Mandatory website requirements and disclosure checklists under SEBI ICDR and SEBI LODR Regulations for SME & Mainboard companies preparing for public listing.
A company’s website plays an important role during the IPO and listing process. For a company preparing to file its Draft Red Herring Prospectus (DRHP) or Red Herring Prospectus (RHP), the website is an important source of information for investors, analysts, regulators, and other stakeholders.
A well-maintained website should provide clear, accurate and up-to-date information about the company, its business, management, financial performance, corporate governance and IPO.
Website disclosure requirements can broadly be divided into two stages:
The requirements at these two stages are different. Before listing, the focus is primarily on making relevant IPO and corporate information accessible and ensuring consistency with regulatory filings. After listing, additional website disclosure requirements apply to listed entities under the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR).
Maintaining a compliant and informative website is an important part of IPO readiness. It helps investors and other stakeholders access key information about the company and its proposed public issue.
Key benefits include:
For an IPO-bound company, website readiness should therefore be treated as part of the overall IPO preparation process rather than as a last-minute task.
Maintaining a compliant and informative website is an important part of IPO readiness. It helps investors and other stakeholders access key information about the company and its proposed public issue.
At the DRHP/RHP stage, the website should present clear and relevant information about the company, its business, management and operations.
The homepage is generally the first point of interaction for investors and other stakeholders.
An IPO-bound company's homepage, whether mainboard or SME, should have a professional and clear presentation of the business. It may include:
The homepage should provide a clear understanding of what the company does and make important investor-related information easy to find.
The About Us section should provide comprehensive and updated information about the company and its operations.
Company Information
The website should include:
Board of Directors
The website should provide relevant information about the company's Board of Directors, including:
The Board information should be updated whenever there is a change in the composition of the Board or the relevant details of a director.
For an IPO-bound company, the Investor Relations (IR) section is one of the most important sections of the website. It should provide investors with easy access to key IPO, financial, corporate governance and statutory information.
All information and documents published on the website should be accurate, current and consistent with the corresponding disclosures and filings made with SEBI, ROC and other applicable authorities.
The Investor Relations section should provide the relevant documents relating to the proposed public issue, including:
The website should provide the company's annual filings for the last three financial years, to the extent disclosed in the DRHP and applicable offer documents.
Audited financial statements for the last three financial years and Stub-period / interim financial statements, wherever applicable.
Where the company has subsidiaries, relevant financial information and financial statements of such subsidiaries should be made available, wherever applicable.
The company should provide relevant information about its group companies, particularly those with which the company has entered into related-party transactions or has other material relationships requiring disclosure.
The website should provide applicable corporate codes and policies required under SEBI regulations, the Companies Act, 2013 and other applicable laws.
The Investor Relations section should provide the relevant shareholding pattern, including Pre-IPO shareholding pattern & Post-IPO shareholding pattern, where applicable.
The website should provide details of the composition of the Board and applicable Board committees, including the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee, where applicable.
Corporate Social Responsibility - Disclosures of contents of CSR Policy and Annual Report on CSR Activities.
An IPO-bound company should provide investors with a clear and easily accessible mechanism for raising queries, submitting complaints and seeking assistance.
The website should clearly display the details of the persons and entities responsible for handling investor communication and grievances.
The company should provide the following details of its Compliance Officer: Name, Official email address & Contact number.
Where an RTA has been appointed, the website should provide: the name of the Registrar & Transfer Agent, the official email address & Contact number.
The company should provide a dedicated email address for investor complaints and queries.
The website should clearly explain the process for raising and resolving investor grievances.
The Contact Us page should provide complete and up-to-date contact information for the company.
Once a company is listed, its website becomes subject to additional disclosure requirements under the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR).
The key website disclosure requirements can be broadly grouped into the following categories:
Consult with our expert IPO advisory desk to carry out eligibility checks, financial auditing alignment, and mandatory website disclosure developments.
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