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Pre-IPO Companies are private firms who intend to have a listing on the stock market leaderboard. In India that would mean being listed on the NSE or BSE or both. Once listed on the stock market, these companies are referred to as publicly listed companies. Such firms will have an Initial Public Offering to enable private investors to buy shares/stock of the company. Securities in perspective, companies who have opened their IPO but have not yet been listed on the stock market or have not yet made an Initial Public Offering are referred to as Unlisted/Pre-IPO shares.
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In very simple terms, unlisted shares refer to the stocks of the companies that are not listed on any stock exchange. Unlisted (Pre-IPO) shares, on the other hand, are public offerings to raise funds ahead of the IPO launch.