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✦ India's IPO Preparation Operating System

Is Your Company
Ready for an IPO?

Take the free 3-minute AI IPO Readiness Assessment (AIRA).
Get your score, gap analysis, and a custom roadmap to listing — instantly.

📊 Start Free AIRA Test → See Sample Report
Used by SME promoters preparing for NSE Emerge, BSE SME & Main Board IPOs.  ·  No credit card required.
Companies testing IPO readiness today: 43
500+
Companies Analysed
₹3,000+ Cr
IPO Capital Assessed
19
AI Tools per Portal
15
Research Modules
Sample AIRA Report — Auto-generated in 3 min
🏆 AIRA IPO Readiness Report
AI Generated
Stellar Pharma Ltd.
Pharma · API Manufacturing · Maharashtra · Est. 2007
74
AIRA Score
SME IPO ELIGIBLE
NSE Emerge / BSE SME · AIRA ≥65 ✓
Financial Health
82
Promoter Quality
78
Governance
62
Legal & Compliance
56
Market Position
75
🤖 AI Recommendation
Appoint 2 Independent Directors immediately — current board has zero independence, blocking SEBI eligibility. Fix secretarial compliance (3 ROC filings overdue). Strengthen internal audit systems before DRHP filing.
STRONG FINANCIALS GOVERNANCE GAP COMPLIANCE RISK SME TRACK
IPO Timeline Estimate
18–24 months
Valuation Range
₹ 85–110 Cr
Recommended MB: Hem Securities · Narnolia · ...
Get your full report — free
📊 Get My AIRA Report →
⭐ India's First AI IPO Assessment

Your AIRA Score
in 3 Minutes. Free.

AIRA (AI IPO Readiness Assessment) gives you the exact same diagnostic a merchant banker runs before agreeing to lead your IPO — scored across 8 dimensions from 0 to 100.

📊
0–100 Score
Across 8 critical IPO dimensions
🎯
SME vs Main Board
Know your eligibility track instantly
⚠️
Gap Analysis
Every blocker identified with fix steps
📅
IPO Timeline
Realistic months-to-IPO estimate
💰
Valuation Range
AI-estimated IPO valuation band
🏦
MB Match
Top merchant banker recommendations
📊 Start Free AIRA Test →

No registration required to start · Full report in 3 minutes

90–100
IPO Ready Now
File Immediately
78–89
Main Board Eligible
NSE / BSE
65–77
SME IPO Eligible
NSE Emerge / BSE SME
0–64
Not Yet Ready
Fix gaps first
⚡ The IPO Readiness Problem

Why 80% of SMEs Are
Not IPO Ready

Most promoters approach merchant bankers 2–3 years too early — or arrive with problems that take years to fix. AIRA tells you exactly where you stand.

📊
Weak Financial Reporting
Poor MIS, delayed audits, qualified audit reports, revenue recognition issues — these red-flag every merchant banker instantly. SEBI requires 3 years of clean, restated financials.
Affects 73% of SME IPO aspirants
⚖️
Compliance Complexity
ROC filings overdue, secretarial compliance gaps, SEBI ICDR violations, missing statutory registers. Any litigation becomes an IPO red flag that triggers SEBI queries.
Top reason for DRHP rejection
🏢
Governance Weaknesses
No independent directors, family-dominated board, no audit committee, RPTs not at arm's-length, promoter pledge — investors penalise governance gaps with 20–40% valuation discount.
Average 3-year fix timeline
📈
No IPO Roadmap
No structured timeline, unclear when to convert to public company, no pre-IPO capital plan, no merchant banker engagement strategy. Promoters waste years without a clear path.
Solved by AIRA in 3 minutes

SME IPO vs Main Board — Know Your Track

Two very different paths. Your AIRA score tells you which one you qualify for.

NSE Emerge / BSE SME
SME IPO
NSE Emerge · BSE SME · AIRA ≥ 65
Revenue Range₹10 – ₹300 Cr
Issue Size₹10 – ₹200 Cr
Minimum PAT₹1 Cr (2 of 3 yrs)
Net Worth₹3 Cr+
AIRA Required65+
Timeline12–24 months
Market MakerMandatory
NSE / BSE Main Board
Main Board IPO
NSE · BSE · AIRA ≥ 78
Revenue Range₹300 Cr+
Issue Size₹300 Cr+ typical
Net Worth / PAT₹15 Cr / ₹15 Cr
Track Record3 yrs profitability
AIRA Required78+
Timeline18–36 months
DRHP FilingSEBI + Exchange
🤖 19 AI Tools for Issuers

AI Assistants That Prepare
Your Company for IPO

ipowork is not just a test — it is a complete IPO preparation system. 19 AI tools cover every dimension of readiness.

⭐
AIRA Score Engine
Full IPO readiness assessment across 8 dimensions. Voice + file upload. SME vs Main Board eligibility in 3 minutes.
FREE
🔍
Compliance Gap Analyzer
Scans ROC filings, secretarial compliance, SEBI ICDR checklist — flags every gap blocking your IPO with fix priorities.
FREE
📄
AIDA Document Review
AI reviews your financials, Board resolutions, MOA, AOA, shareholder agreements against SEBI ICDR requirements.
FREE
🏦
Merchant Banker Match
AI matches you with the right lead manager based on your sector, issue size, and exchange target. SME & Main Board.
FREE
💰
Valuation Intelligence
AI estimates IPO valuation range using sector peer multiples (EV/EBITDA, P/E, P/Sales). Anchor investor probability.
PRO
📅
IPO Roadmap Builder
Generates your custom 12–36 month IPO preparation plan — milestones, critical path, resource requirements.
PRO
👤
Promoter AI Advisor
Governance coaching for promoters — board structure, RPT remediation, pledge reduction strategy, succession planning.
PRO
Explore All 19 AI Tools →

8 tools free · 11 pro tools · Institutions get full research suite

🏛️ Capital & Market Intelligence

Find the Right Investors
Before Your IPO

Intelligence layer for promoters, merchant bankers and institutions. Know who's deploying capital, which sectors are hot, and where your IPO sits in the pipeline.

🏦
Top SME IPO Merchant Bankers
By volume FY24 · NSE Emerge + BSE SME
1
Hem Securities
Manufacturing · Pharma · ₹15–80 Cr
SME Leader
2
Narnolia Financial
IT · FMCG · ₹20–120 Cr
SME Leader
3
Shreni Shares
Auto · Engineering · ₹10–60 Cr
SME Active
4
Pantomath Capital
All sectors · ₹50–500 Cr
Main Board
5
IIFL Securities
Large cap · ₹300 Cr+
Main Board
💼
Active Pre-IPO Investors
PE/VC deploying capital in India SMEs
1
Motilal Oswal PE
Manufacturing · ₹30–200 Cr tickets
Pre-IPO PE
2
Tata Capital Growth
All sectors · ₹50–300 Cr
Pre-IPO PE
3
India SME Investments
SME focused · ₹5–50 Cr
SME Specialist
+ 200 more PE/VC/Family Offices in Intelligence Portal →
🔴 Live IPO Pipeline — India 2025
Preparing for IPO
520
Merchant Banker Appointed
192
DRHP Under Review
78
IPO Open / Launching Soon
31
Live pipeline intelligence · Updated daily · Full access in Intelligence Portal →
📊 Average AIRA Benchmark Score
All companies on ipowork
56
/100 average
Top 10% score82+
Main Board threshold78
SME IPO threshold65
Where does your company rank? →
🗺️ Your Path to Listing

The 6-Step
IPO Journey

90% of IPO preparation happens before DRHP. ipowork owns the full 36-month journey — from readiness diagnosis to listing day.

Step 01 · Months 1–3
IPO Readiness Diagnosis
Get AIRA score. Identify all gaps across financial, governance, compliance and market dimensions. Benchmark against peer companies.
3 minutes with ipowork
📊
🔧
Step 02 · Months 3–18
Gap Resolution & Preparation
Fix compliance, appoint independent directors, clean MIS, restructure group entities, improve EBITDA quality. AI tools guide every step.
Longest phase — start early
Step 03 · Months 12–24
Advisor Ecosystem Engagement
Appoint merchant banker, legal counsel, statutory auditor, company secretary. Pre-IPO capital raise if needed. PE/VC investor sourcing.
ipowork MB Matchmaking
🤝
📋
Step 04 · Months 18–30
DRHP Preparation & Filing
AIDA AI reviews every document against SEBI ICDR. Restated financials, due diligence, legal opinions. DRHP filed with SEBI + Exchange.
AIDA AI assists throughout
Step 05 · Months 30–36
SEBI Approval & IPO Launch
SEBI observations, RHP filing, roadshow, anchor investor allocation, price band finalisation. Book building. Subscription and allotment.
4–8 months to complete
🚀
🏆
Step 06 · Listing Day
IPO Listing & Beyond
Stock exchange listing. Investor relations, quarterly compliance, shareholder communication. ipowork continues as your compliance intelligence layer.
The goal — made achievable
📊 Start My IPO Journey →
📊 Industry Benchmarks

Where Does Your Company
Stack Up?

📈 Avg SME IPO — NSE Emerge / BSE SME
Revenue₹ 65–90 Cr
EBITDA Margin14–18%
PAT Margin8–12%
Issue Size₹ 20–60 Cr
EV/EBITDA Multiple8–14×
Listing Premium (avg)18–35%
Avg AIRA Score at Listing71
🏆 Avg Main Board IPO — NSE / BSE
Revenue₹ 350–800 Cr
EBITDA Margin16–22%
PAT Margin10–16%
Issue Size₹ 300 Cr – 2,000 Cr
EV/EBITDA Multiple15–28×
Listing Premium (avg)22–45%
Avg AIRA Score at Listing83
✅ Trusted by IPO Professionals

Trusted by Companies
Preparing for NSE & BSE Listings

🏢
SME Promoters
🏦
Merchant Bankers
💼
PE / VC Funds
🏛️
Institutional Investors
⚖️
CA & CS Firms
📊
IPO Advisors
500+
Companies analysed on AIRA
₹3,000+ Cr
IPO capital assessed
19
AI tools per issuer
3 min
Average AIRA assessment time
🏛️ Three Portals. One Platform.

Choose Your Role

Whether you're a promoter heading to IPO, a banker managing mandates, or an institution sourcing deals.

iw
🏢 For Companies & Promoters
Issuer Portal
AIRA Score, compliance gap analysis, AIDA document review, merchant banker matchmaking, valuation estimate and your full IPO roadmap — in one portal.
AIRA ScoreGap AnalysisAIDA ReviewMB MatchIPO Timeline19 AI Tools
📊 Open Issuer Portal → ⬇ Download HTML File
iw
🏦 For Merchant Bankers
MB Portal
Discover pre-IPO mandates before competition. AI pipeline scoring, due diligence automation, sector intelligence and mandate CRM for SME and Main Board.
Pipeline ScoutAIRA ScoringDD ChecklistSector Intel
🏦 Open MB Portal → ⬇ Download HTML File
iw
🏛️ For Institutions & Investors
Intelligence Portal
Live IPO radar, AIRA monitoring, 8 AI research assistants, watchlist alerts, and AI-powered company intelligence inside the portal.
IPO Radar8 AI AssistantsWatchlist
🏛️ Open Intelligence Portal → ⬇ Download HTML File
🚀 Start Your IPO Journey Today

Your AIRA Score
is 3 Minutes Away.

Join 500+ companies that have already checked their IPO readiness on ipowork. Free. No registration. No credit card.

📊 Check My AIRA Score — Free →
✓ Takes 3 minutes ✓ No login required to start ✓ SME IPO & Main Board ✓ AI-powered report instantly
📱 Mobile App — No App Store Required

Install on Your Phone

🤖Android — Chrome
  • 1
    Open any portal link below
  • 2
    Tap ⋮ menu (top right)
  • 3
    Tap "Add to Home screen"
  • 4
    Tap Add ✅
🍎iPhone — Safari
  • 1
    Open any portal in Safari
  • 2
    Tap Share ↑ (bottom bar)
  • 3
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  • 4
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📊
Issuer Portal
AIRA Score · 19 AI Tools · IPO Roadmap
Open⬇ Download
🏦
MB Portal
Pipeline Scout · Deal Origination
Open⬇ Download
🏛️
Intelligence Portal
IPO Radar · 8 AI Assistants · Deep Research
Open⬇ Download