IPO Dashboard

IPO type

  • Varmora Granito

    24 Sep · ₹140 - ₹148

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  • ArMee Infotech

    25 Sep · ₹350 - ₹375

    Apply
  • SME

    Axiom Gas Engineering

    22 Sep · ₹51 - ₹54 · 0.86x

    Apply
  • SME

    FX Multitech

    23 Sep · ₹110 - ₹116 · 0.27x

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  • SME

    Robokidz Eduventures

    23 Sep · ₹100 - ₹106 · 8.57x

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  • SME

    Vivekanand Cotspin

    23 Sep · ₹32 - ₹37 · 0.07x

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  • SME

    Anand Seamless

    24 Sep · ₹72

    Apply
  • SME

    Himalaya Nutravedics

    24 Sep · ₹100 - ₹106

    Apply

IPO data is sourced from the exchanges and refreshed through the day. Subscription figures are indicative and may lag the exchange feed. This page is for information only and is not investment advice.

IPO guide: what an IPO is and how to apply for one

Whether you are tracking an open IPO, waiting on an upcoming issue or checking an allotment status, it helps to know what you are actually buying. This guide covers how an initial public offering works in India, who can apply, what to check before you do, and what happens between your application and listing day.

What is an IPO?

IPO stands for Initial Public Offering — the first time a private company sells its shares to the public and lists them on a stock exchange like the NSE or BSE. Before the IPO, the company is owned by its promoters, employees and a handful of private investors. After it lists, anyone with a demat account can buy and sell its shares.

Almost every Indian IPO is a book-built issue. The company and its merchant bankers publish a price band — say ₹79 to ₹84 a share — and you place a bid anywhere inside it, in multiples of a fixed lot size. Once bidding closes, the final issue price is discovered from where the demand actually landed. Most retail investors simply bid at the cut-off price, which means accepting whatever price is finally set.

Price band
The floor and ceiling you can bid between. The final issue price is fixed within it after bidding closes.
Lot size
The smallest number of shares you can apply for. You bid in whole lots — one lot, two lots — never in odd quantities.
Cut-off price
A retail-only option to accept the final discovered price, so your bid stays valid however the book fills.
DRHP and RHP
The draft and final offer documents filed with SEBI. The RHP carries the price band, risk factors and audited financials.

Why do companies go public?

An IPO is how a company raises money without borrowing it. Capital raised through a fresh issue goes onto the balance sheet and never has to be repaid, which is why growing businesses use it to fund new plants, repay expensive debt or expand into new markets. The RHP's 'objects of the issue' section states exactly where the money is going — worth reading, because it tells you whether you are funding growth or someone's exit.

Not every rupee reaches the company. In an offer for sale, existing shareholders sell part of their stake and the proceeds go to them, not the business. Most Indian IPOs are a mix of both. Listing also gives early backers a way to exit, creates a traded share price the company can use to pay for acquisitions or reward employees, and brings the disclosure obligations that come with being a public company.

Why should you invest in an IPO?

An IPO is the earliest point at which a public investor can own a business — before it has a trading history, and at a price set by the book rather than by the market. For a company you have researched and want to hold for years, that access is the real argument. Listing gains, when they come, are a bonus rather than the reason.

They are also not guaranteed. Plenty of issues list below their offer price, and an oversubscribed book is a measure of demand on one day, not of the business underneath it. Treat an IPO the way you would any other equity purchase: decide what the company is worth to you, apply if the price is sensible, and size the position so a weak listing does not hurt.

Early access
Buy at the issue price alongside institutions, rather than after the market has repriced the stock.
Transparent pricing
The price band, financials and risk factors are all published in the RHP before you commit a rupee.
Your money stays with you
Funds are only blocked in your bank account, not debited, and earn interest until shares are allotted.
Real risk
Listing gains are not assured, allotment is not guaranteed, and a newly listed share can be volatile for months.

Who can apply for an IPO?

Any resident Indian aged 18 or over with a PAN, a demat account and a bank account linked to UPI or ASBA can apply for an IPO. NRIs can apply too, through an NRE or NRO account on a non-repatriable or repatriable basis depending on the issue. Minors can be allotted shares through a guardian-operated demat account, using the minor's own PAN.

Applications are grouped into categories, and each has its own share of the issue and its own odds. Only one application is allowed per PAN — multiple applications from the same PAN are rejected outright, so a family applying together must use a separate PAN and demat account for each person.

Retail individual investor
Applications up to ₹2,00,000. Oversubscribed retail portions are allotted by computerised lottery, so one lot is the efficient bid.
Non-institutional investor (HNI)
Above ₹2,00,000, split into small and big NII buckets. Allotment here is proportionate, not a lottery.
Qualified institutional buyer
Mutual funds, insurers, banks and foreign portfolio investors bidding for the institutional portion.
What you need
PAN, an active demat and trading account, and a UPI ID or bank account that supports ASBA.

Factors to consider before you apply for an IPO

An IPO is a share purchase, not a lottery ticket. These are the checks worth running before you place a bid.

  1. 1

    Read the RHP, not the headlines

    The red herring prospectus carries audited financials, the objects of the issue and a risk factors section the company is legally obliged to be candid in. It is the only document written under that obligation.

  2. 2

    Check revenue and profit trend

    Three years of growing revenue with thinning margins tells a very different story from steady, profitable growth. Look at cash flow from operations too — profit that never turns into cash is a warning.

  3. 3

    Compare the valuation to listed peers

    Work out the P/E at the upper price band and hold it against companies already trading in the same business. An issue priced well above its peers needs a reason, and the RHP should give you one.

  4. 4

    See how much is fresh issue vs offer for sale

    Fresh issue money funds the business. Offer-for-sale money pays exiting shareholders. A large OFS is not automatically bad, but you should know which one you are funding.

  5. 5

    Look at promoter holding and any pledge

    Promoters keeping a meaningful stake after listing signals confidence. Pledged promoter shares are a stress signal worth understanding before you apply.

  6. 6

    Watch the subscription figures

    The board above shows how many times each issue has been bid for. Strong institutional demand is informative, but remember it measures appetite on the day, not the quality of the business.

  7. 7

    Know the difference between mainboard and SME

    SME IPOs list on NSE Emerge or BSE SME, carry much larger lot sizes, trade far less frequently and are typically a higher-risk proposition than mainboard issues.

  8. 8

    Treat grey market premium with caution

    GMP is an unofficial, unregulated price quoted outside the exchanges. It is not a forecast, it carries no protection, and it should never be the reason you apply.

What happens after you apply for an IPO?

From the moment your bid is submitted to the day the share starts trading, here is the sequence — and where your money sits at each stage.

  1. Funds are blocked, not debited

    Approve the UPI mandate your bank sends, or submit an ASBA form, and the application amount is ring-fenced in your account. It stays yours, and keeps earning interest, until allotment is finalised.

  2. Bidding closes and the book is built

    Once the issue shuts, the registrar collates every valid bid and the final issue price is fixed within the price band. You can modify or withdraw a retail bid any time before the exchange cut-off.

  3. Basis of allotment is finalised

    If the retail portion is oversubscribed, allotment runs as a computerised lottery in which every applicant is considered for a single lot. Applying for more lots does not improve your chance of getting one.

  4. Shares are credited, or your money is released

    Allotted shares land in your demat account. Where you were not allotted, or were allotted partially, the blocked amount is unblocked and available again — usually within a day of allotment.

  5. The share lists and starts trading

    Indian IPOs now list within three working days of the issue closing (T+3). From the opening bell it trades like any other share, and you can hold it or sell it as you choose.

IPO questions

IPO, explained

How applying, allotment and listing work — and what the numbers on this page mean.

An Initial Public Offering is the first time a company sells its shares to the public. You bid for shares within a price band during the issue window; if shares are allotted to you, they are credited to your demat account before the company lists on NSE or BSE.

Open a GoPocket demat and trading account, then apply from the GoPocket app or web terminal. Pick the issue, choose your lot quantity and bid price, and approve the UPI mandate sent to your UPI app. The application amount stays blocked in your bank account until allotment.

Pre-apply lets you place your bid before an issue formally opens. Your order is queued and submitted to the exchange the moment bidding starts, so you do not have to be at your phone when the window opens. Where an issue supports it, the option appears when you apply in the GoPocket app or web terminal.

No. Applying for an IPO through GoPocket is free, with no application or allotment charges. Standard brokerage and statutory charges apply only when you later sell the allotted shares.

Mainboard IPOs are larger companies listing on the primary NSE and BSE platforms, with a minimum application of roughly ₹14,000–₹15,000. SME IPOs are smaller companies listing on the NSE Emerge or BSE SME platforms; lot sizes are much bigger, so the minimum application typically starts around ₹1,00,000–₹2,00,000. Use the IPO type filter above to see one or the other.

It shows how many times the shares on offer have been bid for. A figure of 8.30x means bids were received for 8.3 times the shares available. When an issue is oversubscribed, allotment in the retail category is decided by a computerised lottery, so a larger application does not improve your odds of getting one lot.

Once allotment is finalised, use the 'Check allotment status' link on any closed IPO above. It takes you to the registrar's site — KFintech, Bigshare or Link Intime — where you can look up your status with your PAN or application number. Allotted shares are credited to your demat account a day or two before listing.

Yes. You can modify or withdraw a retail application any time before the issue closes, subject to the exchange cut-off time shown against each investor category. Once the window shuts, applications are final and the blocked amount is released only if shares are not allotted to you.

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