When to apply for an IPO
A common belief is that applying early improves the chance of an allotment. In India's IPO process, it does not.
Timing does not change the draw
Every valid application made during the bidding period goes into the same allotment process. The retail draw does not favour early applications, and there is no first-come-first-served.
Why waiting can help
Subscription figures are published through the bidding period. By the last day you can see how strongly institutions and HNIs have bid, which some people use in deciding whether to apply at all.
Why the last afternoon is risky
UPI mandates must be accepted by 5 PM on the closing day. On the last afternoon, mandate requests are often slow, and a late or failed mandate means the bid does not count. Applying on the last morning, or the day before, leaves time to fix problems.
Pre-applying
Some brokers let you place a bid before the issue opens; it is sent to the exchange when bidding starts. It is convenient but does not improve your odds.
Related guides
- The IPO UPI mandate, explained
- How to improve your chances of an IPO allotment
- What is IPO subscription (times subscribed)?
More on applying for an ipo
- How to apply for an IPO in India
- Can family members apply for the same IPO separately?
- What the cut-off price means in an IPO
- How to modify or cancel an IPO bid
- Applying for an IPO through net banking (ASBA)
- Pre-applying for an IPO
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Information, not investment advice. GMP is an unofficial grey-market indicator; figures come from public sources (InvestorGain) and may be late or wrong. Not registered with or affiliated to SEBI, the exchanges, the registrars or InvestorGain.