When a company is going for an IPO the company is supposed to submit a Preliminary document to the regulator(SEBI) for approval. this document is called Red Herring Prospectus. this document does not have all the details like the price band, Lot of the IPO and other IPO details but gives preliminary information about the company and the IPO objectives.
The price details and other details are finally submitted in the Final offer document in case of a Book building process and the price in case of book building is not fixed initially and can only be decided after the closure of IPO subscription period and preparing the basis of allotment.
