India's First AI-Native Investment Bank
IPO Advisor for Indian Companies Listing on NSE, BSE and SME
S45 works with founders, CFOs and boards from the first readiness check to listing day, and stays on for investor relations after the listing.
- 0% upfront fees, with terms set out before you sign
- First call to signed mandate in 7 days
- DRHP-ready draft in 30-45 days, issuer dependent
Executed with Narnolia, a Category-I SEBI-registered merchant banker
Prefer to talk? Call +91 95879 52454
Talk to an IPO advisor
Share a few details about your company and a banker will come back to you.
Why founders and CFOs pick S45
0% upfront fees
You pay a retainer for readiness and filing work plus fees linked to issue milestones. Every term is written into the engagement letter before you sign.
Speed without shortcuts
Seven days from first call to signed mandate. A DRHP-ready draft in 30 to 45 days once the data room is clean.
One place to see everything
Live DRHP Status, SEBI Query Board, Live Pricing Band and Demand Map replace 23 file versions sitting in four inboxes.
Sector bankers, not generalists
Coverage across 12 industries, from EPC and chemicals to SaaS, NBFCs, healthcare, hospitality and food.
A regulated Lead Manager
S45 runs the AI-led layer. Narnolia, a Category-I SEBI-registered merchant banker, acts as the Lead Manager on the issue.
We stay after listing
30/90-day IR intensives, earnings materials, analyst coverage coordination, market maker work for SME and migration planning.
What an IPO advisor does for you at S45
Most companies come to us 12 to 18 months before filing. We start with a 30-minute AI-powered Readiness Scan that checks your financial track record, free float, board independence, demat readiness with NSDL or CDSL, statutory dues and open litigation against SEBI ICDR and exchange criteria.
From there we help you pick the route, draft the DRHP, manage SEBI queries, support pricing and bookbuilding with Narnolia as Lead Manager, and carry on with investor relations once you are listed.
- 30-minute AI Readiness Scan and AI Risk Radar for early gap spotting
- Main Board (NSE, BSE) vs NSE Emerge / BSE SME route selection
- Cap table cleanup, ESOP and ESPS structuring, promoter contribution planning
- Ind-AS restatement, segment reporting and internal financial controls readiness
- DRHP and RHP drafting, SEBI query responses, data room setup and project management
- ASBA/UPI setup, ISIN allocation, NSDL/CDSL demat setup and escrow bank appointment
- Pricing band work, bookbuilding, anchor investor allocation per SEBI rules
- Post-listing IR, market maker appointment for SME issues and Main Board migration advice
Track record and reach
“In our EPC and electricals business, the biggest worry is whether a banker will truly understand how work actually gets done, but with S45 that clarity came immediately. They grasped our contracts, receivables, working-capital cycles and project timelines faster than anyone we've worked with, and the entire process felt structured and predictable. Every requirement was asked once, every step had an owner and deadline, and there was no noise, no chaos, no last-minute fire drills. Their AI-led readiness caught issues early and they built a clean, disciplined book with the right investors. Looking back, the real value was not just going public but how calm, precise and professional the entire journey felt, S45 set a new benchmark.”
“In our business of fresh foods and cold chain, an IPO is less about paperwork and more about judgment, and that is where S45 really stood out. They understood our unit economics, supply chain realities and city-wise brand perception faster than most bankers, so nothing had to be explained twice. Execution was equally sharp: every deliverable was ahead of schedule, every number in the DRHP was pre-validated, and every projection came with a clear narrative. They did not just help us list, they helped us list well with the right mix of investors and steady guidance in the early weeks. When I see our stock trade with stability and gradual compounding, I know it is the outcome of a disciplined, tech-led, founder-friendly process.”
What happens after you send the form
Share your plans
Tell us your sector, revenue scale and listing timeline. A banker reads it before the call.
Run the readiness scan
A 30-minute AI-powered scan checks you against SEBI ICDR and exchange criteria and flags the gaps to close.
Get a scope and quote
You receive a tailored engagement scope and fee structure, documented before any mandate is signed.
Frequently asked questions
How do your fees work?
0% upfront. The engagement is a retainer for readiness and filing work plus fees linked to issue execution milestones. All terms are discussed upfront and documented in the engagement letter before mandate signing.
Are you the SEBI-registered merchant banker?
No. Narnolia, a Category-I SEBI-registered merchant banker, acts as the regulated Lead Manager. S45 runs the AI-led readiness, drafting, demand mapping, pricing support and post-listing investor relations layer.
Should we go for the Main Board or an SME platform?
It depends on your revenue scale, profit record, free float and governance maturity. Main Board mandates typically run 6 to 12 months from mandate to listing; SME issues on NSE Emerge or BSE SME typically run 2 to 3 months. The readiness scan compares both routes against SEBI ICDR and exchange criteria.
How long does the whole process take?
Most companies engage 12 to 18 months before filing. First call to signed mandate is typically 7 days, and a DRHP-ready draft takes 30 to 45 days from a clean data room. Final timelines depend on SEBI review and market conditions, so no timeline is promised.
Can we see investor names before we sign?
Investor previews before mandate signing are cohort-level only. Specific investor identities are shared only after an NDA or a signed mandate.
Which companies and sectors do you work with?
Indian companies listing on NSE, BSE, NSE Emerge or BSE SME, across 12 sectors: healthcare and life sciences, financial services, TMT, consumer and retail, agriculture and food, chemicals and materials, energy and utilities, industrial goods, automotive and mobility, education, hospitality and tourism, and aerospace and defence. We do not advise on listings outside India.
Ready to talk to an IPO advisor?
Tell us where you are in the journey. We will walk you through the route options, the gaps to close and the scope of work, with fees written down before anything is signed.
- 0% upfront fees, with terms set out before you sign
- First call to signed mandate in 7 days
- DRHP-ready draft in 30-45 days, issuer dependent
Prefer to talk? Call +91 95879 52454