IPO Coach — IPO Readiness Advisory for Established SMEs

IPO

COACH

ConfidentialPrivate Advisory

A SAMPLE OF YOUR IPO READINESS REPORT

Executive Summary

Date of Review

Sept 2026

An independent perspective on key areas of your company's readiness for the public markets.

Prepared For

Industries Pvt. Ltd.

Overall Readiness

Moderate

Good foundation with specific areas requiring attention.

Preparation Timeline

18 – 24 Months

Estimated timeline to address gaps and meet market expectations.

Indicative Route

Main Board / SME Emerge

Subject to final structuring and market conditions.

Readiness Checklist

Audited Financials (3 Years)

Cleared

Board Composition

Cleared

Promoter Dependency

Gap

Related-Party Transactions

Gap

Statutory Dues

Cleared

Shareholding Structure

Review

Why Manish Rangari

He has seen the market from the other side.

Manish Rangari brings 30+ years of experience across stock exchanges, capital markets and market infrastructure including leadership roles at Pune Stock Exchange and MCX.

Qualifications

B.E.(Civil Engg)
MBA (Finance)
LLB (Law)

ISB Alumni

Alumnus, Indian School of Business (ISB)

Professional Experience

30+ yrs managing Stock and Commodity Exchanges, Fund raise, guiding new ventures and Listing of companies.

“A promoter rarely fails at the listing. He fails two years earlier, at a decision nobody flagged as important at the time.”

Three Decades. Multiple Exchanges. Deep Expertise.

Pune Stock Exchange Ltd.

Managing Director & Secretary

Managed entire gamut of exchange operations, business, listings, stock brokers and regulatory compliances.x

Senior Vice President

MCX Ltd.

Served as head of Market Operations for India’s largest Commodity derivatives exchange.

Chief Operating Officer

MCX Stock Exchange MCX Ltd.

Set-up a new Currency exchange in country, post approval from SEBI & RBI within a time-bound period and was the 1st COO of MCX-Sx

Founding Team

Bourse Africa

Set-up an exchange with hub & spoke model for business connectivity to 52 African countries.

Alumnus

Indian School of Business

Executive learning that strengthens strategy, governance and leadership.

Experience across exchanges, market infrastructure and the public-market ecosystem.

THE DISTINCTION

What an IPO readiness advisor actually does

A merchant banker and a readiness advisor are complementary, not competing. They simply act at different points on the timeline.

Acts when you are ready

Merchant Banker

→Executes the listing transaction as appointed lead manager
→Prepares and files the offer document with the exchange and SEBI
→Handles due diligence, underwriting, pricing and distribution
→Manages the issue through to allotment and listing

Acts in the years before

IPO Readiness Advisor

✓Assesses whether the business is prepared for that examination
✓Identifies governance, financial and documentation gaps early
✓Sequences the corrections so they are complete before diligence begins
✓Helps you arrive at the merchant banker as a credible candidate

The merchant banker takes over when you're ready. The readiness work starts earlier.

The Review

How the 45 minutes are structured

One-to-one with Mr. Rangari, across five areas. You are not buying 45 minutes. You are buying clarity about where your company stands on the journey to a public listing.

45 minutes One-to-one, with Mr. Rangari Confidential

Readiness Assessment

An honest read of where your company stands today against what a listing will demand of it.

Listing Pathway

SME platform or Main Board — which route your numbers, structure and timeline actually support.

Gap Identification

The specific governance, financial and documentation issues that would surface in diligence.

Priority Roadmap

What to correct first, what can follow, and what should not be started yet.

Capital Strategy

How a listing fits — or does not fit — alongside the other ways of funding your growth.

Outcomes

What you will know at the end of it

Seven answers you almost certainly do not have today and cannot get from anyone selling you a transaction.

01
Which listing route may be relevant for your company SME or Main Board.
02
Which related-party transactions may need closer attention.
03
Whether your financial history is ready for deeper scrutiny.
04
Whether promoter dependency could become a concern.
05
What your advisors will need
06
What should be fixed first
07
Whether an IPO is the right route for your growth plans

No outcome of a listing, valuation, fundraise or return is promised or implied at any point.

What Promoters Say

The conversation they wish they had earlier

“He spent the first ten minutes asking about our shareholding and the next thirty telling me why two of our group transactions would have stopped the file cold. Our merchant banker raised the same points eighteen months later. By then they were already fixed.”

Rajesh KulkarniChairman & Managing Director, Sunview Precision Ltd.

“I went in expecting to be sold a programme. He told me our company was not ready and should not attempt a listing for three years. That answer was worth more than a yes.”

Sunita MehtaPromoter, Kaveri Agro Foods Ltd.

“I have sat opposite him when he ran the exchange. Very few people in India have seen the listing process from both sides of the table the way he has.”

Anil DeshpandeFormer Executive Director, National Exchange

“He told our client things about their own structure that we had stopped noticing. Every SME promoter thinking about listing should have that session.”

Prakash BhandariSenior Partner, Bhandari & Associates

QUESTIONS

Frequently asked questions

Why should I pay for a consultation?+

IPO Coach is a professional independent subject matter expert consultant. It studies / identifies the gap areas and advises about the current readiness status of companies for IPOs. For the professional assignment services it gets compensated by the client company. It is not compensated by the Merchant Banker for taking the company to the IPO route. It doesn't have conflicts of interest.

My CA already handles our compliance. Why do I need this?+

Compliances keep updated about regular rules to be adhered and followed-up. A readiness review looks at whether your business, governance, financials and operational structure would survive the scrutiny of a public-market process. In another way…… it’s a different lens, that will see things from the Exchanges and Regulators perspective.

My company is probably too small for an IPO.+

That may well be true today but going forward the company will grow and for that the preparations need to be started now. The review will tell you honestly, including whether the SME platform is realistic or whether another route serves you better going forward.

I am not planning an IPO immediately. Is this premature?+

No. The decisions to go for listing are usually made one to four years prior to going public. This is precisely the time when one gets prepared for the bigger picture. Even if no IPO is made by company, by adopting the prudent norms it remains a step ahead of its peers.

Is this a pitch for an expensive programme?+

The one-to-one session is a stand-alone review session for understanding the IPO readiness of companies. Post the gap analysis review, companies independently decide about seeking professional expert consultation and handholding from IPO coach for 1-2 years, which is on paid basis.

Will my information stay confidential?+

Yes. The review is private and strictly confidential, covered by professional discretion.

Is this investment advice?+

No. This is strategic independent advisory on corporate readiness for a listing — not an investment advice, stock tips or a securities recommendation.

Can my CFO or co-director join?+

Yes. Your CFO may join the session so the follow-through can be shared across your leadership.

What happens after I apply?+

Mr. Manish Rangari goes through your application himself so that a meaningful IPO readiness discussion is carried out. Sessions are confirmed in the order they come in, and you will be informed about the next available slot.

Is Your Company
Ready to List?

A SAMPLE OF YOUR IPO READINESS REPORT

He has seen the market from the other side.