Pre-applying for an IPO
Several broker apps let you 'pre-apply' for an IPO a few days before bidding opens. It is a convenience, not a priority lane.
How it works
You fill in the bid in the broker app in advance. The broker holds it and sends it to the exchange when bidding opens. The UPI mandate request then arrives, usually on the opening day, and must be accepted as with any bid.
What it does not do
It does not improve the chance of an allotment: early and late bids are treated the same. And until the mandate is accepted, the bid is not complete.
Things to watch
Keep the bank balance available on the opening day and look out for the mandate. If the price band or lot size is announced after you pre-apply, check that your bid still matches it.
Related guides
More on applying for an ipo
- 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)
- Borrowing to apply for an IPO
- Who can apply for an IPO: spouse, parents, minor, HUF
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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.