9AM IPO Scan · Free IPO analyzer
IPO Analyzer: Check Any Indian IPO Before You Apply
Or pick an IPO
Type any IPO on NSE or BSE, even with a spelling mistake. Every morning our AI researches each open and upcoming IPO from public sources and scores it out of 100, with red flags and a peer comparison.
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How to Analyse an IPO Before You Apply
Most investors apply to an IPO after seeing the grey market premium or a social media post. The real information sits in the offer document the company files with SEBI. It runs to hundreds of pages, which is why few people read it. IPO Scan reads it for you and turns it into a score, a list of red flags and a comparison with listed companies in the same business.
DRHP vs RHP: which document matters
The DRHP (Draft Red Herring Prospectus) is the first version a company files with SEBI. It describes the business, financials, risks and the planned issue, but has no dates. The RHP (Red Herring Prospectus) is the updated version filed before the issue opens. It carries the issue dates and the latest financials. IPO Scan uses RHP figures once they are published and DRHP figures before that, as reported by the exchanges and financial news sites.
What the 8 categories check
- Financial health: revenue growth, operating cash flow, working capital and debt.
- Profitability: margins, return on equity and return on capital, and whether they are improving.
- Valuation vs peers: P/E, EV/EBITDA and price to book at the upper price band.
- Promoter and governance: promoter holding after the issue, pledged shares, related-party transactions and board independence.
- Issue structure: how much is fresh issue and how much is offer for sale (OFS) by existing shareholders.
- Use of proceeds: where the fresh money goes, and whether it repays promoter-linked loans.
- Legal and litigation: pending cases against the company, promoters and directors, compared with net worth.
- Risk disclosure: auditor remarks, customer or supplier concentration, and the key risk factors.
How to read the IPO Scan score
IPO Scan runs 33 fixed checks. Each is marked passed, caution, red flag or not found. Category scores combine into a score out of 100: 0–25 Weak, 26–50 Okay, 51–75 Good and 76–100 Strong. A higher score means fewer problems were found in public information about the issue. It does not predict listing gains, and it is not a reason to apply on its own.
IPO Analyzer FAQ
Is the IPO report free?
Yes. Every IPO report is free and needs no login.
Where does the report data come from?
Every morning our AI researches each open and upcoming IPO from public sources such as exchange notices, broker IPO notes and RHP summaries, then marks each of 33 fixed checks. Checks it can’t verify count as neutral. The score is calculated from those checks with fixed weights, and every finding links to its source. Figures may contain errors, so verify important numbers in the RHP.
Does a high score mean I should apply?
No. The score only shows how many issues were found in the offer documents. Always read the RHP, understand the business and judge the price yourself before you apply.
What if I don’t know the exact spelling of the IPO?
Type the first few letters or the name as you remember it. The search corrects common spelling mistakes and also knows brand names and short forms, so you can type the name the way you remember it.
What is the difference between mainboard and SME IPOs?
Mainboard IPOs list on the main NSE and BSE platforms. SME IPOs list on NSE Emerge or BSE SME, are usually smaller, have higher minimum application amounts and can be less liquid after listing.
How do you pick peer companies?
We start with the listed peers named in the RHP’s basis for issue price section, then add comparable listed companies where that list is too narrow.
Disclaimer: IPO Scan is an educational tool from 9AM Traders Academy based on public information. Reports are generated by AI from public sources and may contain errors. It is not a recommendation to apply for, buy, hold or sell any security. [SEBI registration status and number]. Read the RHP and consult a SEBI-registered adviser before investing.