IPO Readiness Services
Financial statement readiness, Internal Financial Controls, and governance documentation — closing the gaps between current practice and what a listing process and its due diligence will require, well before the timeline compresses.
Getting the financial and governance house in order before the market looks.
A public listing — on Indian exchanges, or via structures connected to overseas markets — places far higher demands on financial reporting, internal controls and corporate governance than the company has typically operated under as a private entity. Restated financial statements covering multiple years, robust Internal Financial Controls, and clean related-party and governance documentation all need to be in place well before the formal listing process begins.
Our IPO Readiness practice works with management teams in the period leading up to a planned listing, identifying and closing the gaps between current practice and what the listing process — and its due diligence — will require.
- Restated financial statements covering the track record period
- Internal Financial Controls (IFC) design and testing
- Related party transaction documentation and rationalisation
- Corporate governance and board documentation readiness
- Due diligence preparation — data room organisation and query response
Restated financials and the controls behind them.
Listing requirements typically call for a multi-year track record of financial statements prepared on a consistent accounting policy basis — which often means restating historical financials where policies have changed, or where accounting positions need to be revisited for listing-grade scrutiny. Alongside this, the company's Internal Financial Controls need to be designed, documented and tested to the standard expected of a listed entity.
- Restatement of financial statements for the track record period under applicable accounting standards
- Internal Financial Controls (IFC) framework design and testing
- Accounting policy harmonisation across group entities ahead of consolidation
- Resolution of qualified audit opinions or emphasis-of-matter items from prior years
The documentation a listing process will ask for.
Beyond the financials, listing due diligence covers corporate governance structures, board composition, related party arrangements, and statutory compliance history. We help management teams identify gaps in this documentation early — when they're straightforward to address — rather than during the compressed timeline of an active listing process.
- Related party transaction documentation, approvals and disclosure rationalisation
- Board and committee composition review against listing governance norms
- Statutory compliance history review — ROC, tax, GST, FEMA filings
- Data room organisation and structured response support for due diligence queries
- Coordination with merchant bankers, legal counsel and other transaction advisors