A Follow-on Public Offering (FPO) is a financial maneuver employed by a publicly traded company to secure additional capital. Unlike an Initial Public Offering (IPO), which marks a company's first foray into the public market, an FPO involves a company that is already listed on Stock exchanges. During an FPO, the company issues new shares to the general public or institutions, thereby raising fresh capital at short notice as the process of FPO can be completed in much shorter time than an IPO or an rights.  There are a lot of eligibility criteria prescribed by exchanges for companies which can come out with FPO's and are subject to their approvals .