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Mainboard IPO Listing

Mainboard IPO Listing: India’s No.1 Capital Markets Advisory Platform

Get end-to-end Mainboard IPO advisory support by Enterslice. 100% IPO mandates supported advisory for listings on the National Stock Exchange of India and BSE Limited, including SEBI ICDR compliance, DRHP/RHP drafting, merchant banker coordination, and book-building assistance.

SEBI ICDR Compliant
NSE & BSE Listed
Rs. 1.5 Lakh Crore+ Capital Raised Annually
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 Rated 4.8/5  ·  10,000+ Clients  ·  No Spam
100+ Mainboard IPOs
SEBI ICDR Registered
95% SEBI Approval Rate
Rs. 1.5 Lakh Cr+ Capital Raised Annually
Rated 4.8/5
India's IPO Market

India’s NSE & BSE Mainboard IPO Market Expected to Sustain Rs. 1.5 Lakh Crore Momentum in FY 2026-27

In the FY 2026-27, the National Stock Exchange of India and the Bombay Stock Exchange IPO market are expected to remain solid and strong, with 100+ companies likely to raise around 1.5 lakh crore. This process is covered with Securities and Exchange Board of India compliance, DRHP/RHP filing, and merchant banker support, usually taking 8–12 months.

Companies listed on the Mainboard IPO help to attract institutional investors, improve visibility, and increase liquidity.

Check Your IPO Readiness
100+
Mainboard IPOs Annually Listed on NSE & BSE
Rs. 1.5 Lakh Crore
Capital raised Annually Through Mainboard IPOs
8 to 12 Months
Typical Mainboard IPO Timeline from Mandate to Listing
100+
Companies Supported with End-to-End IPO Advisory

What is the Mainboard IPO Listing in India?

Mainboard IPO listings of established companies on the NSE (National Stock Exchange) and the BSE (Bombay Stock Exchange) in India enable high-volume trading, with a book-building process accessible to all investor types. It is reserved for corporations with a minimum post issue paid-up capital of Rs. 10 crore and a 3-year profitability track record. Mainboard IPO delivers the broadest investor base, deepest trading liquidity, and maximum market visibility.

The process for IPO Mainboard takes around 8 to 12 months, starting from ICDR readiness assessment to listing on the NSE and BSE as per the SEBI ICDR Regulations. Companies listed on the Mainboard get access to institutional investors (FII/FDI), potential MSCI/FTSE index inclusion (subject to eligibility), wider analyst coverage, and strong secondary market liquidity.

Key Eligibility Threshold under SEBI (ICDR) Regulations, 2018 Net tangible assets of at least Rs. 3 crores in each of the preceding three years, a net worth of at least Rs. 1 crore in each of the preceding three years, and a minimum average pre-tax operating profit of Rs. 15 crores in at least three of the last 5 years. For non-profitable companies, a QIB route is mandatory, requiring 75% allotment to qualified institutional buyers.

SEBI ICDR Eligibility Criteria

  • Net Tangible Assets: ≥ Rs. 3 crores in each of the 3 preceding full financial years
  • Net Worth: ≥ Rs. 1 crore in each of the preceding 3 full financial years
  • Profitability Route: Average pre-tax operating profit of at least Rs. 15 Cr during the last 3 financial years
  • Paid-Up Issue Capital: ≥ Rs. 10 crores (Note: SME platforms have different, lower thresholds, often starting with post-issue capital)
  • Alternative Route (QIB): Allocate at least 75% of the net offer to QIBs in accordance with the SEBI ICDR norms
  • Promoter Lock-In: 18 months on 20% post-issue capital; 6 months on the remaining holding
IPO QUICK REFERENCE
Minimum Paid-Up CapitalRs. 10 crores+
IPO Timeline8 to 12 months
SEBI ICDR RouteProfitability/ QIB
Public Offer Size≥ 25% of the post-issue
ExchangesNSE or BSE
DRHP FilingWith SEBI & Exchange
Book BuildingQIB. HNI. Retail
Listing Day T+6From IPO Close
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Our Services

Our Mainboard IPO Advisory Services

Our team of experts provides end-to-end mainboard IPO advisory services, from IPO readiness and DRHP drafting to book building and post-listing compliance.

SEBI ICDR Readiness Assessment

It is a gap analysis of a company against SEBI eligibility criteria, including financials, capital structure, and promoter/ shareholding review, along with a detailed roadmap for readiness.

  • ICDR Eligibility Assessment (Profitability/ QIB Route)
  • Restatement of Financials as per Applicable Accounting Route
  • Capital Structure & Promoter/ Shareholding Review (IndAS)
  • IPO Readiness Roadmap with Timelines

DRHP & RHP Preparation

A preparation to Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP) according to SEBI ICDR Regulations, includes disclosures and regulatory requirements.

  • Business Overview, Risk Factors & Industry Analysis
  • Restated Financial Statements (as per ICDR)
  • Objects of the Issue & Capital Structure
  • Handling SEBI Observations & Responses

Merchant Banker Coordination

End-to-end coordination with SEBI-registered Book Running Lead Managers (BRLMs) and other intermediaries to ensure seamless IPO execution.

  • Coordination with BRLMs & Intermediaries
  • IPO Project Management & Execution Tracking
  • Due Diligence Support Across Intermediaries
  • Liaison with Exchange & SEBI

Book Building & Pricing Strategy

Strategic support for price discovery and allocation in consultation with BRLMs to ensure efficient capital raising.

  • Price Brand Determination in Consultation with BRLMs
  • Anchor Investor Allocation (for Book-Built Issues)
  • QIB/ NII/ Retail Allocation as per ICDR Norms
  • Book-Building Process Monitoring

Investor Roadshow Strategy

Pre-IPO investor outreach and positioning that enhance market visibility and institutional participation through a crafted equity story, investor preparation, and coordination of management meetings.

  • Investor Preparation & Equity Story Development
  • Domestic & International Roadshows (via BRLMs)
  • Institutional Investor Outreach (FIIs/ FDIs)
  • Analyst Interactions Facilitation

Post-Listing LODR Compliance

End-to-end ongoing compliance management support aligning with SEBI (LODR) Regulations, 2015, including Broad composition, committee management, and periodic disclosures.

  • Periodic Disclosures (Quarterly, Annual & Event-Based)
  • Corporate Governance & Board Compliance
  • Investor Trading Policy & Compliance (PIT Regulations)
  • Related Party Transaction Compliance
Our Process

Step-by-Step Mainboard IPO Listing Process

A structured 8-to-12-month journey from IPO decision to NSE/ BSE listing, with end-to-end advisory support aligned with SEBI Regulations.

01

Pre-IPO Planning & Appointment of Intermediaries (Month 1-2)

ICDR readiness assessment, financial gap analysis, corporate governance alignment, ESOP review, cap table cleanup, and onboarding of intermediaries, including BRLMs, legal counsel, statutory auditors, and the registrar.

02

Due Diligence & DRHP Drafting (Month 3-5)

Comprehensive legal, financial, and tax due diligence, followed by drafting of DRHP in line with SEBI ICDR Regulations, followed by internal and merchant banker reviews.

03

SEBI Filing & Observation (Month 5-7)

The DRHP is filed with SEBI and stock exchanges, after which SEBI reviews the documents and issues observations (timelines may vary). Necessary revisions are incorporated into the RHP, and exchange in-principle approvals are obtained.

04

Pre-IPO Investor Marketing (Month 7-9)

Investor outreach is conducted through equity story development, investor preparations, domestic and international roadshows (via BRLMs), and institutional engagements to build market interest and demand.

05

Share Allotment & Listing (Month 9-11)

This stage is the finalization of the price band, including RHP filing and opening the issue for 3-5 days. Followed by bid collection, share allocation, and refund processing.

Listing Day & Beyond

NSE/ BSE listing on T+6 from IPO close. Post-listing LODR compliance setup, investor relations program launch, and ongoing quarterly reporting under SEBI disclosure requirements.

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Why List on Mainboard?

What are the Benefits of Mainboard IPO Listing?

A mainboard IPO listing on the NSE and BSE delivers capital, credibility, and liquidity that no other funding mechanism can match.

Primary Capital Raising

Raise significant capital (typically Rs. 50 crores and above) for growth, acquisitions, debt repayment, and working capital, with flexibility in structuring fresh issue and offer for sale components.

Institutional Investor Access

It gets access to a wide pool of institutional investors, covering FIIs, DIIs, mutual funds, insurance companies, and pension funds, many of whom primarily invest in listed companies.

Promoter Liquidity (OFS)

It allows promoters, investors and early employees to sell their respective shares through an OFS (Offer for Sale) and convert part or all of their holdings into cash.

Brand & Credibility Premium

Companies listed on the National Stock Exchange of India / Bombay Stock Exchange help to gain trust and improve access to customers, investors and talent.

Currency for Acquisitions

A listed company can be used to acquire or obtain companies through stock deals, supporting growth.

MSCI/ FTSE Index Eligibilit

A listed company may also be included in indices in India, like MSCI, FTSE, BSE 500 Index, and NIFTY 50, thus attracting more investors and increasing share liquidity.

FAQ

Frequently Asked Questions on Mainboard IPO Listing

The list of minimum eligibility criteria for Mainboard IPO India is 3-year operating history, minimum Rs 3 crores net tangible assets, minimum Rs 1 crore net worth in each of the last 3 years and an average operating profit of Rs. 15 crores over the same period. Moreover, the company should be a public company, provided promoters hold their shares in demat form.

Typically, the time taken for a Mainboard IPO process from start to listing is around 8 to 12 months. These stages include banker's appointment (around 1 to 2 weeks), preparing and filing the DRHP (around 2 to 3 months), receiving SEBI approval (around 2 to 3 months), and securing the final listing (around 2 to 3 weeks).

A Mainboard IPO is for a large company, an established company listed on major exchanges NSE/ BSE). It has high liquidity, but it also faces strict regulatory requirements. On the other hand, SME IPOs have comparatively relaxed compliance requirements, which allow small/ medium enterprises to raise capital on dedicated platforms (NSE Emerge/BSE SME).

The total IPO costs typically range from 3% to 8% of the issue size for a Mainboard IPO, depending on size and complexity.
Major cost components include BRLM underwriting and management fees (2 to 4% of issue size), legal counsel fees (Rs. 50 lakhs to Rs. 2 crores), registrar and transfer agent fees advertising and roadshow expenses, SEBI and exchange filing fees (Rs. 10 to Rs. 50 lakhs, depending on issue size), pricing costs, and advisor fees.
For a Rs. 500-crore IPO, the total costs would typically be Rs. 15-35 crore. These costs are accounted for in the IPO objectives and are disclosed in the DRHP.

Yes — under the QIB Route (SEBI ICDR Regulation 6(1)). Under this route, a company that does not satisfy the profitability and net tangible asset criteria can still file a DRHP if at least 75% of the offer is mandatorily allotted to Qualified Institutional Buyers (QIBs). This route has been used by several technology, new-age, and high-growth companies where historical profitability doesn't reflect future potential — such as Zomato, Nykaa, Paytm, and Delhivery. The QIB route requires the company to have a strong institutional investor narrative and a credible growth story.

Yes, a loss-making company can go for the Mainboard IPO under the QIB (Qualified Institutional Buyers) route according to SEBI ICDR Regulations.
This said route does not require a condition for profitability, though the company must fulfil conditions like net worth and assets, and at least 75% of the IPO must be allotted to institutional investors (QIBs). Therefore, a strong financial position of the company is a must to be qualified to participate in the Mainboard IPO.

Typically, the promoter lock-in period after the Mainboard IPO is 18 months for 20% of the post-issue share capital from the date of allotment in the IPO. On the other hand, promoter shareholding exceeding 20% is locked for 6 months, such that these shares cannot be sold, transferred, or pledged during this period.
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Why Us?

Why Trust Enterslice for Mainboard IPO Listing?

Given below are the reasons why we are the first choice for the mainboard IPO listing in India-

100+ IPO & Capital Market Engagements

At Enterslice, we have successfully delivered 100+ IPO and capital market engagements, showcasing unmatched execution strength and consistent outcomes across market cycles.

15+ Years of Excellence

Our network of IPO consultants and advisors holds over 15 years of experience, thereby delivering the best outcomes for mainboard IPO listing with a sense of consistency.

5X Faster Execution Timeline

Optimized workflows and AI-backed expert handling enable up to 5X faster IPO readiness and filing timelines, supporting businesses in capturing ideal market opportunities efficiently.

₹1,000+ Crore Average Deal Handling Capacity

Our India’s best IPO consultants will structure and manage large-ticket IPOs with average deal size crossing ₹1,000+crore, ensuring IPO readiness for mainboard-level scaling.

Transparent Pricing Model

Clear, upfront pricing with zero hidden costs builds trust, facilitating business entities to plan finances with charm while focusing on IPO readiness and growth strategies.

Strong Merchant Banker Network

We’ve developed a healthy relationship with top merchant bankers, underwriters, and intermediaries, easing the mainboard IPO listing process and ensuring effective coordination.

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