Home/Services/IPO Services/Follow-On Public Offer (FPO) Advisory

IPO SERVICES • SECONDARY EQUITY CAPITAL RAISING

Fast-Track Secondary Capital Raising for Listed Entities

Strategic guidance for listed companies issuing fresh shares or promoter divestments through the FPO route.

Book Mandate Consultation Check Diagnostic & Tools

Listed Corporations

Target Market

Book-Building / Alternate

Pricing Discovery

SEBI Reg 155

Fast-Track Eligible

ICDR Chapter IV

SEBI Regulations

STRATEGIC OVERVIEW

Promoter-First Advocacy in Follow-On Public Offer (FPO) Advisory

For already listed corporations, a Follow-On Public Offer (FPO) is one of the most powerful institutional instruments to raise fresh expansion capital, restructure balance sheet debt, or dilute promoter holding to meet statutory Minimum Public Shareholding (MPS) norms of 25%. Unlike an IPO, an FPO takes place in an environment where the company's equity already trades openly. This means issue pricing, market timing, market volatility, and arbitrage dynamics play an enormous role. Glocal Consultants engineers strategic FPO campaigns, utilizing fast-track SEBI mechanisms under Regulation 155, designing discount structures for retail investors, and orchestrating domestic and overseas roadshows.

DELIVERABLES & SCOPE

What Glocal Delivers on Your Mandate

Fast-Track FPO Eligibility Verification

Checking criteria under SEBI ICDR Regulation 155 for accelerated review without prolonged SEBI observation wait times.

Fresh Issue vs. Promoter Dilution Mix

Structuring the offering to balance growth capital injection with promoter liquidity requirements.

Secondary Market Pricing Dynamics

Analyzing secondary market turnover, 60-day VWAP, and peer multiples to determine the optimal floor price.

Offer Document & Legal Clearance

Drafting the Red Herring Prospectus with statutory disclosures, management discussions, and risk updates.

Institutional Roadshows & Book Sizing

Engaging existing institutional unitholders and new institutional investors to anchor demand.

Minimum Public Shareholding (MPS) Compliance

Designing FPO structures specifically to satisfy SEBI's 25% minimum public shareholding mandate.

REGULATORY BENCHMARKS

Statutory Eligibility & Criteria

Governed under SEBI ICDR Regulations 2018 (Chapter IV - FPO):

Statutory Metric	Regulatory Requirement
Listing Status	Equity shares of the issuer must be listed on a recognized stock exchange for at least 3 years
LODR Compliance	Complete continuous compliance with SEBI LODR without material non-compliance flags
Minimum Public Float	Issue structured to meet or maintain at least 25% public shareholding
Investor Redressal	Proven track record of resolving investor complaints on SCORES platform
Fast-Track Route	Market capitalization of public float at least ₹1,000 Cr with zero audit qualifications

EXECUTION WORKFLOW

5-Stage Milestone Roadmap

Objective & Capital Structuring

Determining issue objectives (capex, debt retirement, or MPS compliance) and issue sizing.

Board & Shareholder Approvals

Securing board approval and special resolution under Section 62(1)(c) of Companies Act.

Offer Document Preparation

Drafting Red Herring Prospectus and filing with stock exchanges and SEBI.

Roadshows & Institutional Anchoring

Conducting marketing roadshows and securing anchor allocations ahead of public bidding.

Bidding, Allotment & Listing

3-day public bidding window, allocation at discovered cut-off price, and exchange listing of new shares.

VALUE REALIZATION

Strategic Advantages for Issuers

✓Access to Substantial Capital Pools Without Additional Debt Service

✓Accelerated Approval Process via Fast-Track SEBI Route for Eligible Companies

✓Expansion of Institutional Shareholder Base (Domestic Mutual Funds & FPIs)

✓Resolution of Non-Compliant Promoter Holding Norms (SEBI MPS 25% Rule)

✓Enhanced Trading Liquidity and Free-Float Market Capitalization

✓Strengthened Credit Profile and Reduced Weighted Average Cost of Capital (WACC)

FREQUENTLY ASKED QUESTIONS

Mandate FAQs & Clarifications

An FPO is generally priced at a slight discount (typically 3% to 7%) to the prevailing market price or Volume Weighted Average Price (VWAP) to incentivize institutional and retail subscription.

Strategic Promoter Access

Schedule a Consultation for Follow-On Public Offer (FPO) Advisory

Schedule an exclusive, non-disclosure advisory session with our senior capital markets partners. We evaluate your listing feasibility, capital structure, and valuation multiples.

Confidential Advisory RequestAll discussions strictly covered under bilateral Non-Disclosure (NDA).

Partner Desk

Direct Partner Contacts

Direct Advisory Hotline

+91 96257 55789

Corporate Inquiries

info@glocalconsultants.com

Corporate Headquarters

Glocal Consultants Private Limited
C-1119, KLJ Noida One,
Sector 62, Noida - 201309

Hours: Mon – Fri: 9:30 AM – 6:30 PM IST
Advisory desks in Noida, Mumbai & Bangalore