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200+ Prospectus Drafted, Faster SEBI Approval

DRHP & RHP Preparation for SEBI-Compliant IPO Filing

Institutional-grade DRHP & RHP preparation for Mainboard and SME IPOs. Our team combines an in-depth understanding of SEBI ICDR Regulations with strong investor-focused drafting to support a smooth review process & timely approvals across 200+ mandates.

DRHP Drafting RHP Preparation SEBI Filing Support Risk Management MD&A Stock Exchange Coordination
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 Rated 4.8/5  ·  10,000+ Clients  ·  No Spam
200+
Prospectus Drafted
95%
First-time SEBI Approval
6-10
Week Drafting Window
Rs. 2.5 Lakh Crores
Capital Raised via Our DRHPs
200+ DRHPs Completed
95% First-Try SEBI Approval
6-10 Weeks Delivery
500+ IPO Professionals
4.8/5 Client Rating

Serious about Going Public? Prioritize DRHP Preparation Now

The Draft Red Herring Prospectus forms a backbone for IPO evaluation under SEBI’s determined process. Any non-compliance with the DRHP documentation can lead to multiple rounds of SEBI observations, extended timeframes, and higher costs. Ensure proper DRHP preparation to support efficient IPO execution in compliance with the SEBI ICDR Regulations.

Start Your DRHP Preparation Today
200+
DRHPs Drafted
 
95%
First-Time Approval
 
6 to 10 Weeks
Delivery Timeline
 
Rs. 2.5 Lakhs Crore
Capital Raised
 

What are DRHP & RHP in an Indian IPO?

DRHP, which stands for Draft Red Herring Prospectus, is a primary document filed by an issuer company filing with SEBI before a public offering. In India, it is a publicly available formal document providing information about the business, its financials, risk factors, use of proceeds, and offer structure. Upon submission to SEBI, this comprehensive document is sent for evaluation to see if the requisite disclosures were made directly before filing the final offer.

RHP, which stands for Red Herring Prospectus, is an enhanced version of DRHP. This prospectus is filed after incorporating the SEBI observations, including details such as IPO dates, prices, as well as up-to-date financial data. It simply serves as a final prospectus during the book-building process, providing relevant and up-to-date information about the offering.

Connect with our team of experts delivering a structured, compliant, and investor-focused DRHP for a clear, accurate, and ever-ready regulatory review.

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Core Services

Our DRHP & RHP Services

End-to-end IPO prospectus preparation services covering Draft Red Herring Prospectus and Red Herring Prospectus for Mainboard and SME IPOs.

01

DRHP Drafting & Structuring

Start preparing our Draft Red Herring Prospectus in compliance with the SEBI ICDR requirements and disclosure standards.

  • Business Overview & Company Background
  • Objects of the Issue & Fund Utilisation
  • Capital Structure & Shareholding Pattern
  • Industry Analysis & Competitive Positioning
02

Business Narrative Development

Connect with our experts for a clear, consistent, and investor-friendly narrative development, representing the company’s strengths and growth strategy.

  • Business Model Articulation
  • Revenue Streams & Operating Model
  • Growth & Expansion Strategy
  • Get Competitive Benefits
03

Risk Factors Disclosures

Ensure comprehensive identification and drafting of risk factors in compliance with SEBI requirements to support transparent disclosures.

  • Business & Operational Risk Identification
  • Industry & Regulatory Risks
  • Financial Risk
  • Outstanding Litigation & Contingent Liabilities
04

MD&A Financial Analysis

Preparation of the Management Discussion & Analysis (MD&A) section with a focus on clarity, consistency, and regulatory alignment.

  • Segment-wise Performance Analysis
  • Year-on-Year Comparison & Key Metrics
  • Working Capital Explanation
  • Cash Flow Analysis Narrative
05

SEBI Filing & Observation Response

Get assistance with DRHP filing and coordination for addressing SEBI observations during the review process.

  • SEBI Filing Support & Documentation
  • Coordination with Stock Exchanges
  • SEBI Observation Review & Analysis
  • Response Drafting & Resubmission Support
06

DRHP Compliance Review

Independent review of DRHPs prepared by third parties to assess readiness prior to filing.

  • Detailed Compliance Checklist Review
  • Gap Identification & Remediation Support
  • Coordination with Legal Advisors
  • Alignment with Merchant Bankers
Key Benefits

Why Companies Choose Enterslice for DRHP Preparation?

Experience-driven IPO documentation support for DRHP preparation with a focus on accuracy, regulatory alignment, and structured execution.

100+ IPO Documentation Engagement

We hold experience in supporting 100+ DRHP and RHP drafting and review assignments across sectors, including Mainboard & SME IPOs.

Investor-Grade Narrative

Drafting approach that presents business models, financials, and growth strategies in a clear and structured manner for better investor understanding.

Defined Timelines & Execution

We provide a structured project management with milestone-based delivery timelines, depending on business complexity and the readiness of information.

Multi-Discipline Team

Each DRHP is supported with a multi-disciplinary team comprising legal experts, chartered accountants, and financial specialists.

Merchant Banker Alignment

We work seamlessly with your appointed merchant banker — coordinating SEBI filings, exchange approvals, and investor documentation with zero friction.

3-Way Coordination Model

With our 3-way coordination model, we help establish partnerships between companies, merchant bankers, and legal advisors.

Valuation-Optimized Disclosure

All DRHPs are prepared with a strong emphasis on regulatory alignment, consistency, and transparency in financial and business disclosures.

FAQs

Frequently Asked Questions on DRHP & RHP Preparation

Common questions about IPO prospectus preparation and SEBI filing in India.

DRHP, which stands for Draft Red Herring Prospectus, is a primary document filed with SEBI for regulatory review, containing high-level business and financial details but no price information. However, RHP, which stands for Red Herring Prospectus, is an updated, SEBI-approved version filed later, which includes the price band, issue size, and finalized disclosures for investors.

It usually takes around 30 to 45 business days for SEBI to review observations for an SME IPO, and a timespan of around 30 to 75 business days for a Mainboard IPO from the date of filing. However, in case if SEBI raises material deficiencies, the clock resets and a high-quality DRHP with accurate disclosures receives observations at the lower end of the timeline.

The list of core documents needed to prepare for a DRHP in India includes the audited financial statements of the last 3 to 5 years, restated financials, corporate constitutional documents (MOA/ AOA), board/ shareholder resolutions, material contracts, legal compliance reports, property titles, director KYC, intellectual property registrations, and consent from intermediaries.

Yes, our experts at Enterslice can review your existing DRHP documents, along with expert services for drafting, regulatory compliance, and advisory of SME IPOs. Their support not only ensures SEBI compliance, but also supports the listing on the BSE/ NSE stock exchange.

Preparation of a DRHP generally costs between Rs. 25 lakhs and Rs. 45 lakhs in India, which is primarily driven by merchant banker fees, legal counsel, and auditor fees. For small and medium enterprises, these fees are part of the broader legal/regulatory costs, whereas Mainboard IPOs incur significantly higher fees.

Yes, Enterslice helps businesses connect with an independent professional, rather than acting as a traditional law firm collaborating with a client’s specific, separate service providers. However, they also provide comprehensive regulatory compliance, legal, and licensing support, including specialized services for merchant bankers, which can complement existing professional relationships.

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