How an IPO works, step by step
- Bidding (usually 3 working days): apply through ASBA net banking or a UPI-enabled broker app.
- Close (T): the last day to bid and approve your UPI mandate, usually by 5 pm.
- Allotment (T+1): the registrar finalises who gets shares; retail allotment is by lottery when oversubscribed.
- Refunds and demat credit (T+2): blocked money is released if you get nothing; shares reach your demat account.
- Listing (T+3): shares start trading on NSE and BSE.
Investor categories
| Category | Who | Allotment |
|---|---|---|
| Retail (RII) | Individuals bidding up to ₹2 lakh | Lottery of minimum lots when oversubscribed |
| Small NII (sNII) | Individuals bidding ₹2–10 lakh | Lottery of the minimum sNII application size |
| Big NII (bNII) | Bids above ₹10 lakh | Lottery of the minimum bNII application size |
| QIB | Mutual funds, insurers, banks, FPIs | Proportionate |
| Employee / shareholder | Eligible employees or shareholders, if reserved | As per the offer document |
Latest IPOs
SMC Global Securities, Bonfiglioli Transmissions, Sahajanand Medical technologies, Shellz India, Tonbo Imaging India, Zetwerk Manufacturing Businesses, Jio Platforms, Paras Healthcare, Abakkus Asset Manager, Advanced Sys-Tek, Advanta Enterprises, AGS Health. See each page for dates, subscription by category and the allotment link.
Frequently asked questions
How do I apply for an IPO in India?
Apply through your bank's net banking (ASBA) or your broker's app using UPI. Choose the number of lots, bid at the cut-off price if you are a retail investor, and approve the UPI mandate before the issue closes. The money stays blocked in your account until allotment.
When are IPO shares allotted and listed?
Under SEBI's T+3 timeline, allotment is usually finalised the working day after the issue closes, refunds and demat credits follow the next day, and the shares list on the third working day after closing (T+3).
What does an IPO subscription of 20 times mean?
Investors bid for 20 times the shares on offer. In the retail category, when an issue is oversubscribed, allotment is by lottery: roughly one in 20 minimum-lot applications would get shares.
What is the difference between a mainboard and an SME IPO?
Mainboard IPOs list on the main NSE and BSE platforms. SME IPOs are smaller issues that list on NSE Emerge or BSE SME, usually with larger minimum investments, fewer disclosures and lower liquidity.
How do I check my IPO allotment status?
On the registrar's website or the BSE or NSE status page, using your PAN, application number or demat account. Our allotment status page lists the right official link for each IPO.
Where does this IPO data come from?
From ipos.markets, which republishes official NSE, BSE and SEBI data. We refresh it every 15 minutes. Always confirm final figures on the exchange or registrar website.
Dates in the calendar can change; the data was last refreshed 19 Oct 2026.