Frequently Asked Questions

IPO Grey Market Premium (GMP) represents the price premium at which IPO shares or application forms trade unofficially in the unorganized over-the-counter market before the stock officially lists on the exchange. For instance, if an IPO's issue price band is ₹100 and its reported GMP is ₹25, the estimated listing price is ₹125 (+25%). Track live numbers on our IPO GMP Today tracker and read our In-Depth GMP Guide.

No. Grey Market Premium is strictly an informal and unofficial sentiment indicator. GMP does not guarantee that the stock will list at the estimated price. Broader market trends, global sentiment, subscription shifts, and institutional participation on listing day can cause actual listing prices to diverge significantly from earlier GMP quotes.

Kostak Rate: The fixed cash amount an investor earns by selling their entire IPO application to a grey market buyer before allotment, regardless of whether shares are allotted.

Subject to Sauda (Sauda Rate): An agreement where the buyer pays a negotiated profit to the applicant only if the application secures an allotment.

Retail investors can apply through their broker app (Zerodha, Groww, AngelOne, Upstox, etc.) by entering their UPI ID and approving the mandate in their banking app, or through Net Banking ASBA offered by banks like HDFC, ICICI, SBI, and Kotak. Check our step-by-step How to Apply for an IPO Guide.

No. SEBI and stock exchange rules permit only one application per PAN card. Submitting multiple bids under the same PAN card—even across different brokerage accounts or DP IDs—will result in all applications being rejected as duplicates. To increase your odds legitimately, apply through demat accounts of different family members with distinct PAN cards.

The maximum application amount for the Retail Individual category is ₹2,00,000. Applications exceeding ₹2,00,000 are automatically categorized under the Non-Institutional Investor (NII / HNI) category (sHNI for ₹2L–₹10L and bHNI for above ₹10L).

Under SEBI's T+3 listing regime, IPO allotment is typically finalized within 1 to 2 working days after the issue close date. You can check upcoming allotment milestones on our IPO Calendar.

You can verify allotment status through:

1. The official registrar portal (Link Intime, KFintech, Bigshare, Skyline, etc.) using your PAN or Application Number. Visit our centralized Allotment Status Directory.
2. BSE IPO Allotment page and NSE Allotment Verification portal.
3. Notification SMS and email from your bank regarding fund debit or mandate release.

If no shares are allotted, your bank unblocks the blocked application amount within 24 to 48 hours following the basis of allotment finalization. If your mandate block is not released after the scheduled refund date, submit a request with your bank or the issue registrar.

Mainboard IPOs list on the main exchanges (NSE and BSE) with post-issue capital exceeding ₹10 crore, minimum ticket size around ₹14,000–₹15,000, and shares trade in single units after listing.

SME IPOs list on specialized SME platforms (NSE Emerge or BSE SME) for smaller growth companies. The minimum application amount is ₹1,00,000 or more, and shares must be traded in mandatory lot multiples. Read our complete Mainboard vs SME IPO Guide.

Yes, but you can only buy or sell shares in whole lot sizes (e.g., lots of 1,000, 2,000, or 3,000 shares). Fractional lot selling is not permitted on SME exchanges, meaning each buy/sell transaction requires substantial capital.

Live subscription numbers, Grey Market Premium trends, IPO dates, and market news are updated continuously throughout the trading day. Check the IPO Directory and Live Subscription Tracker for current numbers.

No. IPO Premiums is an independent market research and data aggregation platform. We aggregate publicly filed documents, exchange data, registrar updates, and market reports for informational and educational use. Please review our Terms and Conditions.