As the name suggests, it is the draft of the offer document for an IPO (Initial Public Offering). It is the first ever document submitted by the company to SEBI (Securities and Exchange Board of India) for approval.
Points to remember:
This document are to be filed with SEBI (Securities and Exchange Board of India) at least before 21 days of filing it with ROC/SE.
SEBI takes approximately 30 days to process draft offer document.
The changes specified by SEBI in the draft should be done by the issuer before filing it with ROC/SE.
The draft document is available for review by the public for 21 days prior to filing it with SEBI on the website of SEBI.