Eligibility Check AIRA Score Case Studies Intelligence 📚 IPO Academy 🧮 Free Tools Ecosystem
Log In 📊 Free AIRA Score →
✦ 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
✅ Free — No Login Required

SME IPO Eligibility Calculator

5 quick questions. Get an instant eligibility probability — the same criteria merchant bankers check first.

1. Years of Business Operations
2. Annual Revenue (Latest Year)
3. Net Profit (Last Year)
4. Net Worth of Company
5. Promoter Shareholding (Current)
Answer the 5 questions above for your instant eligibility probability →
Assessment based on indicative SME listing norms of BSE SME and NSE Emerge platforms. Not a legal opinion.
Full 8-input calculator with IPO Cost Estimator, Timeline & Readiness Checklist →
🤖 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.

▶
How AIRA Works — 90 Second Demo
See how AIRA scores a company across 8 dimensions and generates a gap report in under 3 minutes.
Try AIRA Free →
⭐
AIRA IPO Readiness Test
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

🔄 Simple 4-Step Process

How ipowork Works

From first diagnosis to listing day — one platform guides your entire IPO journey.

📊
STEP 01
Get Your AIRA Score
AI analyses 8 dimensions — financials, governance, compliance, promoters. Score in minutes.
🔍
STEP 02
Fix Your Gaps
AIRA gap report identifies exact compliance, financial and governance issues blocking your IPO.
🏦
STEP 03
Match with Bankers
AI matches your profile with SEBI-registered merchant bankers based on sector, size and AIRA score.
🎉
STEP 04
List on Exchange
Track DRHP milestones, SEBI approvals and listing timeline in one dashboard until IPO day.
Why 80% of SMEs Are Not IPO Ready — The 4 Gaps ipowork Solves
📉
Financial Gaps
Inconsistent revenue, low EBITDA, unaudited statements — SEBI flags these immediately.
⚖️
Compliance Gaps
Pending ROC filings, tax dues, regulatory orders — common and fixable with a 6–12 month plan.
🏢
Governance Gaps
No independent directors, missing board committees, promoter loans — all SEBI LODR requirements.
🗺️
No Roadmap
Most promoters start 2–3 years too late. ipowork gives a precise month-by-month IPO plan.
📁 IPO Preparation Results

What AIRA Found — and Fixed

Illustrative examples of how ipowork's AIRA engine transforms IPO readiness across sectors.

⚙️
Auto Components Manufacturer
Maharashtra · Revenue ₹65 Cr · NSE Emerge
AIRA Before
54
AIRA After
71
Key Gaps Found
No independent directors on board
3-year financial restatement pending
Promoter loan of ₹2.4 Cr outstanding
Result
IPO timeline reduced from 30 months → 18 months. Listed on NSE Emerge in Q4.
💊
Specialty Pharma Company
Gujarat · Revenue ₹48 Cr · BSE SME
AIRA Before
47
AIRA After
68
Key Gaps Found
Pollution Control Board NOC missing
TDS defaults in FY22 — unresolved
Customer concentration: 1 buyer = 61%
Result
Matched with 3 merchant bankers in 48 hours. DRHP filed within 14 months.
🏗️
B2B SaaS Platform
Pune · Revenue ₹32 Cr · NSE Emerge
AIRA Before
61
AIRA After
79
Key Gaps Found
ESOP scheme undocumented — 4 grants
Revenue recognition policy non-standard
MIS upgrade required for quarterly reporting
Result
AIRA score crossed 78 in 11 months. Now tracking Main Board eligibility.
Illustrative case studies based on typical SME IPO preparation patterns · Individual results vary · AIRA scores are indicative
🗺️ 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
💬 Early Platform Users

What Promoters Are Saying

★★★★★
"The AIRA score showed us gaps we didn't even know existed — our promoter loan was a deal-breaker that would have killed our IPO at DRHP stage. We fixed it in 4 months."
R
Rajesh Mehta
MD, Auto Parts Manufacturer · Gujarat
★★★★★
"I used to think an IPO was 2–3 years away. After the AIRA assessment, I realised I was actually 14 months away. The gap report was precise — every issue with a fix timeline."
P
Priya Nair
CEO, Specialty Chemicals · Maharashtra
★★★★★
"As a merchant banker, finding pre-screened issuers was a huge pain. ipowork's AIRA scoring saves us 2–3 weeks of preliminary due diligence on every mandate we evaluate."
S
Suresh Agarwal
VP — Investments, SEBI Cat. I MB · Mumbai
Illustrative testimonials · Replace with verified user quotes as platform grows
✅ 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
🏛️ 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? →
📊 ipowork National IPO Readiness Index
Sector IPO Readiness Leaderboard
Average AIRA scores across platform — updated quarterly
See Your Sector Score →
Healthcare & Pharma
72
↑ Highest readiness — strong MIS and audit culture
Technology & SaaS
71
↑ Good governance but revenue predictability gaps
Manufacturing
68
→ Strong fundamentals, compliance backlog common
Consumer Brands / FMCG
65
→ Growing — RPT and related-party issues frequent
Infrastructure & EPC
58
↓ Land title and regulatory clearance key gaps
Financial Services
54
↓ RBI/SEBI dual oversight adds compliance burden
Score out of 100 · Avg across platform companies · SME IPO threshold: 65 · Main Board: 78
SME Ready ≥ 65 Main Board ≥ 78
🏛️ 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 →
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 →
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 →
🧮 Free for All Companies

4 Free IPO Tools

No login. No cost. Instant answers to the 4 questions every promoter asks first.

✅
SME IPO Eligibility Calculator
Enter revenue, net worth and PAT — instantly see if you qualify for NSE Emerge, BSE SME or Main Board under SEBI ICDR.
Check Eligibility →
💰
IPO Cost Estimator
Estimate total IPO cost — MB fee, legal, audit, exchange, SEBI charges — for your issue size and track. Itemised breakdown.
Estimate Costs →
📅
IPO Timeline Guide
13-stage interactive timeline from diagnosis to listing day. Filter by SME or Main Board. Realistic durations at every step.
Plan My Timeline →
☑️
IPO Readiness Checklist
52-point checklist across Financial, Governance, Legal, Compliance and Operations. Tick off items. Track your progress live.
Start Checklist →
🧮 All 4 Interactive Tools → 📚 IPO Academy — Guides & Articles →
🏦 Built for India's IPO Ecosystem

Who Uses ipowork

The full IPO value chain — in one platform.

🏢
SME Promoters
Companies planning IPO
🏦
Merchant Bankers
SEBI-registered Category I
📋
Chartered Accountants
Audit, restatement, IndAS
⚖️
IPO Legal Advisors
DRHP, legal opinions
🏛️
PE / VC Funds
Pre-IPO deal sourcing
🔬
Research Analysts
IPO pipeline intelligence
Active Merchant Bankers on Platform
Hem Securities Narnolia Financial GYR Capital Unistone Capital Vivro Financial Beeline Capital Expert Global Pantomath Capital IIFL Securities +280 more registered
All SEBI Category I registered · Illustrative list — replace with verified partners
🚀 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
    Tap "Add to Home Screen"
  • 4
    Tap Add ✅
📊
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