In a layman's language an initial public offer or an IPO is the first time when a company issues shares to Public. Before an IPO a company generally has few shareholders but when it decides to get listed on a stock exchange and to go public it takes the route of IPO.
source https://www.caclubindia.com/articles/ipo-45862.asp
source https://www.caclubindia.com/articles/ipo-45862.asp
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