Going public is one of the most exciting — and intimidating — moves a company can make. On the surface, it looks like a financial decision. But really, it’s a signal. It tells the world that your business is ready to step into the spotlight, play by the rules, and scale with full transparency.
For most founders, it starts with a dream. A vision of ringing that opening bell. Of seeing your stock ticker go live. But before that day ever comes, there’s one question you need to ask — not “how do I list?” — but “am I ready to list?”
That’s where many conversations at MUDS begin. Founders come to us with momentum, traction, and a big vision. But they’re unsure where they stand on eligibility. The truth? That’s normal. And that’s exactly what we’re here for.
What Exactly Is an SME IPO?
If you’re in your early growth phase and don’t meet the rigorous criteria for the mainboard, you’re not out of the game. That’s what the SME IPO platform was built for — to give credible, fast-growing businesses a way to access capital markets on a more realistic scale.
It’s designed to be accessible. You don’t need ₹100 crore in revenue or thousands of shareholders. What you do need is a solid business, clean books, and a real story of growth. If your financials are in order, your net worth is at least ₹1 crore, and you’ve been operating (or your promoters have relevant experience) for at least three years, you’re already on your way.
And if you’re wondering whether it’s worth it — here’s the thing. The SME platform offers fewer compliance burdens, faster processing, and just enough structure to prepare you for something bigger in the future.
And What About Mainboard IPOs?
For businesses that have already scaled and want to raise larger amounts, the Mainboard is the next step. But it’s not for everyone — and that’s okay.
To qualify here, your company should have a net worth of ₹1 crore sustained over three years, a pre-tax operating profit of ₹15 crore over any three of the past five years, and a post-issue paid-up capital of at least ₹10 crore. You’ll also need at least 1,000 public shareholders and a minimum of 25% of your equity held by the public after the listing.
Going mainboard means playing in the big leagues. It comes with deeper visibility, higher scrutiny, and ongoing obligations like quarterly reporting, governance reviews, and oversight from SEBI. For some companies, that’s the natural next step. For others, it may make more sense to build up to it gradually.
Not Just a Financial Move — A Strategic One
Here’s something we always tell founders: Listing is not just about the numbers. It’s about timing and alignment. You might qualify for both SME and Mainboard — but that doesn’t mean one is better than the other. The better question is, which one makes sense right now?
Are you raising to fuel a specific expansion plan? Do you need speed, or stability? Will your team be able to keep up with post-listing compliance? Are you prepared to tell your story to the public?
The SME path can be the ideal launchpad — giving your business public market experience without overwhelming you. Later, once you’ve grown and matured into it, migrating to the mainboard becomes a natural progression. It’s not about skipping steps — it’s about taking the right ones, at the right time.
As CS Shweta Gupta, our founder, often says — “An IPO isn’t a transaction. It’s a transformation. And no two journeys are ever the same.”
How Do You Actually Get There?
That’s where we come in. At MUDS, we’ve worked on IPOs across every industry — from small family-run firms to scale-ups becoming household names. And we’ve seen first-hand that no two companies approach it the same way.
We begin with a simple conversation. We look at where you are today — your financials, compliance records, structure, shareholding. From there, we help map out a plan: what platform you’re best suited for, what changes need to happen internally, and how we can position you to get SEBI approval without unnecessary delays.
We don’t just draft forms. We coordinate with merchant bankers, legal counsel, registrars, stock exchanges — and we stay involved even after listing to make sure your public company remains compliant and confident.
This isn’t a three-week project. It’s a journey — and we walk it with you.
What Your IPO Roadmap Might Look Like
If you’re even considering a listing in the next year, here’s what a typical journey looks like when we handle it:
We begin with an eligibility check. This helps you understand where you stand today, and how close you are to meeting platform requirements.
Once you’re ready, we help you prepare — convert shares to demat, clean up governance issues, pass necessary board resolutions, and get your DRHP (Draft Red Herring Prospectus) in order.
We work closely with merchant bankers to finalise valuations and pricing strategy, and we coordinate directly with SEBI and stock exchanges to keep the process moving.
When it’s time to market your IPO, we help craft your story — from investor FAQs to roadshow presentations.
Post-approval, we assist in share allotment, listing formalities, and help you build investor confidence right from day one of trading.
Final Thoughts
If you’re thinking of going public — even if it feels early — now is the right time to start preparing. Whether it’s six months away or two years down the line, becoming IPO-ready doesn’t happen overnight. It takes intention, structure, and support.
Listing your company is a bold move. But with the right guidance, it doesn’t have to be overwhelming. It can be empowering — a signal to your team, your investors, and your market that you’re here to play big, and play fair.
If you’re not sure which path is best, or if you just want to know how far you are from being IPO-eligible — we’re here. Let’s talk.
Let’s build your IPO journey together.
📞 Call: +91 9599653306
📩 Email: [email protected]
🌐 Visit: www.muds.co.in
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