What is the preliminary prospectus in an IPO process called?

The preliminary prospectus in an IPO process is called the Draft Red Herring Prospectus (DRHP).

It is the initial offer document submitted by a company to the Securities and Exchange Board of India (SEBI) for approval before launching an Initial Public Offering (IPO).

The DRHP contains key details about the company, including its business operations, financials, risk factors, IPO objectives, and industry outlook. However, it does not include the final issue price or share allocation details.

Once SEBI reviews the DRHP and provides feedback, the company incorporates necessary changes and files the updated version, known as the Red Herring Prospectus (RHP), before proceeding with the IPO.