USE CASE // IPO INTELLIGENCE
We read the entire DRHP.
So you don't have to.
200+ IPOs per year. DRHPs are 300-500 pages each. Nobody reads them — until something goes wrong. Our agents analyze every DRHP in 30 minutes and deliver a structured forensic report.
THE PROBLEM
Nobody reads the DRHP.
India sees 200+ IPOs per year. Each Draft Red Herring Prospectus is 300-500 pages of dense legal and financial disclosure. Broker reports summarize the financials and slap a target price. Nobody does forensic due diligence on the actual document.
But the DRHP contains everything: risk factors, related party transactions, litigation history, promoter background, auditor qualifications, objects of the issue, and financial irregularities. The red flags are in there — hiding in plain sight.
Every red flag we have ever found was in the public DRHP. Nobody else connected them.
INDUSTRY REALITY
THE PIPELINE
Upload DRHP. Three agents analyze. Report in 30 minutes.
Promoter Behavior Agent
Trust Assessment
ANALYZES
Promoter background, litigation history, previous ventures, directorship network, pledging history, related party dealings, political connections
OUTPUT
Trust score (0-100) with detailed breakdown and risk flags
RPT Monitor Agent
Extraction Risk
ANALYZES
Related party transaction volumes, transaction types, counterparty analysis, promoter entity web, circular transactions, connected addresses
OUTPUT
RPT risk score with transaction map and extraction probability
Synthesis Agent
Final Verdict
ANALYZES
Combines both agent outputs with financial data, peer comparison, anchor allocation quality, pricing analysis, and market conditions
OUTPUT
Verdict (INVEST / CAUTION / AVOID) with confidence level and key factors
CASE STUDY
Marushika Technology: 38 red flags in one DRHP.
A small-cap IPO that proceeded to market despite DGGI fraud investigation, ₹19 Cr in circular promoter loans, 74% receivables concentration, and zero mutual fund participation in anchor allocation.
Our agents found all 38 flags in 30 minutes. The verdict: AVOID. Trust score: 12/100. Forensic override triggered.
READ THE FULL CASE STUDY →AGENT OUTPUT SUMMARY
OUTPUT FORMAT
What you get for every IPO.
Trust Score
0-100 composite based on promoter behavior, governance, and track record
Red Flag Count
Total number of issues identified across all categories
Severity Breakdown
CRITICAL / HIGH / MEDIUM / LOW classification for each flag
Forensic Override
When agent detects fundamental fraud indicators, verdict forced to AVOID regardless of other scores
Anchor Analysis
Quality score for anchor investors. Mutual fund participation rate. Repeat anchor detection.
Final Verdict
INVEST / CAUTION / AVOID with confidence percentage and top 5 supporting factors
ANCHOR ANALYSIS
Who else is investing tells you everything.
When zero mutual funds participate in anchor allocation, it is a signal. When the same obscure entities appear across 100+ IPO anchors, it is a pattern. We score anchor investor quality and flag repeat players.
Every IPO. Forensically analyzed.
Get early access to automated DRHP analysis — 30 minutes per IPO, not 30 hours.