 height=\u0022902\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/Book-Building-Process-vs-Fixed-Price-Mechanism.png 998w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Book-Building-Process-vs-Fixed-Price-Mechanism-300x271.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Book-Building-Process-vs-Fixed-Price-Mechanism-768x694.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Book-Building-Process-vs-Fixed-Price-Mechanism-50x45.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Book-Building-Process-vs-Fixed-Price-Mechanism-100x90.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Book-Building-Process-vs-Fixed-Price-Mechanism-150x136.png 150w\u0022 sizes=\u0022(max-width: 998px) 100vw, 998px\u0022 /\u003e\u003c/p\u003e\u003cp\u003eNow let us look at the Book Building Process versus the Fixed Price Mechanism.\u003c/p\u003e\u003col\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Book Building Process: This is a market-driven approach\u003c/b\u003e\u003c/strong\u003e.\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThe Book Building Process is a way to decide the price for shares in an IPO. Of setting a fixed price the company gives a price range say ₹100 to ₹120 and asks investors to bid within that range during a certain period usually 3 to 7 working days. Investors say how shares they want and at what price, which helps to know the demand at different price points. This process is like a bookstore launching an edition and asking customers to bid within a price range. After collecting bids the final price is set where the demand is the strongest, which ensures pricing and efficient capital raising. Book building makes the process transparent shows the interest of the market and is commonly used for large IPOs.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003e\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eH\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eow it works\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e?\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eInvestors submit bids saying how shares they want and at what price within the given range. These bids are collected in an order book by the stock exchange. At the end of the bidding period the company and its merchant bankers look at the demand at price points and decide the cut-off price, which is the price at which the shares will be allotted.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eThe advantages of Book Building are:\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eIt helps to find the price: The final price reflects the real demand of investors, which reduces the risk of under-pricing or overpricing.\u003c/li\u003e\u003cli\u003eIt is transparent: The demand is visible throughout the bidding period for big investors.\u003c/li\u003e\u003cli\u003eIt is flexible: Investors can. Cancel their bids during the bidding period.\u003c/li\u003e\u003cli\u003eIt attracts investors: It attracts Qualified Institutional Buyers, who often support the issue.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eThe limitations of Book Building are:\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eIt can be complex: Small investors may find the bidding process and price range confusing.\u003c/li\u003e\u003cli\u003eIt can be costly: It requires marketing, roadshows and regulatory compliance.\u003c/li\u003e\u003cli\u003eIt can be time-consuming: The process involves steps and coordination.\u003c/li\u003e\u003c/ul\u003e\u003col start=\u00222\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Fixed Price Mechanism: This is a traditional model.\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThe Fixed Price Mechanism in IPOs is like a store launching a budget smartphone at a fixed price of ₹9,999, where customers pay the fixed amount without negotiation. Similarly in an IPO the company and its merchant bankers decide an offer price, in advance, which is disclosed in the prospectus. Investors apply at that fixed rate with no bidding or price range involved. The demand is known only after the IPO closes.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eकैसे\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eयह\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eWorks?\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eInvestors apply for shares at the pre-decided price and pay the full amount upfront. The demand for the issue is only known after the subscription period ends. If the issue is oversubscribed, shares are allotted proportionally or via lottery.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eलाभ\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eSimplicity:Easy for retail investors to understand and \u003c/li\u003e\u003cli\u003ePredictability:Investors know the exact price they’re \u003c/li\u003e\u003cli\u003eLowercost: Fewer marketing and administrative expenses compared to book\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003eसीमाएं\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eNoprice discovery: The price is based on internal estimates, which may not reflect true market demand.\u003c/li\u003e\u003cli\u003eDemandopacity: Investors don’t know how well the issue is performing until it\u003c/li\u003e\u003cli\u003eLimited institutional interest: QIBs often prefer the flexibility of book building.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eVedant: Hey Nirav, did you check out the NSDL IPO? I applied through 5paisa. \u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eNirav: Yeah, it was hugely oversubscribed! How was the process?\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eVedant: Super smooth. I used the cut-off price, entered my UPI ID, and approved. Got 1 lot allotted.\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cem\u003eNirav: Nice! Shares credited to your Demat?\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Yup, on August 5. Listed on BSE the next day with a 15% premium. NSDL handled custody securely\u003c/strong\u003e.\u003c/em\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide06\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027How-Can-Investors-Invest-In-IPOs\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.6 निवेशक IPO में कैसे निवेश कर सकते हैं\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-47918 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/How-can-investors-invest-in-IPO.png\u0022 alt=\u0022How can investors invest in IPO\u0022 width=\u00221016\u0022 height=\u0022955\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/How-can-investors-invest-in-IPO.png 1016w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/How-can-investors-invest-in-IPO-300x282.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/How-can-investors-invest-in-IPO-768x722.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/How-can-investors-invest-in-IPO-50x47.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/How-can-investors-invest-in-IPO-100x94.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/How-can-investors-invest-in-IPO-150x141.png 150w\u0022 sizes=\u0022(max-width: 1016px) 100vw, 1016px\u0022 /\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eवेदांत:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Hey Nirav, did you check out the NSDL IPO? I applied through one of the trading platforms.\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eनीरव:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Yeah, it was hugely oversubscribed! How was the process?\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eवेदांत:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Super smooth. I used the cut-off price, entered my UPI ID, and approved via PhonePe. Got 1 lot allotted.\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eनीरव:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Nice! Shares credited to your Demat?\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eवेदांत:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Yup\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e, \u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eon August 5. Listed on BSE the next day with a 15% premium. NSDL handled custody securely.\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eHow Can Investors Invest In IPOs \u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003ewith Trading Platforms\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003col\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e IPO ओवरव्यू\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eकंपनी\u003c/b\u003e\u003c/strong\u003e: National Securities Depository Ltd (NSDL)\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eIPO Dates\u003c/b\u003e\u003c/strong\u003e: July 30 to August 1, 2025\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eइश्यू साइज़\u003c/b\u003e\u003c/strong\u003e: ₹4,011.60 crore (Offer for Sale of 5.01 crore shares)\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003ePrice Band\u003c/b\u003e\u003c/strong\u003e: ₹760–₹800 per share\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eलॉट साइज़\u003c/b\u003e\u003c/strong\u003e: 18 शेयर\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eलिस्टिंग की तिथि\u003c/b\u003e\u003c/strong\u003e: August 6, 2025 on BSE\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eOver-subscription\u003c/b\u003e\u003c/strong\u003e: 41.02 times overall; QIBs 103.97x, NIIs 34.98x, Retail 7.76×2\u003c/li\u003e\u003c/ul\u003e\u003col start=\u00222\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Applying via Trading Platforms (Linked to NSDL)\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eडीमैट अकाउंट\u003c/b\u003e\u003c/strong\u003e: Investors opened a Demat account with Trading Platforms, which was linked to NSDL.\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003ePlatform Access\u003c/b\u003e\u003c/strong\u003e: Logged into the Trading app or website and navigated to the IPO section.\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eIPO Selection\u003c/b\u003e\u003c/strong\u003e: Selected “NSDL IPO” to view details like price band, lot size, and DRHP.\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eअनुप्रयोग\u003c/b\u003e\u003c/strong\u003e:\u003c/li\u003e\u003cli\u003eChose number of lots (e.g., 1 lot = 18 shares)\u003c/li\u003e\u003cli\u003eSelected “Cut-off price” for simplified bidding\u003c/li\u003e\u003cli\u003eEntered UPI ID for payment authorization\u003cul\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eUPI Mandate\u003c/b\u003e\u003c/strong\u003e: Approved the mandate via UPI app to block funds\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eअलॉटमेंट स्टेटस\u003c/b\u003e\u003c/strong\u003e: Checked allotment on August 4 via Trading App or registrar’s site\u003c/li\u003e\u003c/ul\u003e\u003c/li\u003e\u003c/ul\u003e\u003col start=\u00223\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Post-Allotment via NSDL\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eCredit to Demat\u003c/b\u003e\u003c/strong\u003e: Allotted shares were credited to NSDL-linked Demat accounts by August 5\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eRefunds\u003c/b\u003e\u003c/strong\u003e: Non-allottees had their blocked funds released the same day\u003c/li\u003e\u003cli\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eलिस्टिंग\u003c/b\u003e\u003c/strong\u003e: Shares listed on BSE on August 6, with a projected premium of ~15% over issue price\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eNSDL’s Role in the Process\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eस्टेज\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eNSDL’s Function\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003eAccount Setup\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eSafeguards investor holdings via Demat infrastructure\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003eShare Allotment\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eCredits shares electronically to investor accounts\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003ePost-Listing\u003c/p\u003e\u003c/td\u003e\u003ctd\u003e\u003cp\u003eMaintains secure custody of listed shares\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003eThis IPO was a strong example of how NSDL not only facilitates secure shareholding but also showcases investor confidence in capital market infrastructure\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eWhy Use Trading Platforms for IPOs?\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eSeamless UPI integration for quick applications\u003c/li\u003e\u003cli\u003eReal-time IPO alerts and allotment updates\u003c/li\u003e\u003cli\u003eIn-app research reports and IPO ratings\u003c/li\u003e\u003cli\u003eNo paperwork—entire process is digital and mobile-friendly\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eनीरव:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Vedant, \u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e,My friend\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e applied for an IPO last week but\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e he\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e didn’t get any shares. Do you know how the allotment process actually works?\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eवेदांत:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Yeah, it’s a bit of a lottery sometimes—especially for retail investors. The allotment depends on how many people apply and how many shares are available. If the IPO is oversubscribed, not everyone gets a piece.\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eनीरव:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e So it’s not just about applying early?\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eवेदांत:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Nope. Timing doesn’t matter as much as demand. For retail investors, allotment is usually done through a computerized lottery system. But for institutional investors, it’s more proportional to the amount they bid.\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eनीरव:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e दिलचस्प. What happens if the IPO isn’t fully subscribed?\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003e\u003cb\u003eवेदांत:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e Then all valid applicants get full allotment. And if there are leftover shares, they might be reallocated to other investor categories or withdrawn. Want to walk through the full process step by step? It’s actually quite structured.\u003c/b\u003e\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide07\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027How-Are-Shares-Alloted?\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.7 How Are Shares Alloted?\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-47919 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/Process-of-Share-Allotment-in-IPO.png\u0022 alt=\u0022Process of Share Allotment in IPO\u0022 width=\u0022918\u0022 height=\u0022717\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/Process-of-Share-Allotment-in-IPO.png 918w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Process-of-Share-Allotment-in-IPO-300x234.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Process-of-Share-Allotment-in-IPO-768x600.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Process-of-Share-Allotment-in-IPO-50x39.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Process-of-Share-Allotment-in-IPO-100x78.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Process-of-Share-Allotment-in-IPO-150x117.png 150w\u0022 sizes=\u0022(max-width: 918px) 100vw, 918px\u0022 /\u003e\u003c/p\u003e\u003cp\u003eIPO share allotment is like applying for concert tickets with limited seats. If demand is low, everyone gets shares—just like an under-subscribed show. But if it’s oversubscribed, retail investors may get shares via lottery, while institutional ones receive proportional allotment.\u003c/p\u003e\u003cp\u003eInvalid or duplicate applications are rejected, and refunds are issued to those who don’t get shares. The process is regulated by SEBI and managed by the IPO registrar and stock exchange to ensure fairness and transparency.\u003c/p\u003e\u003col\u003e\u003cli\u003e\u003cstrong\u003eCategorization of Investors\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003eIPO shares are divided into categories:\u003c/li\u003e\u003cli\u003eRetail Individual Investors (RIIs) – typically allotted 35% of the issue\u003c/li\u003e\u003cli\u003eNon-Institutional Investors (NIIs) – allotted 15%\u003c/li\u003e\u003cli\u003eQualified Institutional Buyers (QIBs) – allotted up to 50% Each category has its own allotment rules and reservation.\u003c/li\u003e\u003c/ul\u003e\u003col start=\u00222\u0022\u003e\u003cli\u003e\u003cstrong\u003eValidity of Applications\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eOnly valid applications are considered. Invalid ones—due to incorrect PAN, multiple applications from the same investor, or mismatched bank details—are rejected.\u003c/p\u003e\u003col start=\u00223\u0022\u003e\u003cli\u003e\u003cstrong\u003eUndersubscription Scenario\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eIf the IPO is under-subscribed (i.e., fewer applications than available shares), all valid applicants receive full allotment. The remaining shares may be reallocated to other categories or withdrawn.\u003c/p\u003e\u003col start=\u00224\u0022\u003e\u003cli\u003e\u003cstrong\u003eOversubscription Scenario\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eIf the IPO is oversubscribed, allotment becomes selective:\u003c/p\u003e\u003cul\u003e\u003cli\u003eForretail investors, allotment is done via a lottery Each valid applicant has an equal chance of receiving at least one lot.\u003c/li\u003e\u003cli\u003eFor NIIs and QIBs, shares are allotted proportionally based on the size of their \u003c/li\u003e\u003c/ul\u003e\u003col start=\u00225\u0022\u003e\u003cli\u003e\u003cstrong\u003eBasis of Allotment Document\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThe registrar prepares a “Basis of Allotment” document, which outlines how shares were distributed across categories and how over subscription was handled. This is published on the registrar’s website.\u003c/p\u003e\u003col start=\u00226\u0022\u003e\u003cli\u003e\u003cstrong\u003eCredit and Refund\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003eAllotted shares are credited to investors’ Demat \u003c/li\u003e\u003cli\u003eIf no shares are allotted, the blocked funds are released (in case of UPI or ASBA applications).\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: Vedant, is the Red Herring Prospectus really important for IPO investors?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Definitely. It’s the company’s pitch to the public, covering business, financials, risks, and fund usage.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: What should I focus on?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Start with the business overview, industry analysis, and objectives of the issue. Then check financials and risk factors.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: What about the team?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Look at management experience, capital structure, and anchor investor interest. It all signals credibility.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: So it’s like a preview before investing?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eवेदांत: ठीक. It won’t show the final price, but it helps you decide if the IPO is worth applying for.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide08\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027What-Should-Investors-Look-Into-Red-Herring-Prospectus?\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.8 What Should Investors Look Into Red Herring Prospectus?\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-47920 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/Why-Should-Investors-Look-at-In-Red-Hearing-Prospectus.png\u0022 alt=\u0022Why Should Investors Look at In Red Hearing Prospectus\u0022 width=\u00221008\u0022 height=\u0022707\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/Why-Should-Investors-Look-at-In-Red-Hearing-Prospectus.png 1008w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Why-Should-Investors-Look-at-In-Red-Hearing-Prospectus-300x210.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Why-Should-Investors-Look-at-In-Red-Hearing-Prospectus-768x539.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Why-Should-Investors-Look-at-In-Red-Hearing-Prospectus-50x35.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Why-Should-Investors-Look-at-In-Red-Hearing-Prospectus-100x70.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/Why-Should-Investors-Look-at-In-Red-Hearing-Prospectus-150x105.png 150w\u0022 sizes=\u0022(max-width: 1008px) 100vw, 1008px\u0022 /\u003e\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003eA Red Herring Prospectus is a document that a company files with SEBI when it wants to raise money through an Initial Public Offering. This document is like a brochure that tells you all about the companys business, money and what it plans to do with the funds it raises. It helps investors decide if they want to put their money into the company.. It does not have the final details like how much the shares will cost or how many shares will be sold.\u003c/p\u003e\u003cp\u003eThe name \u0026#8220;red herring\u0026#8221; comes from a warning on the cover that says this document is not final. The company puts out the Red Herring Prospectus before the Initial Public Offering starts and some important details are decided later. This document is very important because it helps investors make decisions even when they do not have all the details.\u003c/p\u003e\u003col\u003e\u003cli\u003e\u003cstrong\u003eBusiness Overview and Industry Landscape\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThis part of the Red Herring Prospectus tells you about the companys business and where it stands in its industry. Investors should look at how the company explains what it does where it gets its money, who its customers are and if it is in a growing market or a market that is already full. The Red Herring Prospectus also looks at the industry as a whole, which helps investors figure out if the company will be able to grow in the term.\u003c/p\u003e\u003col start=\u00222\u0022\u003e\u003cli\u003e\u003cstrong\u003eObjectives of the Issue\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThis explains why the company is raising money. Is it to grow the business pay off debt or for the owners to get some money out. Investors should think about if the companys goals will help it do well in the term.\u003c/p\u003e\u003col start=\u00223\u0022\u003e\u003cli\u003e\u003cstrong\u003eFinancial Performance and Key Ratios\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThis part of the Red Herring Prospectus looks at how the company has done in the past and some important numbers like how much money it has made. Investors can use this information to get an understanding of the Red Herring Prospectus and the company. The Red Herring Prospectus is about giving investors the information they need to make good decisions, about the company and its Red Herring Prospectus.\u003c/p\u003e\u003ch3\u003e\u003cem\u003e\u003cstrong\u003eWhen you are looking at a company with your peers you should watch out for flags like declining margins or negative cash flows.\u003c/strong\u003e\u003c/em\u003e\u003c/h3\u003e\u003col\u003e\u003cli\u003e\u003cstrong\u003eजोखिम कारक\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThis is where you find out about the financial and regulatory risks that a company faces. You should identify the risks and see how the company plans to deal with them.\u003c/p\u003e\u003cp\u003e2.. \u003cstrong\u003eमैनेजमेंट टीम\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eThis section tells you about the people who are leading the company and how much of the company they own. You want to see if they have a track record, relevant experience and if they have had any problems with the law in the past.\u003c/p\u003e\u003col start=\u00223\u0022\u003e\u003cli\u003e\u003cstrong\u003eपूँजी. Offer Details\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThis breaks down who owns the company and how the initial public offering or IPO is split between shares and existing shares being sold. After the IPO you can see how committed the promoters are and if big investors are interested.\u003c/p\u003e\u003col start=\u00224\u0022\u003e\u003cli\u003e\u003cstrong\u003eमूल्यांकन और मूल्य निर्धारण विचार\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThis gives you the information you need to figure out if the IPO is priced fairly. You can look at things like earnings per share net asset value and valuation multiples. Compare them to other companies in the same industry.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav asks Vedant, what is the IPO grey market?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant says, it is like a space where people trade IPO shares or applications before they are officially listed. It is not regulated by the Securities and Exchange Board of India or SEBI. It can give you an idea of how investors are feeling.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav wants to know do people trade shares before they are even allotted?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant says, yes they do. They. वे शेयर बेचते हैं जिन्हें वे अधिक कीमत पर प्राप्त करने की उम्मीद करते हैं या वे एक निश्चित फी के लिए आवेदनों का व्यापार करते हैं, जिसे Kostak रेट कहा जाता है.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav asks, what is the Grey Market Premium?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant explains it is the amount that people are willing to pay over the official price. उदाहरण के लिए, अगर आधिकारिक कीमत 300 रुपये है लेकिन लोग 360 रुपये का भुगतान करने के लिए तैयार हैं, तो ग्रे मार्केट प्रीमियम 60 रुपये है. It can give you an idea of how people think the stock will do when it is listed. It is not always right.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav says, so it is helpful but a bit risky?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant agrees it is not officially regulated,. There is no legal protection but it can be useful for seeing how much demand there is for a stock. Do you want to look at what\u0026#8217;s happening with the Grey Market Premium lately?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide09\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027What-Is-An-IPO-Grey-Market?\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.9 What Is An IPO Grey Market?\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-47921 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/What-is-An-IPO-Grey-Market.png\u0022 alt=\u0022What is an IPO Grey Market\u0022 width=\u0022965\u0022 height=\u0022926\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2021/10/What-is-An-IPO-Grey-Market.png 965w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-An-IPO-Grey-Market-300x288.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-An-IPO-Grey-Market-768x737.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-An-IPO-Grey-Market-50x48.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-An-IPO-Grey-Market-100x96.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2021/10/What-is-An-IPO-Grey-Market-150x144.png 150w\u0022 sizes=\u0022(max-width: 965px) 100vw, 965px\u0022 /\u003e\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003eAn IPO Grey Market is like a platform where people trade shares before they are officially listed. यह SEBI द्वारा विनियमित नहीं है. It shows how investors are feeling and what they think will happen. It can affect how interested individual investors are. For example if an IPO is priced at 200 rupees but people are trading it for 260 rupees in the grey market then the Grey Market Premium is 60 rupees, which means people are feeling positive about the stock.\u003c/p\u003e\u003cp\u003eThere are terms like Kostak Rate, which\u0026#8217;s the price for an IPO application and Subject to Sauda, which are deals that depend on whether you actually get the shares. These are cash deals that happen through networks. While the Grey Market Premium can give you an idea of how demand there is it is also driven by hype and it is not a guarantee that the stock will do well when it is listed.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant asks Nirav have you ever wondered what really changes when a company goes public?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav says, besides raising money not. Does it affect how the company operates?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant says, yes it does. When a company goes public it gets the money it needs to grow. It becomes more credible. Being transparent attracts investors and partners who can help the company.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav asks, what about for investors?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant says, early investors can sell their shares. Get their money back and new investors can join in and be a part of the companys growth.. Ipos can be unpredictable. Sometimes the hype around a company does not match its actual performance.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav says, so it is both an opportunity and a risk?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant agrees IPOs can be a change, for a company and can reward investors but only if they really understand the company and what it does.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide10\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Impact-of-IPO-on-Company-\u0026#038;-Investors\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.10 \u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eImpact of IPO on Company \u0026amp; Investors\u003c/b\u003e\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-74685 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2025/09/Impact-of-IPO-on-Company-and-Investors.png\u0022 alt=\u0022Impact of IPO on Company and Investors\u0022 width=\u0022972\u0022 height=\u0022778\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2025/09/Impact-of-IPO-on-Company-and-Investors.png 972w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Impact-of-IPO-on-Company-and-Investors-300x240.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Impact-of-IPO-on-Company-and-Investors-768x615.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Impact-of-IPO-on-Company-and-Investors-50x40.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Impact-of-IPO-on-Company-and-Investors-100x80.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/Impact-of-IPO-on-Company-and-Investors-150x120.png 150w\u0022 sizes=\u0022(max-width: 972px) 100vw, 972px\u0022 /\u003e\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003eAn Initial Public Offering is a deal for the company that is going public and the people who are investing in it.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eImpact on the Company\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003col\u003e\u003cli\u003eThe company gets the money it needs to grow: when a company has an IPO it gets the funds to expand do research buy companies or pay off debt. This helps the company grow without having to borrow a lot of money.\u003c/li\u003e\u003cli\u003eMore people know about the company: when a company is listed on the stock market more people know about it it gets attention from the media and people trust it more. This helps the company attract employees and partners.\u003c/li\u003e\u003cli\u003eThe company can figure out what it is worth: when the company is on the stock market it can see what it is worth. This helps when it needs to raise more money. It also gives the people who invested early and the employees a chance to sell their shares.\u003c/li\u003e\u003cli\u003eThe company has to be more transparent: when a company is public it has to be honest and transparent. This can also mean it has to worry about making money in the short term.\u003c/li\u003e\u003cli\u003eThe company has to deal with the ups and downs of the stock market: when the stock price goes up and down it can affect the decisions the company makes. Sometimes it can stop the company from thinking about the long term.\u003c/li\u003e\u003c/ol\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eनिवेशकों पर प्रभाव\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003col\u003e\u003cli\u003eInvestors can get in on the ground floor: when a company has an IPO investors can buy shares on and this can mean they make a lot of money if the company does well.\u003c/li\u003e\u003cli\u003eIt is a risk but also a high reward: if the company does well the investors can make a lot of money but if it does not they can lose money so they have to be careful and do their research.\u003c/li\u003e\u003cli\u003eInvestors can make money in the term: if investors buy shares in a company that does well they can make money over time like what happened with Infosys, IRCTC and Zomato.\u003c/li\u003e\u003cli\u003eनियमित निवेशकों के लिए यह पाना मुश्किल हो सकता है: जब किसी कंपनी के पास IPO होता है तो नियमित लोगों के लिए शेयर खरीदना मुश्किल हो सकता है क्योंकि उनके पास बड़े निवेशकों की तरह अधिक जानकारी या एक्सेस नहीं होता है.\u003c/li\u003e\u003c/ol\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: Vedant how do Employee Stock Ownership Plans connect with IPOs?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Employee Stock Ownership Plans let employees buy shares at a price. कंपनी के पास IPO आने के बाद, इन शेयरों की कीमत होती है और कर्मचारी पैसे कमा सकते हैं.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: So the employees do well if the stock does well?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eवेदांतः हां कि सही है. अगर कंपनी के पास IPO कर्मचारी हैं, तो वे अपने कर्मचारी स्टॉक ओनरशिप प्लान से पैसे कमा सकते हैं. The company has to tell people about the Employee Stock Ownership Plans and follow the rules.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: What about people who used to work for the company?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eवेदांतः अगर उनके पास अभी भी शेयर खरीदने के विकल्प हैं तो वे पैसे कमा सकते हैं. There are rules they have to follow.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: So Employee Stock Ownership Plans help the company keep employees?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Yes they do. They help the employees and the company want the things and when the company has an IPO it can be a big deal for the employees. It is like a milestone, for them.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide11\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027What-is-Employee-Stock-Options\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.11 \u003c/strong\u003e\u003cb\u003e\u003c/b\u003e\u003cstrong\u003e\u003cb\u003eक्या है \u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eEmployee Stock Options (ESOPs)\u003c/b\u003e\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-74686 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2025/09/What-is-ESOPs.png\u0022 alt=\u0022What is ESOPs\u0022 width=\u0022972\u0022 height=\u0022996\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2025/09/What-is-ESOPs.png 972w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/What-is-ESOPs-293x300.png 293w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/What-is-ESOPs-768x787.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/What-is-ESOPs-50x50.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/What-is-ESOPs-98x100.png 98w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/What-is-ESOPs-150x154.png 150w\u0022 sizes=\u0022(max-width: 972px) 100vw, 972px\u0022 /\u003e\u003c/p\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003c/h2\u003e\u003cp\u003eEmployee Stock Options and Initial Public Offerings are really connected, in startups and companies that are growing fast. ये कंपनियां अपने कर्मचारियों को प्रेरित करने के लिए इक्विटी का उपयोग करती हैं.\u003c/p\u003e\u003col\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Employee Stock Options Before an Initial Public Offering\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eIn companies Employee Stock Options are not easy to sell. कर्मचारियों को विकल्प या शेयर मिलते हैं. They cannot sell them easily. However they get these options because the company hopes to go public or be bought someday which will make the options worth something. Many startups use Employee Stock Options to pay their employees because they cannot pay them salaries. This way the employees are motivated to help the company grow in the term.\u003c/p\u003e\u003col start=\u00222\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Employee Stock Options During an Initial Public Offering\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eWhen a company decides to go public it must tell everyone about all the Employee Stock Options in its Red Herring Prospectus. The rules say that the company must be clear about how many options are given how many are used and how many are exercised. Some important things to consider are:\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eविसंजन: \u003c/b\u003e\u003c/strong\u003eEmployee Stock Options increase the number of shares which can decrease the value of the shares that already exist.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eLock-in Periods: \u003c/b\u003e\u003c/strong\u003eSometimes the shares from Employee Stock Options cannot be sold for a while after the company goes public.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003ePromoter Classification:\u003c/b\u003e\u003c/strong\u003e If the founders of the company have Employee Stock Options they might face some restrictions if they are considered promoters.\u003c/p\u003e\u003col start=\u00223\u0022\u003e\u003cli\u003e\u003cstrong\u003e\u003cb\u003e Employee Stock Options After an Initial Public Offering\u003c/b\u003e\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eAfter the company goes public Employee Stock Options become worth something. Employees can use their options. Sell the shares on the market but they might have to wait for a while. This can make the employees very rich if the stock does well.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eHowever employees also need to think about:\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eटैक्सेशन:\u003c/b\u003e\u003c/strong\u003e Employee Stock Options are taxed in two stages. When the option is used and when the share is sold.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eमार्केट में उतार-चढ़ाव:\u003c/b\u003e\u003c/strong\u003e The price of the share can go up and down after the company goes public which can affect the value of the options.\u003c/p\u003e\u003col start=\u00224\u0022\u003e\u003cli\u003e\u003cstrong\u003eDevelopments\u003c/strong\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eThe Securities and Exchange Board of India is thinking about changing the rules to let startup founders keep their Employee Stock Options after the company goes public. This is to fix the problems of dilution and motivation. They are also thinking about making a rule that says there must be a waiting period between giving Employee Stock Options and going public.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: Vedant some companies do well after they go public while others do not. What makes the difference?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: That is where looking at Initial Public Offering cases comes in. They show how things like valuation, timing and being clear about the business can make or break a debut.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: Can you give me an example?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Yes\u003c/strong\u003e\u003c/em\u003e.\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide12\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Historical-IPO-Case-Studies\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; min-height:400px; \u0027\u003e\u003ch2 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e5.12 \u003c/strong\u003e\u003cstrong\u003e\u003cb\u003eHistorical IPO Case Studies\u003c/b\u003e\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-74687 size-full\u0022 src=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2025/09/The-Coal-India-IPO-of-2010.png\u0022 alt=\u0022The Coal India IPO of 2010\u0022 width=\u0022944\u0022 height=\u00221010\u0022 srcset=\u0022https://www.5paisa.com/hindi/finschool/wp-content/uploads/2025/09/The-Coal-India-IPO-of-2010.png 944w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/The-Coal-India-IPO-of-2010-280x300.png 280w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/The-Coal-India-IPO-of-2010-768x822.png 768w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/The-Coal-India-IPO-of-2010-47x50.png 47w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/The-Coal-India-IPO-of-2010-93x100.png 93w, https:/www.5paisa.com/finschool/wp-content/uploads/2025/09/The-Coal-India-IPO-of-2010-150x160.png 150w\u0022 sizes=\u0022(max-width: 944px) 100vw, 944px\u0022 /\u003e\u003c/p\u003e\u003cp\u003eThe Coal India Initial Public Offering in 2010 was an event in Indias capital market history. It was not just big. It also showed how the government, investors and the sector can work together.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eपृष्ठभूमि और संदर्भ\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eCoal India Limited is a company that produces coal. It is owned by the government. Produces most of India’s coal. Before the Initial Public Offering the government wanted to sell some of its shares to the public.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eInitial Public Offering Details and Structure\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eThe Initial Public Offering happened in October 2010. Aimed to raise about ₹15,200 crore by selling 631.6 million shares. The price of each share was between ₹225 and ₹245. The shares were sold from October 18 to October 21 2010. Were listed on the market on November 4 2010.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eThe Initial Public Offering was structured to attract investors:\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003e45% of the shares were for big investors\u003c/li\u003e\u003cli\u003e5% were for individual investors\u003c/li\u003e\u003cli\u003e5% were for other investors\u003c/li\u003e\u003cli\u003e10% were for Coal India employees\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eInvestor Response and Market Impact\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eThe Initial Public Offering was very successful and was oversubscribed by 15.28 times. The highest demand came from investors, who subscribed 25.4 times their limit. On the day of trading the share price was ₹287.75 which is 17.5% higher than the Initial Public Offering price. It closed at ₹342.35 which showed that investors were confident in the company.\u003c/p\u003e\u003cp\u003eThis Initial Public Offering was not just big. It also made individual investors interested in the stock market again after the 2008 financial crisis. It showed that with the price, transparency and sector strength even government-led Initial Public Offerings can attract many investors.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eStrategic Significance\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eThe Coal India Initial Public Offering was more than raising money. यह:\u003c/b\u003e\u003c/strong\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003eSet a benchmark for government-led Initial Public Offerings\u003c/li\u003e\u003cli\u003eMade the sector more transparent and governed\u003c/li\u003e\u003cli\u003eMade the company more accountable, to its shareholders\u003c/li\u003e\u003cli\u003eBroadened retail participation in India’s equity markets\u003c/li\u003e\u003cli\u003eReinforced investor appetite for resource-based cash-rich businesses\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eTypes of IPO Pricing Mechanisms:\u003c/p\u003e\u003cul\u003e\u003cli\u003eBook Building allows investors to bid within a price range and helps discover the issue price.\u003c/li\u003e\u003cli\u003eFixed Price offers a price upfront making it simpler but less responsive to market demand.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eStages of Business Funding:\u003c/b\u003e\u003c/strong\u003e From starting small to seed funding, Series A/B/C and bridge rounds IPOs are the stage of raising money for big companies that want to grow and be liquid.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eShare Allotment Process:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e\u003c/b\u003e\u003c/strong\u003eHow shares are given out varies by investor type and demand. If many people want shares retail applicants pick them through a lottery. If not enough people want shares everyone gets the shares they want.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eImportance of the Red Herring Prospectus:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e\u003c/b\u003e\u003c/strong\u003eInvestors must read the Red Herring Prospectus to understand the companys business, money situation, risks, leaders and offer details before buying into an IPO.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eIPO Examples:\u003c/b\u003e\u003c/strong\u003e Coal Indias 2010 IPO shows how valuation, timing what investors think and sector strength affect IPO results.\u003c/p\u003e\u003cp\u003eHere are key Takeaways\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eWhat is an IPO:\u003c/b\u003e\u003c/strong\u003e An Initial Public Offering is when a private company sells shares to the public for the time on a stock exchange.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eWhy Companies Go Public:\u003c/b\u003e\u003c/strong\u003e Companies do IPOs to raise a lot of money give investors a way to sell their shares look more credible and grow.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eIPO Journey:\u003c/b\u003e\u003c/strong\u003e Meera’s chocolate business shows the move from using your money to raising public capital.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eGetting Ready:\u003c/b\u003e\u003c/strong\u003e Before an IPO companies must check their health rules compliance, growth potential and management ability.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cb\u003eDetailed IPO Procedure:\u003c/b\u003e\u003c/strong\u003e\u003cstrong\u003e\u003cb\u003e\u003c/b\u003e\u003c/strong\u003eThe process includes choosing helpers filing a draft prospectus SEBI review, roadshows, finding the price and final listing.\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: That IPO chapter was tough. What happens after listing—do we just keep the shares?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Not really. That’s where the stock market comes in.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: So shares trade, on NSE or BSE?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: Yes. Investors buy and sell shares; no new money goes to the company.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: And all that charting and analysis?\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eVedant: That’s stock market stuff—price changes, feelings, plans. It’s where a stock proves itself.\u003c/strong\u003e\u003c/em\u003e\u003c/p\u003e\u003cp\u003e\u003cem\u003e\u003cstrong\u003eNirav: Makes sense. 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