Post-Listing and Liquidity

Sustain coverage, communicate clearly, widen ownership. Investor relations operations, compliance calendar and follow-on capital paths for Main Board and SME with liquidity programs and migration.

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[ 01/05 ] · WHAT WE DO

What We Do

Lock-in and compliance: promoter minimum contribution and lock-in per ICDR, pre-IPO and anchor lock-ins, pledge monitoring and disclosure per SEBI SAST and Listing Regulations

PIT code and event filings: insider trading compliance, materiality determination framework under LODR Regulation 30, UPSI protocols

Compliance calendar: quarterly results, annual general meeting, board meetings, shareholding pattern per LODR Regulation 31, related-party transaction disclosures

Research and coverage: analyst education on publicly disclosed information only, no selective disclosure or promises of research initiation

KPI framework aligned with continuous disclosure obligations under LODR, model bridges and disclosure library

Earnings and IR operations: quarterly results preparation, earnings call scripts, analyst and investor Q&A, IR website and materials

Investor access programs: non-deal roadshows, investor conferences, facility visits within permitted disclosure guidelines

Targeting institutional investors: domestic AIFs, insurance, mutual funds, foreign portfolio investors subject to FPI regulations and limits

Follow-on capital planning: QIP (Main Board), further public offerings, offer for sale, block trades, buybacks, rights issues

Index inclusion work for Main Board: eligibility tracking, free float calculations, communications with index providers

SME to Main Board migration: eligibility criteria tracking per ICDR including net worth, track record and float, regulatory filings and investor communications

[ 02/05 ] · SME FOCUS

SME Focus

SME Focus

SME Focus

Post-listing liquidity program with market maker: quote obligations on spread and depth per exchange rules, performance review cadence

Ongoing investor education and distribution programs for SME stocks within permitted disclosure rules

Lot size review and trading activity monitoring for retail accessibility and liquidity

Migration planning and execution: track eligibility criteria, address readiness gaps, coordinate migration filings with exchanges and investor communications

[ 03/05 ] · DELIVERABLES

Our Deliverables

IR Toolkit

KPI pack, analyst presentation, earnings model templates and disclosure cadence calendar

Compliance Calendar

Filing templates for LODR Regulation 30 events, quarterly results, shareholding patterns

Institutional Targeting Plan

Investor meeting notes and feedback mapping

Follow-On Capital Options

Matrix with regulatory pathways, timelines and market considerations

SME Program Dossier

Market maker agreement, lot size recommendations, liquidity metrics, migration roadmap and timeline

[ 04/05 ] · REQUIREMENTS

Key Requirements & Operating Framework

Inputs We Need

Quarterly financials and KPIs, disclosure policy, approach to forward-looking statements per SEBI guidelines, board calendars, registrar or RTA and depository contacts, market maker contact for SME

Indicative Timeline

Quarterly cadence for earnings and IR. Follow-on transaction timelines vary by instrument and market conditions. SME migration per eligibility achievement and exchange timelines, issuer dependent

Compliance Notes

SEBI LODR and PIT regulations observed throughout. Publicity and selective disclosure controls followed. No promises on research coverage, price performance, allocation outcomes or transaction timing

[ 05/05 ] · FAQs

Answers to Common Questions

Learn about S45's IPO services, process, and what to expect

What is S45?

S45 is an AI-enabled Investment Bank helping Indian companies go public on SME and Main Board. We pair sector bankers with proprietary analytics for readiness, pricing, bookbuilding, listing, and post-IPO investor relations

What exactly do you do?

Three things end to end:
1) Source – eligibility, Demand Thesis (cohort view), teach-ins.

2) Diligence – Readiness Scan, data room, DRHP/RHP with auditors, counsel, and the Lead Manager.

3) List – price-band work, bookbuilding and allocation with Registrar/RTA, listing day and 30/90-day investor relations

Who is your merchant banking partner?

We execute IPOs with Narnolia as Category-I Merchant Banker (Lead Manager). S45 runs AI-led readiness, demand mapping, pricing support, and after-market investor relations

Which sectors do you cover?

Aerospace & Defence, Automotive, Chemicals, Consumer, Energy, Financial Services, Healthcare, Industrials, Technology, Agriculture, Education, and Hospitality. Each has bankers with India-specific operating and regulatory depth

What does the IPO process involve and how long does it take?

Pre-filing readiness → DRHP (SEBI) → RHP → pricing & bookbuilding (or fixed-price where applicable) → allotment with Registrar/RTA (ASBA/UPI) → listing (NSDL/CDSL) → post-IPO IR.

For SME, market maker coordination applies. Main Board is typically 6–12 months from engagement to listing, depending on audit readiness, SEBI observations, and market conditions. SME timelines can be as short as 2–3 months. We map a realistic calendar for your current state

How do you determine pricing and who are the key investor categories?

We build a valuation range using sector comps and cash-flow methods, then refine it with pre-IPO soundings and demand during the bookbuild. We do not guarantee a price or allocation. Indian IPOs allocate to QIBs (institutions), NIIs/HNIs (larger-ticket applicants), and Retail. Anchor investors may participate before the issue opens, per rules.

What are SEBI's core disclosure needs and what if we are not IPO-ready yet?

SEBI requires three years of audited financials, risk factors, related-party transactions, promoter details, use of proceeds, material contracts, and litigation. All SEBI observations must be addressed before the RHP. If you are not ready, we run a Readiness Scan and give a clear plan covering governance, disclosures, board independence, controls, and investor messaging. Many teams work with us 12–18 months before filing.

How does S45 charge and what about investor introductions?

A retainer for readiness and filing work plus milestone-linked fees tied to issue execution. Terms are discussed upfront and documented in the engagement letter. Investor previews are cohort-level only before mandate. Investor identities are shared after NDA or mandate, and outreach is coordinated with the Lead Manager.

Do you coordinate market makers for SME and support post-listing IR??

Yes. For eligible SME issues we shortlist market makers, align obligations, and integrate this into the post-listing liquidity plan. We also set an investor relations calendar, prepare earnings materials, target investors, and coordinate with analysts for coverage and liquidity over the first 30/90 days and beyond.

Do you guarantee timelines, pricing, or allotment?

No. Outcomes depend on SEBI review, market conditions, and investor demand. Our job is to prepare you thoroughly, map demand, and execute with discipline

What is S45?

S45 is an AI-enabled Investment Bank helping Indian companies go public on SME and Main Board. We pair sector bankers with proprietary analytics for readiness, pricing, bookbuilding, listing, and post-IPO investor relations

What exactly do you do?

Three things end to end:
1) Source – eligibility, Demand Thesis (cohort view), teach-ins.

2) Diligence – Readiness Scan, data room, DRHP/RHP with auditors, counsel, and the Lead Manager.

3) List – price-band work, bookbuilding and allocation with Registrar/RTA, listing day and 30/90-day investor relations

Who is your merchant banking partner?

We execute IPOs with Narnolia as Category-I Merchant Banker (Lead Manager). S45 runs AI-led readiness, demand mapping, pricing support, and after-market investor relations

Which sectors do you cover?

Aerospace & Defence, Automotive, Chemicals, Consumer, Energy, Financial Services, Healthcare, Industrials, Technology, Agriculture, Education, and Hospitality. Each has bankers with India-specific operating and regulatory depth

What does the IPO process involve and how long does it take?

Pre-filing readiness → DRHP (SEBI) → RHP → pricing & bookbuilding (or fixed-price where applicable) → allotment with Registrar/RTA (ASBA/UPI) → listing (NSDL/CDSL) → post-IPO IR.

For SME, market maker coordination applies. Main Board is typically 6–12 months from engagement to listing, depending on audit readiness, SEBI observations, and market conditions. SME timelines can be as short as 2–3 months. We map a realistic calendar for your current state

How do you determine pricing and who are the key investor categories?

We build a valuation range using sector comps and cash-flow methods, then refine it with pre-IPO soundings and demand during the bookbuild. We do not guarantee a price or allocation. Indian IPOs allocate to QIBs (institutions), NIIs/HNIs (larger-ticket applicants), and Retail. Anchor investors may participate before the issue opens, per rules.

What are SEBI's core disclosure needs and what if we are not IPO-ready yet?

SEBI requires three years of audited financials, risk factors, related-party transactions, promoter details, use of proceeds, material contracts, and litigation. All SEBI observations must be addressed before the RHP. If you are not ready, we run a Readiness Scan and give a clear plan covering governance, disclosures, board independence, controls, and investor messaging. Many teams work with us 12–18 months before filing.

How does S45 charge and what about investor introductions?

A retainer for readiness and filing work plus milestone-linked fees tied to issue execution. Terms are discussed upfront and documented in the engagement letter. Investor previews are cohort-level only before mandate. Investor identities are shared after NDA or mandate, and outreach is coordinated with the Lead Manager.

Do you coordinate market makers for SME and support post-listing IR??

Yes. For eligible SME issues we shortlist market makers, align obligations, and integrate this into the post-listing liquidity plan. We also set an investor relations calendar, prepare earnings materials, target investors, and coordinate with analysts for coverage and liquidity over the first 30/90 days and beyond.

Do you guarantee timelines, pricing, or allotment?

No. Outcomes depend on SEBI review, market conditions, and investor demand. Our job is to prepare you thoroughly, map demand, and execute with discipline

What is S45?

S45 is an AI-enabled Investment Bank helping Indian companies go public on SME and Main Board. We pair sector bankers with proprietary analytics for readiness, pricing, bookbuilding, listing, and post-IPO investor relations

What exactly do you do?

Three things end to end:
1) Source – eligibility, Demand Thesis (cohort view), teach-ins.

2) Diligence – Readiness Scan, data room, DRHP/RHP with auditors, counsel, and the Lead Manager.

3) List – price-band work, bookbuilding and allocation with Registrar/RTA, listing day and 30/90-day investor relations

Who is your merchant banking partner?

We execute IPOs with Narnolia as Category-I Merchant Banker (Lead Manager). S45 runs AI-led readiness, demand mapping, pricing support, and after-market investor relations

Which sectors do you cover?

Aerospace & Defence, Automotive, Chemicals, Consumer, Energy, Financial Services, Healthcare, Industrials, Technology, Agriculture, Education, and Hospitality. Each has bankers with India-specific operating and regulatory depth

What does the IPO process involve and how long does it take?

Pre-filing readiness → DRHP (SEBI) → RHP → pricing & bookbuilding (or fixed-price where applicable) → allotment with Registrar/RTA (ASBA/UPI) → listing (NSDL/CDSL) → post-IPO IR.

For SME, market maker coordination applies. Main Board is typically 6–12 months from engagement to listing, depending on audit readiness, SEBI observations, and market conditions. SME timelines can be as short as 2–3 months. We map a realistic calendar for your current state

How do you determine pricing and who are the key investor categories?

We build a valuation range using sector comps and cash-flow methods, then refine it with pre-IPO soundings and demand during the bookbuild. We do not guarantee a price or allocation. Indian IPOs allocate to QIBs (institutions), NIIs/HNIs (larger-ticket applicants), and Retail. Anchor investors may participate before the issue opens, per rules.

What are SEBI's core disclosure needs and what if we are not IPO-ready yet?

SEBI requires three years of audited financials, risk factors, related-party transactions, promoter details, use of proceeds, material contracts, and litigation. All SEBI observations must be addressed before the RHP. If you are not ready, we run a Readiness Scan and give a clear plan covering governance, disclosures, board independence, controls, and investor messaging. Many teams work with us 12–18 months before filing.

How does S45 charge and what about investor introductions?

A retainer for readiness and filing work plus milestone-linked fees tied to issue execution. Terms are discussed upfront and documented in the engagement letter. Investor previews are cohort-level only before mandate. Investor identities are shared after NDA or mandate, and outreach is coordinated with the Lead Manager.

Do you coordinate market makers for SME and support post-listing IR??

Yes. For eligible SME issues we shortlist market makers, align obligations, and integrate this into the post-listing liquidity plan. We also set an investor relations calendar, prepare earnings materials, target investors, and coordinate with analysts for coverage and liquidity over the first 30/90 days and beyond.

Do you guarantee timelines, pricing, or allotment?

No. Outcomes depend on SEBI review, market conditions, and investor demand. Our job is to prepare you thoroughly, map demand, and execute with discipline

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