IPO guides

How Indian IPOs actually work — written plainly, without the hype.

• What is GMP (Grey Market Premium)?

  GMP is an unofficial price quoted in an informal market before a share lists. It is widely watched, entirely unregulated, and frequently wrong.

• What is a DRHP and an RHP?

  The DRHP is a company's draft filing with SEBI; the RHP is the final version carrying the price band. Both are public and free.

• How IPO allotment works

  When an IPO is oversubscribed, retail allotment becomes a lottery for one lot each. Applying for more does not improve your odds.

• How to apply for an IPO in India

  You need a demat account and either a bank ASBA facility or a UPI ID. Money is blocked, not debited, until allotment.