The IPO T+3 timeline: what happens on each day after closing
Indian IPOs follow the T+3 timeline: the share lists on the third working day after the issue closes. T is the closing day. Knowing the timeline tells you when to look for the allotment, the refund and the shares.
Day by day
T (closing day): the last day to bid. UPI mandates must be approved by the cut-off time that day.
T+1: the registrar finalises the basis of allotment. Allotment results usually appear on the registrar's website in the evening or late at night.
T+2: shares are credited to the demat accounts of allottees, and money blocked for applications that got nothing is released.
T+3: the share lists on the exchange and starts trading after the pre-open session.
Working days, not calendar days
The count skips weekends and exchange holidays. An IPO closing on a Friday usually has its allotment on Monday and lists on Wednesday.
Where IPO Khata shows these dates
Every IPO's dates page lists the opening, closing, allotment, refund, credit and listing dates. IPO Khata looks up allotment results from the evening of the allotment day and emails them to each family.
Related guides
- What time does the IPO allotment result come out?
- IPO money still blocked? What to do
- IPO shares not showing in your demat account
More on how ipos work
- IPO lot size, price band and cut-off price explained
- SME IPO vs mainboard IPO: what is different
- IPO categories explained: retail, HNI (NII) and QIB
- Anchor investors in an IPO
- DRHP, RHP and prospectus: what to read before an IPO
- The shareholder quota in 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.