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IPO Transaction Advisor & Project Management for a Defense Products Manufacturing Company
A manufacturer of defense equipment including ammunition components, personal protection products and protection kits for land, air and sea platforms required support for a time-sensitive IPO project execution, through to listing. We were onboarded to take ownership and drive the IPO project in all aspects from kick-off to listing.
Business Background
A 40-year legacy
Family-owned with no external investors
Highly supportive founders focused on the IPO project.
Thin internal teams with limited public markets background and bandwidth
Ask
Take ownership and serve as the single point of contact for all IPO-related matters
Serve as the single point of contact for all IPO-related activities (strategic and operational).
Guide and mentor internal teams on all aspects around the IPO project. Free up internal resources by taking complete charge of the IPO process.
Advise & support the founders and management on critical IPO-specific matters, e.g., capital structure, KPIs, objects, intermediary appointments, etc.
Manage all aspects of the data room.
Ensuring the DRHP (Draft Red Herring Prospectus) is filed by the target deadline of within 3 ½ months.
Execution
An experienced and dedicated team was appointed as the single point of contact for all intermediaries establishing a clear project plan, schedule, and scope boundaries.
'Long lead' items were prioritised and proactive identification of potential bottlenecks was done maintaining alignment among all stakeholders to stay on track with the project timeline.
A leadership group comprising key stakeholders was formed to make timely decisions and implement necessary course corrections as required.
A bi-weekly status and progress review and planning system was implemented to ensure alignment with the desired timelines.
Close collaboration with the founders, provided a comprehensive and practical perspectives (beyond simple coordination) on comments and queries raised by intermediaries such as BRLMs, legal counsel, auditors, and others. This approach allowed us to address matters in a practical and time-sensitive manner
Collaborations with all stakeholders enabled thorough reviews and finalisation of various sections of the DRHP, ensuring the drafts were completed on schedule.
Practical insights and solutions ensured that multiple conflicts were resolved, and the project progressed smoothly.
Impact & Outcome
Examples of insights & solutions
Supported management in identifying key performance indicators (KPIs) for IPO disclosures by conducting a thorough benchmarking analysis against peers and industry standards..
Given the company’s 39+ years’ history, compiling necessary documents and evidences for due diligence in a time bound manner required extensive focus, collaboration and solutioning.
Managed the project and worked with the ICE expert to finalise the necessary documentation for the objectives, including the preparation of a Detailed Project Report (DPR).
Enhanced corporate governance structures by conducting benchmarking analysis and implementing best practices.
Outcome
- The DRHP was filed within the scheduled timeline of 3 ½ months (within 81 days from kick-off).