Mainboard
Kanohar Electricals Limited
Kanohar Electricals Limited is a domestic transformer manufacturer operating in two segments - Transformer Manufacturing and EPC - serving power transmission, railways, renewable e…
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
6 publishedMainboard
Pranav Constructions Limited
Pranav Constructions Limited is a Mumbai-based real estate developer focused on MCGM redevelopment projects in the Western Suburbs, and is raising funds via an IPO comprising a fre…
Mainboard
Rays of Belief Limited- For Profit Social Enterprise (FPSE)
Rays of Belief Limited is a For-Profit Social Enterprise operating 136 centres across India (plus centres in the US) that provide therapy and intervention services for children wit…
Mainboard
Deepa Jewellers Limited
Deepa Jewellers is a B2B supplier of hallmarked 22-karat gold jewellery (vaddanam, CNC bangles) to retail chains and standalone stores across South India, using an outsourced karig…
Mainboard
VEEGALAND DEVELOPERS LIMITED
Veegaland Developers is a Kerala-based residential real estate developer (brand 'Veegaland Homes') building mid-premium to ultra-luxury apartments in four cities, raising ₹210 cror…
Mainboard
Hero Motors Limited
Hero Motors designs, prototypes and manufactures powertrain systems (electric and non-electric) for two-wheelers, EVs, off-road vehicles and even aerospace applications, supplying …
How we read a DRHP
Plain-English summary
What the company does, how it makes money, why it's listing now.
Financials that matter
Revenue, margins, growth and debt — pulled out and set against listed peers.
Risk-factor triage
The material risks separated from standard SEBI boilerplate.
Use of proceeds
Where every rupee goes — capex, debt repayment, working capital, or a promoter exit.
Management & governance
Promoter background, related-party dealings and litigation, surfaced.
Verdict
The bull case, the bear case, and what to watch on listing day.
How the analyses are produced Each report follows a fixed institutional equity-research framework — the same 15 sections and scoring rubric every time — applied by an AI model to sections extracted directly from the filing, with page citations and an explicit instruction to say "not disclosed" rather than invent a figure. Nothing is reviewed by an editor before publishing; every AI-written report carries a visible disclosure and links back to the original filing.
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 |
|---|---|---|---|---|
| M K C AGRO FRESH LIMITED | DRHP | Analysis pending | DRHP ↗ | |
| NOPAPERFORMS SOLUTIONS LIMITED | DRHP | Analysis pending | DRHP ↗ | |
| RUNWAL ENTERPRISES LIMITED | DRHP | Analysis pending | DRHP ↗ | |
| NATIONAL STOCK EXCHANGE OF INDIA LIMITED | RHP | Analysis pending | RHP ↗ | |
| Incred Holdings Limited | DRHP | Analysis pending | DRHP ↗ | |
| HERO MOTORS LIMITED | RHP | On NextIPO | RHP ↗ | |
| Torrent Gas Limited | DRHP | Analysis pending | DRHP ↗ | |
| SONASELECTION INDIA LIMITED | RHP | On NextIPO | RHP ↗ | |
| SS RETAIL LIMITED | RHP | On NextIPO | RHP ↗ | |
| Rentomojo Limited | RHP | On NextIPO | RHP ↗ |