An Initial Public Offering (IPO) is the process through which a private company offers its shares to the public for the first time. It marks the transition from a privately held entity to a publicly traded company. Companies opt for IPOs to raise capital for expansion, reduce debt, or enhance their public profile. The IPO process involves appointing investment bankers, filing a draft red herring prospectus (DRHP) with SEBI, getting approvals, and marketing the offer. Investors can apply for IPO shares through ASBA-enabled bank accounts or online platforms. The shares are allotted based on demand and availability, and listed on stock exchanges post-allotment. IPOs are classified as fixed price or book-building offers. Understanding fundamentals like price bands, lot size, and grey market premiums helps investors make informed decisions. While IPOs can offer strong listing gains, they also carry risks if the company is overvalued or lacks strong financials. This section explores the entire IPO lifecycle—from planning and pricing to listing and performance analysis. It also touches upon regulatory aspects and recent trends in the Indian IPO space. For beginners, it demystifies IPO participation and helps build confidence to invest in upcoming public offerings.