With young companies, the lead underwriter helps management figure out how to package its image and tell its story during the pre-offering road show conducted to drum up interest among institutional buyers. The bank also assists in deciding how many shares to sell and at what price. The reputation of the best investment banks assures would-be investors that your deal is probably worthwhile. If you chose a no-name bank, your IPO may get a riskier rating. Make sure that all the IPO team members are pulling their weight.
Delays can pile up if one member is holding up the team.
Your company's descriptive and financial information is audited by lawyers and accountants. It is accompanied by your company's income statement and balance sheet. This is where a good internal control and reporting system makes all the difference. You will have the figures ready for your advisers. People experienced in the IPO process report that the final draft meeting can take forever.