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June 14, 2026
The Dispatch

Definition

Roadshow (IPO)

A roadshow is the series of presentations the company and its bankers make to institutional investors to market an upcoming IPO.

During the roadshow, management and the BRLMs meet large prospective investors — mutual funds, insurers, FPIs — to explain the business, answer questions and gauge appetite ahead of pricing. The feedback helps set the price band and identify potential anchor investors.

Roadshows happen after the DRHP filing and before the issue opens. SEBI restricts what can be said publicly during this period to whatever is in the offer document, to prevent selective or misleading promotion of the issue.

Related terms

  • Anchor InvestorAnchor investors are large institutional investors who are allotted IPO shares a day before the issue opens to the public, lending credibility to the offering.
  • Merchant Banker / BRLMA merchant banker, acting as Book Running Lead Manager (BRLM), is the SEBI-registered intermediary that manages an IPO from filing to listing.
  • Price BandA price band is the maximum permissible price movement, expressed as a percentage above and below a reference price, within which a security may trade during a session before being frozen.

Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.