Draft Red Herring Prospectus (DRHP) in India

Mon, 11 May 2026 00:00:00 +0000

A Draft Red Herring Prospectus (DRHP) is the preliminary offer document that an issuer files with the Securities and Exchange Board of India (SEBI), the concerned stock exchange(s), and the SEBI-designated public repository before a book-built Initial Public Offering (IPO) or Follow-on Public Offer. The DRHP precedes the Red Herring Prospectus (RHP) in the IPO lifecycle and serves as the document on which SEBI conducts its regulatory review. Unlike the RHP, the DRHP does not contain the price band, the lot size, the subscription opening and closing dates, or the final allotment methodology; these fields are left blank or indicated as “to be determined” pending the issuer’s decision after SEBI’s observations have been incorporated. The DRHP is a public document; SEBI posts it on its primary issues portal on the date of filing, allowing any member of the public, media organisation, analyst, or prospective investor to read and comment on it during the thirty-day observation window.

Draft Red Herring Prospectus on WebNotes

Draft Red Herring Prospectus (DRHP) in India