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.
[ 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
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
CTA