23 Jul 2026
Why more companies are choosing SEBI’s confidential IPO filing route
03 Jun 2026
03 Jun 2026
This is a link-enhanced version of an article that first appeared in Money Control
Article Overview:
The article examines the rising use of SEBI’s confidential IPO filing route, noting that it gives companies greater flexibility to refine disclosures and navigate regulatory reviews before entering the public domain. Several companies have filed draft red herring prospectuses through the confidential route in recent months. The article further highlights that while the mechanism offers key advantages including an extended approval window, the ability to shield sensitive business information from competitors, and the option to conduct limited outreach with institutional investors before going public, it also comes with trade-offs such as higher legal, compliance and advisory costs, and reduced early visibility among investors and analysts.
Our Partner, Richa Choudhary, shared her perspective. Here’s what she had to say:
Adoption has steadily increased since the framework was introduced, particularly among startups and new-age technology companies. “The confidential filing mechanism allows companies to submit draft offer documents to SEBI on a confidential basis, enabling regulatory review and making necessary amendments based on queries and comments from regulators, without immediate public disclosure and scrutiny.”
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