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Kanohar Electricals Limited
Kanohar Electricals is a manufacturer of transformers and an EPC provider for power systems, serving sectors like railways and renewables. While the company shows explosive revenue…
DRHP Analysis
A 500-page prospectus, decoded to one page.
Every Indian IPO is preceded by a 400–700 page Draft Red Herring Prospectus filed with SEBI — the real disclosure of the business, financials, risks and where your money goes. Almost nobody reads it. We do the deep read and give back the parts that move money.
IPOs we've decoded
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Pranav Constructions Limited
Pranav Constructions is a Mumbai-based real estate developer specializing in the redevelopment of housing societies in the Western Suburbs. While the company shows strong revenue a…
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Rays of Belief Limited- For Profit Social Enterprise (FPSE)
Rays of Belief Limited provides specialized therapy and intervention services for children with neurodevelopmental disorders like autism and ADHD through a network of learning cent…
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Deepa Jewellers Limited
Deepa Jewellers is a B2B designer and supplier of hallmarked gold jewellery, primarily serving retail chains and stores in South India. While the company shows explosive revenue an…
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Priority Jewels Limited
Priority Jewels is a B2B manufacturer of lightweight, affordable diamond and gold jewellery, supplying major Indian retail chains like Kalyan and Reliance. While the company is ben…
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ESDS Software Solution Limited
ESDS is an Indian AI-enabled cloud, managed services, and data center provider. The company is transitioning from a pure infrastructure provider to a high-margin managed services a…
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Annu Projects Limited
Annu Projects is an infrastructure company that builds and maintains telecom (fiber optics), sewerage, and gas pipeline networks. While the company is growing rapidly with a massiv…
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Symbiotec Pharmalab Limited
Symbiotec Pharmalab is a specialized pharmaceutical company that manufactures Active Pharmaceutical Ingredients (APIs), focusing on niche areas like corticosteroids and steroidal h…
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Hy-Tech Engineers Limited
Hy-Tech Engineers is an industrial engineering firm that designs and manufactures hydraulic fittings for sectors like construction, automotive, and agriculture. While the company s…
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Augmont Enterprises Limited
Augmont is a high-volume gold and silver trading and refining platform that serves both businesses and consumers through digital and physical channels. While the company is growing…
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Tempsens Instruments (India) Limited
Tempsens is a leading Indian manufacturer of temperature sensors, heating solutions, and specialized cables used in heavy industries like steel and oil & gas. While the company sho…
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Gaja Alternative Asset Management Limited
Gaja is an investment management firm that manages private equity-style funds (AIFs) for institutional and high-net-worth investors. While the company shows growing profits, the ea…
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Lalithaa Jewellery Mart Limited
Lalithaa Jewellery Mart is a South Indian retailer of gold, silver, and diamond jewellery with 61 stores. While the company shows explosive profit growth in the latest fiscal year,…
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VEEGALAND DEVELOPERS LIMITED
Veegaland Developers is a Kerala-focused residential real estate developer (brand 'Veegaland Homes') building mid-premium to ultra-luxury apartments in Kochi, Thiruvananthapuram, K…
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Manika Plastech Limited
Manika Plastech makes specialized plastic packaging, primarily high-precision battery casings for energy storage and pails/containers for food and chemicals. While the company is g…
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Hero Motors Limited
Hero Motors is a powertrain systems maker (part of the Munjal/Hero group) supplying engineered components and systems for two-wheelers, e-bikes, EVs and even aerospace to global OE…
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SONASELECTION INDIA LIMITED
Sonaselection India Limited is a Rajasthan-based fabric manufacturer that converts raw textiles into finished fabric (cotton, cotton-lycra, blends) and also does job-work processin…
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ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED
ARCIL is an asset reconstruction company that buys bad loans (stressed assets) from banks and tries to recover the money through restructuring or legal enforcement. This IPO is pur…
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Karamtara Engineering Limited
Extracted from the filing: 6 risk factor(s) and a 3-year financial snapshot.
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LCC Projects Limited
LCC Projects is an engineering and construction company that builds irrigation and water supply infrastructure like dams and canals. While the company is growing rapidly, it relies…
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Manipal Payment and Identity Solutions Limited
Manipal Payment and Identity Solutions manufactures payment cards, ID cards, and secure logistics for banks and governments. While they are a major player with expanding profit mar…
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Steamhouse India Limited
Steamhouse India provides industrial gases like steam and nitrogen through a specialized pipeline network to industrial clusters in Gujarat. While the company is growing its revenu…
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Jindal Supreme (India) Limited
Jindal Supreme (India) Limited manufactures steel pipes, tubes, crash barriers and GI poles used in infrastructure, water supply and power projects. The IPO is mostly a fresh issue…
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SS Retail Limited
SS Retail is a large-scale mobile phone and electronics retailer, ranking as the 3rd largest in India. The company is using this IPO to fund massive working capital needs to suppor…
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NATIONAL STOCK EXCHANGE OF INDIA LIMITED
NSE is India's leading multi-asset stock exchange providing trading, clearing, and listing services. This IPO is exclusively an Offer for Sale (OFS), meaning existing shareholders …
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Varmora Granito Limited
Varmora Granito is a manufacturer of tiles (primarily premium glazed vitrified tiles) and bathware products for the Indian and international markets. The single biggest takeaway is…
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Swastika Infra Limited
Swastika Infra is an engineering and construction company that builds power transmission and distribution infrastructure, primarily for government utility companies. While the comp…
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Adroit Industries India Limited
Adroit Industries manufactures propeller shafts and torque-transmission components, primarily for the US export market. While the company shows strong margin growth and vertical in…
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ARMEE INFOTECH LIMITED
Armee Infotech is an IT services and infrastructure company that is rapidly pivoting into the renewable energy sector. While revenue is growing, the company is facing shrinking pro…
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Moneyview Limited
Moneyview is a digital lending platform that uses AI to provide personal loans and other financial services to middle-class Indian households. While it shows rapid revenue and prof…
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Orient Cables (India) Limited
Orient Cables manufactures networking and specialty power/optical cables for industries like telecom and data centers. While the company is growing its revenue quickly, it is strug…
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Runwal Enterprises Limited
Runwal Enterprises is a Mumbai-based real estate developer focusing on residential, commercial, and retail projects. The company is planning an IPO to raise ₹5,000 million, primari…
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AceVector Limited
AceVector is a digital commerce group that owns the Snapdeal marketplace, the Unicommerce SaaS platform, and Stellaro consumer brands. While its SaaS business is growing rapidly, t…
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German Green Steel and Power Limited
German Green Steel and Power is a Gujarat-based manufacturer of TMT bars and other steel products using a vertically integrated model. The company is undergoing significant expansi…
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Shah Investor's Home Limited
Shah Investor's Home Limited is a regional stockbroking and depository services provider primarily operating in Gujarat. The company's growth story is currently facing significant …
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Srit India Limited
Srit India is an IT services company focusing on digital automation for government and enterprise clients in healthcare, e-governance, and telecom. The major takeaway is a signific…
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Nityas Gems and Jewellery Limited
Nityas Gems and Jewellery makes lab-grown diamond jewellery through wholesale (B2B) and its own retail brand, Ayaani (D2C). While the company is growing very quickly, it is current…
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HD Fire Protect
HD Fire Protect is an Indian manufacturer of high-hazard fire suppression systems (water, foam, and gas-based) serving industrial and commercial sectors globally. While the company…
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Fusion CX
Fusion CX provides customer experience (CX) services like technical support and AI data services to global clients, primarily in the US. While the company shows impressive revenue …
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Tonbo Imaging India
Tonbo Imaging develops high-tech defense electronics like thermal sights and surveillance systems for military and police use. However, this IPO is purely a way for existing invest…
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Sahajanand Medical Technologies
Sahajanand Medical Technologies (SMT) develops high-end cardiovascular medical devices like stents and balloons for global markets. While the company is growing rapidly, the IPO is…
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Paras Healthcare
Paras Health is a specialized hospital operator in North and East India providing high-acuity tertiary and quaternary healthcare. The company is currently in a turnaround phase, ha…
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Jio Platforms Limited
Jio Platforms is a massive digital technology company that provides internet connectivity, entertainment, and AI services to over 533 million users in India. The single biggest tak…
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SFC Environmental Technologies
SFC Environmental Technologies provides wastewater and solid waste treatment solutions, primarily serving government and municipal projects in India. While the company has a massiv…
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BLS Polymers
BLS Polymers manufactures specialized polymer compounds used in wires, cables, and pipelines. While the company is showing strong revenue and profit growth, it is currently struggl…
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Bombay Coated and Special Steels Limited
Bombay Coated and Special Steels Limited processes steel coils into specialized products for the home appliance and engineering sectors. While revenue is growing rapidly, the compa…
How we read a DRHP
Risk factors, as filed
The filing's own numbered risk-factor table, pulled out directly — not a curated top-N judgment call.
Financial snapshot
Revenue, EBITDA, net profit and more for the most recent 3 fiscal years, straight from the filing's summary table.
Use of proceeds
Where every rupee goes — capex, debt repayment, working capital, or a promoter exit (where disclosed).
No invented opinion
Nothing here is a verdict or a score — a mechanical extraction, clearly labelled as such, linking back to the original filing.
How the analyses are produced As of a new filing, this is a mechanical extraction, not AI or human analysis: the risk-factor rows and financial-summary figures come straight out of the filing's own standard tables with pattern matching, no interpretation added, no score, no opinion. A small number of earlier pages still carry a full AI-written institutional report from when that approach was in use — those are labelled separately and weren't regenerated. Every page links back to the original filing either way.
Recently filed with SEBI
SEBI filings ↗Draft (DRHP) and final (RHP) offer documents, newest first. Each links to the document on sebi.gov.in.
| Company | Type | Filed | Status | Document |
|---|---|---|---|---|
| South Eastern Coalfields Limited | DRHP | Analysis pending | DRHP ↗ | |
| Carlsberg India Limited | DRHP | Analysis pending | DRHP ↗ | |
| INTELLIUS RECODE LIMITED - Notice to Investors | DRHP | Analysis pending | DRHP ↗ | |
| Oravel Stays Limited | DRHP | Analysis pending | DRHP ↗ | |
| Integris Medtech Limited | DRHP | Analysis pending | DRHP ↗ | |
| SFC Environmental Technologies Ltd. | RHP | Analysis pending | RHP ↗ | |
| GAMP Services Limited | DRHP | Analysis pending | DRHP ↗ | |
| Hunger Pangs Limited | DRHP | Analysis pending | DRHP ↗ | |
| Tablespace Technologies Limited | DRHP | Analysis pending | DRHP ↗ | |
| BOMBAY COATED AND SPECIAL STEELS LIMITED | RHP | On NextIPO | RHP ↗ |