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Guides to Indian offer documents
How diligence teams read a DRHP, RHP or NCD prospectus: which sections matter, which disclosures are warning signs, and what to ask. Written by a CFO who has taken a company through a main-board IPO.
How to read a DRHP without reading all 400 pages
A practical, section-by-section method for reading a Draft Red Herring Prospectus (DRHP) for an Indian IPO: where to start, what to skip and which pages decide the issue.
ChecklistDRHP red flags: a checklist for Indian IPO documents
The warning signs diligence teams look for in a DRHP or RHP: auditor qualifications, promoter pledges, OFS-heavy issues, customer concentration, litigation, defaults and more, with where to find each.
IPO basicsDRHP vs RHP vs Prospectus: the three IPO documents explained
The difference between a Draft Red Herring Prospectus, a Red Herring Prospectus and the final Prospectus in an Indian IPO: who files each, when, and what changes between them.
Use of proceedsOffer for sale vs fresh issue: who gets your IPO money?
How to tell from a DRHP whether IPO money goes to the company (fresh issue) or to selling shareholders (offer for sale), and what objects of the offer and general corporate purposes reveal.
PromotersPromoter pledge in an IPO: what it means for investors
What a promoter share pledge is, where a DRHP discloses pledged and encumbered shares, how pledges interact with IPO lock-in, and the questions to ask before you subscribe.
Debt issuesHow to analyse an NCD prospectus before you invest
A checklist for reading a public NCD shelf prospectus or information memorandum in India: credit rating and outlook, security cover, covenants, debenture trustee, asset quality and repayment history.
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Upload a DRHP, RHP, NCD prospectus, AIF PPM or annual report. The scan runs in your browser, nothing is uploaded, and every finding is cited to a page.
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