IPO & Debt Capital Markets (DCM) Readiness


 
 
  Shasat Consulting  ·  Capital Markets Advisory

IPO & Debt Capital Markets Readiness — Building the Foundation Investors Demand

Shasat Consulting supports organisations preparing to access equity and debt capital markets, advising boards, CFOs and sponsors on the financial reporting, accounting, governance, valuation and controls required for Initial Public Offerings (IPOs), secondary equity issuances, and bond listings on the LSE, Euronext and beyond. We are independent, conflict-free and advisory-only.

Book a Readiness Consultation → Our Methodology
IPO
Readiness
Assessment · Financial track record · Governance
Debt Capital Market
Offering preparation · Listing execution — LSE, Euronext, NASDAQ, NYSE
SOX Readiness
ICFR design · Testing · Remediation
SEC Reporting
Registration statements · S-X compliance · Periodic filings
IPO Readiness DCM Advisory IFRS  & US GAAP Conversion Exchange and Regulator expectations Reporting Framework Design  
 
Independent  ·  Anlaytical  ·  Experienced
London Stock Exchange  ·  Euronext
NASDAQ  ·  NYSE  ·  Global Exchanges
Capital Markets Readiness

Preparing Organisations for the Scrutiny of Public Markets

Capital markets require financial discipline, governance rigour and reporting transparency that exceed private company standards. Shasat acts as an independent advisor, working alongside investment banks, legal counsel and auditors to ensure organisations are technically prepared, financially robust and institutionally credible before engaging investors, regulators and exchanges. We provide advisory services only and do not undertake underwriting, legal or audit mandates.

Investor-grade financial information that withstands regulatory and auditor scrutiny
Defensible accounting judgements — clearly reasoned and consistently applied
Robust ICFR, governance and audit committee frameworks for listed companies
Historic accounting issues identified and remediated before any transaction is launched
Consistent, comparable reporting ready for ongoing life as a public company
Valuation narratives and disclosures reviewable by auditors, investors and rating agencies
 
Two Practice Areas

Equity and Debt Capital Markets — Specialist Advisory Across Both

Whether you are preparing for an IPO or accessing the bond markets for the first time, Shasat brings deep technical expertise to the distinct requirements of each transaction type.

Equity Markets

IPO Readiness & Equity Issuance

Shasat supports management teams and boards through the full pre-IPO lifecycle — identifying and remediating readiness gaps early so that equity transactions are supported by robust financial information, defensible accounting judgements and credible governance structures that withstand investor, auditor and regulator scrutiny both at listing and throughout public company life.

IPO readiness assessments and gap analysis
Public-company financial reporting framework design
Complex equity structures and share-based payments (IFRS 2)
Group reorganisations and historical carve-out financials
Pro-forma financial information preparation
Accounting policy alignment across the group
Audit readiness, dry-runs and pre-listing reviews
Debt Markets

Debt Capital Markets (DCM) Readiness

Shasat supports first-time and repeat bond issuers in establishing the accounting, reporting, governance and risk frameworks required for successful issuance and ongoing compliance on the LSE and Euronext. Our focus is on preparing issuers not just for the transaction, but for the ongoing reporting, disclosure and governance obligations that persist throughout the debt security’s life cycle.

Bond issuance and listing readiness (LSE, Euronext)
IFRS, UK GAAP and US GAAP debt instrument accounting
Hybrid instruments and embedded derivative assessment
Effective interest rate (EIR) modelling
Hedge accounting and risk management (IFRS 9)
Covenant analysis and disclosure readiness
Rating agency and investor expectation alignment
Our Service Offering

What Shasat Delivers Across the Transaction Lifecycle

Independent advisory covering every technical dimension of capital markets readiness — from pre-transaction gap analysis through to post-listing compliance and ongoing obligations as a public company.

Service 01

IPO & DCM Readiness Assessment & Gap Analysis

Before any transaction process begins, Shasat conducts a structured readiness assessment across financial reporting, technical accounting, governance, controls, valuation and disclosure — benchmarked against the standards expected by regulators, exchanges, auditors and investors. We deliver a prioritised remediation roadmap with clear owners and timelines, and a written Capital Markets Readiness Report.

Deliverables
Financial reporting and accounting gap analysis
Governance, ICFR and controls readiness review
Valuation and disclosure readiness assessment
Prioritised remediation roadmap with timeline and owners
Exchange and regulator expectations benchmarking
Written Capital Markets Readiness Report
Who We Work With

Capital Markets Readiness Across Every Issuer Type

Shasat supports a diverse range of organisations and their advisors preparing to access capital markets — from high-growth businesses considering a first listing to established institutions managing complex DCM programmes.

Equity · IPO Candidates

High-Growth & PE-Backed Businesses

Private equity-backed and founder-led businesses planning a first public listing — needing to transform private-company reporting into investor-grade financials, establish governance, and ensure accounting judgements are robust before facing auditor and regulator scrutiny on the IPO timetable.

From readiness assessment through to listing-ready financials
Equity · Secondary Issuance

Listed Companies — Secondary Equity Raisings

Already-listed companies raising additional equity through rights issues, placings or follow-on offerings — requiring prospectus-ready financial information, pro-forma statements, and technical accounting support for any acquisition or group restructuring tied to the capital raise.

Pro-forma financials, disclosures and transaction advisory
Debt · Bond Issuers

Corporates & Financial Institutions — Bond Programmes

Corporates, banks, insurers and other financial institutions issuing and listing bond programmes for the first time — needing IFRS technical advisory on classification, EIR modelling, hedge accounting and the disclosure obligations associated with listed debt on the LSE or Euronext.

IFRS 9 / IAS 32 advisory and full listing documentation
Advisory · Sponsors & Transaction Teams

Investment Banks, Law Firms & PE Sponsors

Investment banks, PE sponsors and legal advisers requiring an independent, conflict-free accounting and valuation expert alongside the transaction team — providing technical credibility on complex financial reporting questions and supporting due diligence and prospectus processes.

Independent expert — no underwriting or audit conflicts
Our Approach

Our Capital Markets Advisory Methodology

A structured, phased approach that identifies and resolves readiness gaps long before they become transaction-critical issues — clear deliverables at every stage.

01

Readiness Assessment

Full gap analysis across reporting, governance, controls, valuation and disclosure. Written report delivered.

02

Remediation Planning

Prioritised workplan aligned to the transaction timetable — each gap mapped to owner, action and deadline.

03

Technical Implementation

Reporting frameworks, valuations, ICFR and governance structures designed, documented and implemented.

04

Pre-Transaction Review

Audit dry-runs, prospectus support and auditor and regulator liaison. Final sign-off readiness confirmed.

05

Post-Listing Support

Ongoing reporting, disclosure, technical accounting and governance advisory throughout the listing lifecycle.

 
Why Choose Shasat

Independent. Technical. Credible.

Four reasons why issuers, sponsors and advisers choose Shasat for capital markets readiness advisory over generalist providers.

01

Genuine Independence

Shasat provides no underwriting, legal or audit services — our only interest is the quality of your capital markets readiness. This allows us to give candid, objective assessments without the commercial conflicts that affect advisors with broader transaction roles in the same deal.

02

Deep Technical Expertise

Our consultants bring deep expertise across IFRS, UK GAAP and US GAAP; complex financial instruments and valuation; and capital markets regulation — providing technically rigorous advisory that withstands scrutiny from auditors, regulators and sophisticated institutional investors.

03

Global Reach, Local Knowledge

With offices in London, Dubai, Singapore and New York — and experience across 144+ jurisdictions — Shasat understands the exchange rules, regulatory expectations and investor norms of the LSE, Euronext, NASDAQ, NYSE and regional markets where clients seek to list or issue.

04

Long-Term Capital Markets Credibility

We focus on building sustainable capital markets credibility — not just closing a transaction. Shasat is recognised for sound professional judgement, transparency and long-term institutional quality, and our post-listing advisory ensures that discipline is maintained throughout the issuer’s public company life.

Common Questions

Frequently Asked Questions

What does IPO readiness actually involve? +

IPO readiness means ensuring your organisation meets the financial reporting, accounting, governance and controls standards expected of a public company — before entering the capital markets process. It involves gap analysis, remediation, framework implementation, technical accounting judgements, pro-forma financials and audit dry-runs. The goal is to eliminate surprises once the transaction is underway and public scrutiny begins.

How early should we begin IPO or DCM readiness work? +

For IPOs, readiness work ideally begins 12–24 months before the target listing date. Gaps in governance, financial reporting quality or accounting frameworks take time to address properly — rushed remediation creates execution risk and can delay or derail the window. For DCM transactions lead times are shorter, but early technical accounting and disclosure preparation still reduces execution risk significantly.

Does Shasat provide underwriting, legal or audit services? +

No. Shasat is a pure advisory firm — we provide no underwriting, investment banking, legal or statutory audit services. This means we operate without the commercial conflicts that arise when transaction advisors hold multiple roles on the same deal. We work alongside your investment bank, lawyers and auditors as a complementary, independent expert focused entirely on financial and accounting readiness.

Which accounting standards does Shasat advise on? +

Shasat advises across IFRS, UK GAAP and US GAAP — including IFRS 9 (financial instruments), IAS 32 (presentation), IFRS 7 (disclosures), IFRS 15 (revenue), IFRS 16 (leases), IFRS 3 (business combinations) and IFRS 2 (share-based payments). We regularly advise on dual and multi-standard reporting for issuers with cross-border listing obligations.

Which exchanges and jurisdictions does Shasat support? +

Shasat supports issuers preparing to list on the London Stock Exchange (LSE), Euronext, NASDAQ, NYSE and regional exchanges across 144+ jurisdictions. With offices in London, Dubai, Singapore and New York, we understand the specific exchange rules, regulatory expectations and investor norms that apply in each market and listing venue.

Related Consulting Services

Explore Shasat’s Broader Practice

📈
Transaction Advisory
M&A, due diligence, financial modelling and deal execution support.
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CFO Advisory
Finance function transformation and strategic finance leadership.
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Valuation Services
Independent equity, debt, intangible asset and financial instrument valuation.
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⚖️
Risk Advisory
Risk governance, analytics and enterprise risk framework design.
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Begin Your Capital Markets Journey

Ready to Prepare Your Organisation for the Public Markets?

Book a no-obligation consultation with our capital markets advisory team. We will assess your readiness position and provide a clear path to successful issuance — whether your target window is 12 months or 36 months away.

Book a Readiness Consultation → All Consulting Services
Global Capital Markets Advisory Cross Border Transactions Independent Advisory