🎓 ipowork IPO Associate Program (IAP) · Cohort 2025

World's Elite Finance Careerss — India's IPO Insider Program

A structured 12-month upskilling program for CA Final, CS Final and MBA aspirants. Build deep IPO expertise, work on live deals, and become a paid ipowork certified partner.

🕐 6-8 hrs/week Self-paced

💰 Earn up to ₹5L+ on a single deal

📜 ICAI/ICSI aligned CPE hours

🎓 Apply for Cohort 2025 → 📱 WhatsApp Us

Only 50 seats per cohort · Applications reviewed within 48 hrs

Your 12-Month Journey

Foundation · Months 1–3

SEBI ICDR, IPO process, financial reading, eligibility

🔓 Unlock: Work on live deals · Build pipeline

Practitioner · Months 4–6

Due diligence, compliance gaps, DRHP drafting basics

🔓 Unlock: Deal intro ₹50K + Mandate ₹50K milestones

Deal Sourcing · Months 7–9

Pitch skills, client engagement, deal identification

🔓 Unlock: DRHP filing milestone — ₹1,00,000

Specialist · Months 10–12

Valuation, MB negotiation, live deal support

🏆 After Listing — ₹3,00,000 · Total ₹5L per deal

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Important Disclaimer: This program is an educational and professional development initiative. ipowork does not guarantee employment, deal flow, income or certification outcomes. Earnings from deal sourcing are variable, contingent on client engagement, market conditions and individual effort, and are paid only after ipowork receives payment from the client or merchant banker. All fee splits are subject to a written Associate Agreement signed at enrollment. This program is not a registered investment advisor, SEBI-registered intermediary, or a course approved by ICAI/ICSI for mandatory CPE credits (CPE eligibility is subject to respective body approvals). ipowork reserves the right to modify program structure, fees and commission rates with 30 days' notice. Participation constitutes acceptance of the Associate Agreement and ipowork's Terms of Service.

Who Should Apply

Built for Three Types of People

If you're in the middle of your professional journey and want to build a high-value specialisation — this program is designed around your schedule.

📊

CA Final — Articleship

Chartered Accountants

CA Final (both groups) cleared or appearing
Currently in articleship (any Big4 / mid-tier / boutique)
Access to company financials and client books
Interested in capital markets as a career
6-8 free hours per week (weekends/evenings)

Why you're valuable: You see the books of 50–100 companies during articleship. Every client is a potential IPO candidate.

⚖️

CS Final — Training

Company Secretaries

CS Final cleared or in final stage
Doing practical training at a company or firm
Knowledge of MCA, ROC, corporate governance
Interested in SEBI, capital markets, LODR
Willing to network with promoters and MBs

Why you're valuable: You handle board minutes, secretarial audits and ROC filings — the exact compliance backbone every IPO company must fix.

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MBA Aspirant — CAT 80%ile

Future Finance Leaders

CAT score ~80 percentile (or equivalent GMAT/XAT)
Targeting finance/IB at Tier-2 MBA or improving score
Commerce/finance graduation background preferred
Wants real capital markets experience before MBA
Ambitious about investment banking / PE / VC career

Why you're valuable: Real deal experience and a certification makes your MBA finance SOP and IB interviews stand out from 1000 identical profiles.

Full Curriculum

4 Phases · 24 Modules · 12 Months

Each phase unlocks a new earning level. Self-paced video modules with AI-assisted Q&A, case studies, and live monthly clinics with senior bankers.

Foundation — The IPO Universe

Months 1–3 · 18 hours · 6 modules

Beginner

Module 1.1

India's IPO Ecosystem

SEBI, NSE, BSE, DRHP, RHP, listing process · SME vs Main Board · Who does what

Module 1.2

SEBI ICDR 2018 — Deep Dive

Eligibility §26(1) and §26(2) · Promoter lock-in · Pricing rules · Key regulations CA/CS must know

Module 1.3

Reading Financials for IPO

Revenue quality · EBITDA vs PAT · Working capital · Ind AS vs IGAAP · Red flags checklist

Module 1.4

IPO Eligibility Assessment

Running the AIRA Score · 16-parameter framework · How to pitch a score to a client

Module 1.5

Corporate Governance Basics

Board composition · Statutory audit · ROC filings AOC-4, MGT-7 · Common gaps in SME companies

Module 1.6

Case Study: SME IPO End-to-End

Real anonymised case — from AIRA score to listing day · What went wrong, what worked

🔓

Complete Phase 1 to unlock

Run AIRA Scores · Build client pipeline · Prepare for DRHP milestone

Practitioner — Due Diligence & Compliance

Months 4–6 · 24 hours · 7 modules

Intermediate

Module 2.1

Pre-IPO Tax Due Diligence

GST exposure · TDS defaults · Transfer pricing · Pending assessments · What SEBI looks for

Module 2.2

Compliance Gap Analysis

Running the ipowork Gap Analyzer · Writing gap reports · Priority fix roadmap for clients

Module 2.3

RPT Identification & Cleanup

Related party transactions · Promoter loans · How to document and disclose in DRHP

Module 2.4

DRHP Structure & Drafting

All 20 sections of DRHP · Risk factors writing · MD&A drafting · Financial section preparation

Module 2.5

SEBI Filing Process

Observation letter · SEBI queries · How to respond · Timeline from filing to IPO open

Module 2.6

AIDA Document Review — Live

Using ipowork AIDA tool · Upload client docs · Interpret AI output · Write advisory note

Module 2.7

Case Study: Compliance Cleanup

Real case — company with 5 critical gaps · How they were resolved in 8 months before filing

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Complete Phase 2 to unlock

DRHP filing milestone unlocked — ₹50,000 on first DRHP filed

Deal Sourcing — Find & Pitch IPO Mandates

Months 7–9 · 20 hours · 6 modules

Advanced

Module 3.1

Identifying IPO-Ready Companies

Revenue, profit, age criteria · How to spot candidates in your articleship client base

Module 3.2

The Promoter Conversation

How to approach promoters · Objection handling · Common misconceptions about IPOs

Module 3.3

Running AIRA for a Client

End-to-end client assessment · Presenting score · Next steps conversation · Referral to ipowork

Module 3.4

MB Matchmaking Process

How to shortlist MBs for a client · Introduction process · Your role as deal facilitator

Module 3.5

Deal Documentation & CRM

Using ipowork CRM · Deal stages · Activity logging · Commission claim process

Module 3.6

Live Deal Clinic

Monthly Zoom with senior SEBI-registered MB · Present your live deal · Get feedback

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Complete Phase 3 to unlock

Mandate milestone unlocked — ₹1,50,000 when deal mandate is signed

Specialist — Valuation, MB Negotiation & Mandates

Months 10–12 · 24 hours · 5 modules

Expert

Module 4.1

IPO Valuation Methods

EV/EBITDA, P/E, P/S multiples · Price band determination · Comparables · Anchor investor strategy

Module 4.2

Merchant Banker Negotiation

MB fee structures · Retainer vs success fee · How to advise a client on MB selection

Module 4.3

Live Deal Support

Working alongside ipowork on an active mandate · Document collection · Checklist tracking

Module 4.4

Post-Listing Compliance

SEBI LODR obligations · Quarterly disclosures · Insider trading policy · Your ongoing role

Module 4.5

Certification Project

Submit a full IPO Readiness Assessment for a real or hypothetical company · Reviewed by ipowork team

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Complete Phase 4 → Become

Listing milestone — ₹3,00,000 on listing day · ₹5 Lakh total per deal

How You Earn — Fee Distribution

₹25L Deal = ₹5L For You (Minimum)

ipowork earns minimum ₹25L on a successful IPO listing. Your 20% share = ₹5L per deal, paid in three milestones: 10% on mandate, 30% on DRHP filing, 60% after listing. No payment on introduction.

👀

Spot a Candidate

You identify a client company that looks IPO-ready — ₹15Cr+ revenue, 3 years old, profitable. Most articles see 20–50 such companies.

📊

Run AIRA Score

Use ipowork to run a free AIRA Score for the company. Takes 3 minutes. Share the report with the promoter.

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Start the Conversation

Present the score to the promoter. Explain the gap report. Use your Phase 3 pitch skills to guide them toward IPO preparation.

🤝

Refer to ipowork

Introduce the company to ipowork. Log the deal in the portal. ipowork handles MB matching, DRHP support and execution.

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Earn Your Commission

₹50K on introduction · ₹50K on mandate · ₹1L on DRHP · ₹3L on listing. Total ₹5 Lakh. All paid after ipowork receives from client.

How You Earn

₹25 Lakh Per Deal — Split Across 3 Milestones

ipowork minimum deal fee is ₹25 Lakh per mandate. No payment on deal introduction — your reward is tied to execution and results.

Total deal fee: ₹25 Lakh · Your share: 20% = ₹5 Lakh · Paid in 3 tranches

Deal Introduction

₹0

No payment on referral. Value is created through execution — not just a WhatsApp introduction.

Deal Introduction — 10%

₹50K

ipowork receives ₹2.5L

Paid when client formally engages ipowork after your referral.

Mandate Signing — 10%

₹50K

ipowork receives ₹2.5L

Paid when MB mandate is signed. Both milestones together = ₹1L.

DRHP Filed — 20%

₹1L

ipowork receives ₹5L

Paid when DRHP filed with SEBI. Largest pre-listing tranche.

After Listing — 60%

₹3L

ipowork receives ₹15L

Paid on listing day after IPO proceeds received. Biggest payout.

Your total per successful deal

₹50K + ₹1.5L + ₹3L · Paid in 3 tranches · After TDS deduction

₹5,00,000

Your deal sourcing pipeline — how a client company becomes ₹5 Lakh:

👀

Spot a Candidate

Identify a client company that looks IPO-ready — ₹15Cr+ revenue, 3 years, profitable. CA articles see 20–50 such companies.

📊

Run AIRA Score

Use ipowork to run a free AIRA Score. Present the 16-parameter report to the promoter. Show them the gaps.

💬

Start the Conversation

Present the score. Use your Phase 3 pitch skills. Guide the promoter toward IPO preparation with ipowork.

🤝

Introduce to ipowork

Log the deal in the portal. ipowork handles MB matching, DRHP support, SEBI filing and execution.

💰

Earn ₹5 Lakh

₹50K on DRHP filing · ₹1.5L on mandate · ₹3L on listing day. Total ₹5 Lakh. One deal pays more than most CA articles earn in a year.

World's Elite Finance Careerss — India's IPO Insider Program

Built for Three Types of People

4 Phases · 24 Modules · 12 Months

₹25L Deal = ₹5L For You (Minimum)

₹25 Lakh Per Deal — Split Across 3 Milestones

ipowork Certified IPO Associate

Join Cohort 2025