IPOPlatform Blogs

There are two types of IPO, Mainboard IPO and SME IPO. Each type of IPO is governed by a different set of eligibility guidelines for IPO. Multiple financial intermediaries are involved in an IPO, including IPO Advisors and Merchant Bankers (BRLM) which play a crucial role in IPO process. 
 

A market maker is an individual or a registered entity (usually a broker or trading member of a stock exchange) registered with SEBI in consultation with the Stock Exchange. These financial intermediaries provide liquidity in a stock market by continuously offering to buy (bid) and sell (ask) specific securities during market hours. 

In the month of August 2025, 21 DRHP (Draft Red Herring Prospectus) were filed on SME platform. The filings include 14 DRHP filings with the BSE SME exchange and 7 DRHP filings with NSE Emerge of the SME platform of India. Additionally, 28 SME IPO listings were seen in the month of August. 

In the month of July 2025, 24 companies have filed Draft Red Herring Prospectus (DRHP). The filings include 15 companies filed DRHP with BSE SME exchange and 9 with NSE Emerge of the SME platform of India. Additionally, 32 SME IPOs were listed in the month of July. 

19 companies have filed DRHP on Mainboard platform in the month of July 2025. Out of 19 DRHPs, 5 DRHPs were filed by way of Confidential Filing as provided in SEBI ICDR Regulations. Additonally, 10 Mainboard listings happened in the month of July 2025.

The IFSCA (International Financial Services Centre Authority) is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC).

Qualified Institutional Placement (QIP) is a fast-track method for listed companies in India to raise capital from Qualified Institutional Buyers (QIBs) without public marketing or SEBI pre-issue approval. Introduced by SEBI in 2006, QIP allows issuance of equity or convertible securities under flexible, cost-effective regulations. With no lock-in for QIBs and simplified documentation, it offers quicker execution than IPOs or FPOs. Eligibility, pricing, and allotment norms are governed by SEBI ICDR guidelines.

India’s flex office market is expanding rapidly, and IndiQube Spaces is looking to capitalize on this shift with its ₹700 crore mainboard IPO. At the heart of its pitch lies a booming ₹96,000 crore industry, projected to grow at ~20% CAGR by 2027, according to CBRE.

With only two listed players in the flexible workspace, commercial real estate solutions segment and other peers preparing to go public in the future, IndiQube’s upcoming public debut comes at a strategic inflection point for the industry. Several unlisted firms, including Smartworks, are also preparing for IPOs, setting up the space for a wave of new listings in the coming quarters.

The National Stock Exchange (NSE) is India’s leading electronic stock exchange, offering a secure platform for trading equities, derivatives, and debt instruments. It operates two key listing platforms: the Mainboard for large companies and NSE EMERGE for SMEs. NSE has introduced various products and services including mutual funds, derivatives, and a Social Stock Exchange. With transparent systems, automated operations, and multiple indices like Nifty 50, NSE plays a crucial role in India’s capital market ecosystem.

In June 2025, 48 companies filed DRHPs across SME and Mainboard platforms, with 24 IPOs successfully listed. Of these, 32 were SME filings (23 with BSE SME, 9 with NSE Emerge) and 26 on the Mainboard. IPOPlatform.com continues to assist companies as knowledge partners, offering expert support, real-time insights, and due diligence guidance to help businesses and investors navigate the growing IPO landscape with confidence.

India’s SME capital markets have evolved significantly, thanks to early institutional efforts led by Rajasthan Global Securities Pvt. Ltd. (RGSPL). As one of the first QIBs to anchor SME IPOs, RGSPL provided much-needed credibility and momentum. Their 100th anchor investment marks a defining moment, signaling the maturity of India’s SME Exchange and its transformation into a credible, scalable investment platform.