IPOs generate a lot of excitement whenever they are announced. With the Nykaa fever just behind us, you must be wondering if you missed the bus. Here’s what you should know about an IPO before applying for one the next time it’s announced.  1. Understand what an IPO is – It is a process whereby a privately held company offers its share to the public for the first time. It is also when promoters, angel investors, venture capital firms, and private equity firms typically sell their stakes.  You should look at major stakes in the company: who is exiting and what part of the money is being …