A Red Herring Prospectus is an important document issued by a company when it proposes to raise funds from the public through an initial public offer (IPO) or further public offer (FPO). Under the Companies Act, 2013, a Red Herring Prospectus is defined under Section 2(72) as a prospectus which does not include complete particulars of the quantum or price of the securities included therein. It is therefore a preliminary prospectus containing substantial information about the company and the proposed issue, but certain final details, particularly the price or quantity of securities, may not yet be specified. The main purpose of a Red Herring Prospectus is to provide potential investors with adequate information to make an informed investment decision before the final terms of the issue are determined. It generally contains information regarding the company's history, business activities, promoters, management, financial position, capital structure, objects of the issue, risk factors, pending legal proceedings, material contracts and other