IPO vs NFO: What’s the Difference? IPO vs NFO: What’s the Difference? When it comes to investing, you may have heard the terms IPO (Initial Public Offering) and NFO (New Fund Offer). Kiran Shroff / Monday, February 17, 2025 / Article rating: 5.0 Both are methods that companies or funds use to raise money, but they are quite different in how they work.