IPO Readiness Check

Why we ask: legal form and asset scale decide which routes are open — including the SME route (Acceleration Board). S10

Is the company an Indonesian PT?

Total assets (IDR)

Controlled by a large group?

Parent with assets > IDR 250 bn or controller of a non-SME issuer. S10

Why we ask: IDX counts operating months and audited years — the one clock you can't accelerate. S2

Time operating in the core business (with revenue)

Audited financial statements available

Unqualified audit opinions for the last 2 years?

Positive retained earnings?

New 2026 Main Board test. S1S3

Why we ask: each board has alternative financial size tests — you only need to pass one. S2

Pre-tax result, last financial year

Net tangible assets (NTA)

Expected market capitalisation at IPO

Planned raise

Why we ask: high-growth tech companies have extra options; loss-makers need a credible path to profit. S8S6

Tech-driven product/service innovation?

Revenue CAGR ≥ 30% (last 3 years)?

When is operating profit realistic?

The exchange requires operating-profit projections from loss-makers. S6S11