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A Red Herring Prospectus (RHP) is an updated version of the Draft Red Herring Prospectus(DRHP) filed by a company planning to raise funds through an Initial Public Offering (IPO). It provides comprehensive details about the company's business, financials, management, growth potential, and investment risks.
The RHP includes important information, such as an industry overview, IPO dates, issue size, and allocation methods for investors. However, it does not contain the final issue price and share allocation details, which are determined later.
In India, the Securities and Exchange Board of India (SEBI) reviews the DRHP before the company submits the final RHP. Once the IPO price and allotment details are finalized, the RHP is converted into a full prospectus in collaboration with SEBI, the Registrar of Companies (ROC), and the stock exchanges.
