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IPO Transaction Advisor & Project Management for a precision
engineering company
A large manufacturer of precision machined components needed support for a time-bound IPO project execution, through to listing.
We were introduced to the client to provide end-to-end support and own & drive the IPO project.
Business Background
40+ years of business operations | Family owned & PE invested | Highly supportive and focused founders and investors | Management had no prior public market / IPO experience | Thin internal management bandwidth
Ask
Free up management's time and resources for business priorities by supporting and driving the IPO process.
Take ownership and be the single port of contact for IPO-related activities.
Advise the founders and management on IPO-specific topics.
A team with solid hands-on experience in running an IPO project.
Complete set up and management of the Data Room.
Ensure that DRHP is filed by the target date (Cir. 3½ months from kick-off)
Ensure timely RHP filing and listing (Cir. 4 months from DRHP filing)
The Raadhi Impact
An ownership driven and execution focused approach led to a ‘time-bound’ and successful IPO Listing whilst adding value and solving critical issues through the execution process
Execution
An experienced and dedicated team was tasked as the single point of contact for all intermediaries.
A project plan, schedule, and battery limits were established.
Long lead items were prioritised and potential bottlenecks were identified.
All stakeholders were aligned to deliver the project plan.
A leadership group with stakeholders was formed and tasked with making critical decisions and course corrections where required.
A comprehensive view on comments and queries raised by intermediaries (including BRLMs, Legal Counsels, Auditors, ICE, ICA, etc.) and regulators (SEBI) was provided while working with the management. This facilitated a comprehensive, practical, and time-bound approach to addressing these matters.
In collaboration with stakeholders, various sections of the DRHP, RHP, and Prospectus were reviewed and understood. This facilitated the timely completion of their drafts.
With the help of practical insights and solutions provided for various IPO-related items, disputes, conflicts were resolved, clarity was brought in, and everyone was steered towards the project goal.
Impact & Outcome
Examples of insights & solutions
Curated appropriate KPIs: Assisted the Management in identifying the appropriate KPI disclosures by providing in-depth benchmarking analysis of peers’ and industry KPIs; thereby maintaining a competitive edge and avoiding needless disclosures.
Set up the promoter holding structure & estate planning keeping in mind the IPO context and practical commercial perspectives.
Researched and implemented solutions for appropriate accounting treatment for critical aspects to capture appropriate value in the financials
Outcome
- DRHP filed as per project plan; no delays. (Cir. 3½ months from kick-off)
- Listing completed from kick-off in Cir 7 ½ months