{"id":11970,"date":"2022-05-30T18:42:07","date_gmt":"2022-05-30T13:12:07","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=11970"},"modified":"2022-07-14T16:36:24","modified_gmt":"2022-07-14T11:06:24","slug":"a-detailed-guide-on-the-difference-between-ipo-and-fpo","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/","title":{"rendered":"A Detailed Guide on the Difference between IPO and FPO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d41c2288340\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d41c2288340\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#What_is_an_IPO\" title=\"What is an IPO?\">What is an IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#IPOs_for_Qualified_Institutional_Investors_QII\" title=\"IPOs for Qualified Institutional Investors (QII)\">IPOs for Qualified Institutional Investors (QII)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#IPOs_for_companies\" title=\"IPOs for companies\">IPOs for companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#What_is_FPO\" title=\"What is FPO?\">What is FPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#What_are_the_different_types_of_FPOs\" title=\"What are the different types of FPOs?\">What are the different types of FPOs?<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#Dilutive_offering\" title=\"Dilutive offering\">Dilutive offering<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#Non-dilutive_offering\" title=\"Non-dilutive offering\">Non-dilutive offering<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#Difference_between_FPO_and_IPO\" title=\"Difference between FPO and IPO\">Difference between FPO and IPO<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#Which_is_better_for_investors_FPO_or_IPO\" title=\"Which is better for investors, FPO or IPO?\">Which is better for investors, FPO or IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#What_are_the_different_types_of_FPOs-2\" title=\"What are the different types of FPOs?\">What are the different types of FPOs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#What_is_the_lock-in_period_for_anchor_investors\" title=\"What is the lock-in period for anchor investors?\">What is the lock-in period for anchor investors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/#Interested_in_how_we_think_about_the_markets\" title=\"Interested in how we think about the markets?\">Interested in how we think about the markets?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">A company can go public by issuing new shares or diluting its existing shares. There are two ways of doing this \u2013 <a href=\"https:\/\/kuvera.in\/blog\/ipo-everything-you-need-to-know\/\">initial public offering (IPO)<\/a> or follow-on public offering (FPO). The first time a company offers its shares to the public, it is known as IPO, and when a company wants to raise additional funds, it offers its shares once again to retail investors. This is called a follow-on public offering.\u00a0<\/span><\/p>\n<p>In this blog, we will discuss the differences between IPO and FPO but before that, let&#8217;s see what FPO and IPO are?<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/kuvera.in\/explore\/fixed-deposit\/c\/all\"><img loading=\"lazy\" class=\"size-large wp-image-13417 aligncenter\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/FD-Banner_14-July-2022-1024x334.jpg\" sizes=\"(max-width: 640px) 100vw, 640px\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/FD-Banner_14-July-2022-1024x334.jpg 1024w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/FD-Banner_14-July-2022-300x98.jpg 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/FD-Banner_14-July-2022-768x250.jpg 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/FD-Banner_14-July-2022.jpg 1080w\" alt=\"Online Fixed Deposits on Kuvera\" width=\"640\" height=\"209\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_an_IPO\"><\/span>What is an IPO?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">An IPO is a private company offering its shares to the public by listing them on the <a href=\"https:\/\/app.kuvera.in\/explore\/stocks\/c\/all\">stock <\/a>exchange. This is because the company issues new shares to the public to raise equity capital. After IPO and subsequent listing, shares of the company are traded on a stock exchange.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Initially, a new company looks for seed funding which venture capitalists, angel investors, and PE firms provide. After the initial stability phase, companies go for an aggressive expansion that requires additional capital. They go for an IPO to raise that extra capital.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"IPOs_for_Qualified_Institutional_Investors_QII\"><\/span>IPOs for Qualified Institutional Investors (QII)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">This group includes commercial banks, public financial institutions, mutual fund firms, and foreign portfolio investors registered with SEBI. Underwriters focus on selling vast amounts of IPO shares to them at a profit even before the IPO begins. Selling shares to QIIs can help underwriters reach their target capital.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0To maintain the price volatility of the stocks during the <a href=\"https:\/\/kuvera.in\/blog\/everything-to-know-about-ipos-in-india\/\">IPO process<\/a>, SEBI mandates QIIs to enter a minimum 90-day lockup contract.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A company planning to go public benefits the most from institutional investors. Underwriters provide them with IPO shares before the <a href=\"https:\/\/app.kuvera.in\/explore\/stocks\/c\/all\">stock market<\/a> determines the price. The shares will fetch a higher price if QIIs purchase more of them as fewer shares will be available to the general public. This will help a business to raise maximum funds.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, SEBI has laid down rules to ensure companies do not distort the IPO valuations. The regulatory body does not allow companies to allocate more than 50% shares to QIIs.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"IPOs_for_companies\"><\/span>IPOs for companies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">An initial public offering (IPO) gives the company access to raising a large amount of money. It will be able to grow and expand more effectively as a result. In addition, the increased transparency and credibility of the share listing can assist it in obtaining better terms when seeking loans.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once a company believes it has matured enough to withstand the rigors of SEBI regulations and understands the responsibilities towards public shareholders, it will start advertising\u00a0 its interest in going public.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If a company has reached a private valuation of approximately $1 billion, a company is said to be a unicorn. Unicorns, by and large, are eligible for IPO.\u00a0 However, a private company with successful valuations and a proven history of profitability may also qualify for an IPO, depending on the market competition and its ability to meet listing requirements.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After listing on stock exchanges, these companies have to follow stringent guidelines of SEBI, India&#8217;s capital market regulator. These rules are meant to safeguard the interests of investors.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The new limits, for example, prohibit shareholders (individually or in concert) who hold less than 20% of a firm&#8217;s pre-IPO shares from selling more than 10% of the firm&#8217;s pre-IPO shares. If a person owns ten shares, they will be able only to sell one of them in a public offer.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Credit rating agencies registered with Sebi can now serve as monitoring agencies. As part of Sebi&#8217;s new requirements, the audit committee must now review 100% of the proceeds of an issue more frequently. Furthermore, issue proceeds for general corporate purposes would also have to be monitored, which was not previously required.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_FPO\"><\/span>What is FPO?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Follow-on public offering refers to the issuance of additional shares to the general public after a company has been listed on the stock exchange. This happens after a company has already made an initial offering. The main motive behind FPOs is the reduction of debt.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">A follow-on public offering is a next step for a company. Usually, a company launches an FPO after expanding and growing to become an established name. In the case of FPOs, companies may issue new shares and use the proceeds to manage their debt obligations.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_different_types_of_FPOs\"><\/span>What are the different types of FPOs?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"Dilutive_offering\"><\/span>Dilutive offering<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0Dilutive FPOs occur when a company wants to release more shares to pay off debts. However, in such instances, the company&#8217;s value remains unchanged, which results in lower per-share earnings.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"Non-dilutive_offering\"><\/span>Non-dilutive offering<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Over here, founders or major shareholders of a company may choose to sell some of their shares to the public. As a result, the proceeds go to the individuals selling their shares and not to the company, which means the per-share earnings remain untouched.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Difference_between_FPO_and_IPO\"><\/span>Difference between FPO and IPO<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Here are some differences between FPO and IPO:\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<table style=\"width: 100%;\" border=\"1.5\">\n<tbody>\n<tr>\n<td><b>Parameter<\/b><\/td>\n<td><b>IPO<\/b><\/td>\n<td><b>FPO<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Objective<\/b><\/td>\n<td><span style=\"font-weight: 400;\">A Company announces an initial public offering and offers shares to the general public with an aim to expand the business.\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Companies offer FPOs with the main aim of expanding their equity shareholders. Sometimes companies use this route to reduce the promoter shareholding.\u00a0\u00a0\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Performance<\/b><\/td>\n<td>Investors do not have any metric to gauge the performance of a company; they base their decision on a document named red herring prospectus that the company submits to SEBI. Moreover, investors judge a company on market interest. So it is difficult to predict an IPO\u2019s performance.<\/td>\n<td><span style=\"font-weight: 400;\">Once a company is listed on stock exchanges, investors get access to all the necessary information of the company. This allows them to assess the fundamentals of a company and decide whether they should go for buying its shares or not.\u00a0\u00a0\u00a0\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Profitability<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Proceeds received by investors from an IPO are more profitable than FPO. This is because the company is in an expansion or growth phase.\u00a0\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">In the case of FPO, investors will receive very low profits on their investment as a company issues FPO in its stabilization phase. So chances of exponential earnings are low.\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share capital\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">In case of an IPO, a company issues new shares for the general public. Hence, the number of shares increases along with the share capital.\u00a0\u00a0\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Follow on public offer comes after the IPO. The number of shares and share capital may increase or remain the same depending on the type of FPO the company is issuing. If it is non-dilutive in nature, shares will increase, and if it is dilutive in nature, shares will be the same.\u00a0\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Risky<\/b><\/td>\n<td><span style=\"font-weight: 400;\">IPOs are very risky in nature as investments are based on assumptions and speculations.\u00a0\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">On the other hand, FPOs are less risky as the companies launching an FOI are already established and are undergoing consolidation.\u00a0\u00a0\u00a0\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Company\u2019s status<\/b><\/td>\n<td><span style=\"font-weight: 400;\">The company was unlisted at the time of issuing the IPO. After the IPO, the company is categorised as listed on a stock exchange.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">As an FPO comes after an IPO, the company is already listed during FPO.\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Price\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">The price in the case of an initial offering is fixed or in a variable range. This value is derived by merchant bankers handling the transactions.\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Prices are dependent on the number of shares issued.\u00a0\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><b>Final Word<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>Both IPO and FPO are different ways of raising funds for companies. However, the key difference between IPO and FPO is in the method and timing of raising capital. Investors must go through all available information about a company before using their hard earned money to subscribe to them.<\/p>\n<p>&nbsp;<\/p>\n<p><b>Frequently Asked Questions<\/b><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"Which_is_better_for_investors_FPO_or_IPO\"><\/span>Which is better for investors, FPO or IPO?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Both these processes allow companies to raise capital and fulfil different objectives. Investors must analyse their investment goals and go for IPO or FPO according to the same. As IPO is slightly risky, risk averse investors may not enjoy putting their money in this.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"What_are_the_different_types_of_FPOs-2\"><\/span>What are the different types of FPOs?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">FPOs are of two types \u2013 dilutive and non-dilutive. In the case of the former, a company issues new shares, whereas in case of the latter, existing shareholders sell their shares to the general public.\u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"What_is_the_lock-in_period_for_anchor_investors\"><\/span>What is the lock-in period for anchor investors?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">According to SEBI regulations, anchor investors availing IPO subscriptions are required to follow a lock-in period of 30 to 90 days. A Lock-in period of 30 days exists for 50% of share allocation to anchor investors, and the remaining 50% shares must be offered with a 90-day lock-in period.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Interested_in_how_we_think_about_the_markets\"><\/span>Interested in how we think about the markets?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Read more: <a href=\"https:\/\/kuvera.in\/blog\/category\/zen-and-the-art-of-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Zen And The Art Of Investing<\/strong><\/a><\/p>\n<p>Watch\/hear on YouTube:<\/p>\n<p>&nbsp;<\/p>\n<p><iframe loading=\"lazy\" title=\"Kuvera Insights\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/videoseries?list=PLDSzQdT9nLmCysU31bg4Ngh7WY2p3UiiI\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit <a href=\"https:\/\/app.kuvera.in\/\"><strong>Kuvera.in<\/strong><\/a> to discover <a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\"><strong>Direct Plans<\/strong><\/a> and <strong><a href=\"https:\/\/app.kuvera.in\/explore\/fixed-deposit\/c\/all\">Fixed Deposits<\/a><\/strong> and <a href=\"https:\/\/kuvera.in\/user\/login\"><strong>start investing today.<\/strong><\/a><\/p>\n<p>#MutualFundSahiHai #KuveraSabseSahiHai!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A company can go public by issuing new shares or diluting its existing shares. There are two ways of doing this \u2013 initial public offering (IPO) or follow-on public offering (FPO). The first time a company offers its shares to the public, it is known as IPO, and when a company wants to raise additional [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/a-detailed-guide-on-the-difference-between-ipo-and-fpo\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":11972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[99,577],"tags":[867,844,868,845,571],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Detailed Guide on the Difference between IPO and FPO - Kuvera<\/title>\n<meta name=\"description\" content=\"There are two much popular way of listing or public issue of shares, they are IPO and FPO. 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