Can I revise or cancel my IPO application?
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- Updated On:19-Feb-2021
- Replies:1
Short Answer
There is a subscription period for every IPO. You can make the changes or cancel your IPO applciation within this period. Post this; there is nothing that can be done.
Detailed Answer
There is a slight chance of you revising or cancelling your IPO application provided that the IPO has still kept their subscription open. IPO isn't like a regular stock trading where you can simply sell and buy things as your wish. In an IPO, there are steps and procedures to be followed, which have a definitive meaning.
In an IPO, if you ever find yourself confused about whether you want to pull back from the IPO or merely cancel your application, then you can do so. You can fill in the revision form stating your interest in the change of cancelling action that you want to persevere for your IPO application. However do keep in mind that if the subscription or the change period is over, then you cannot do anything about the application.
Once you fill the form, you will have to submit it to the syndicate member to make all the changes you have entered in the application. Don't worry, all of this will not incur any changes; but then based on the IPO, the number of times this change is possible can be limited.
Bottom line
Making a change or cancelling the submitted IPO application depends on the IPO you have applied for. Typically many have a subscription period before which all necessary adjustments can be made. But after that, you cannot make any changes nor anything can be done about it.
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Discussion (0)
Yes, you can apply for an IPO application under a minor or HUF's name, provided they have different PAN card numbers. Minors can open a Demat account with their parent’s PAN Card and bank account.
The SEBI (Securities and Exchange Board of India) requires every IPO to get at least an overall 90% subscription to proceed to the allotment process. If an IPO fails to get a 90% overall subscription (including the QIB, NII, and Retail category) by the last day of the issue then the IPO is cancelled and the money collected from the investors is refunded back.
There are many ways to check the IPO allotment status but Zerodha doesn't provide this facility on their website.** To check the allotment status you can visit the website of the registrar of the IPO**, for example, Link Intime, Karvy. With the help of a PAN number, you can easily check the status.
Stoxkart online discount broker also provides IPO investment facility to clients. The best part is that stoxkart facilitates both the Indian as well as NRIs to invest in IPO online.
Investing in an IPO can be considered safe as there are no major Capital Loss risks and most companies that come up with an IPO price their shares at decent valuations which gives an opportunity to the investors get the shares at a discount from the market price. Most good quality companies also give good Listing gains and good returns in a short time. Some examples are, IRCTC, Route Mobile, Burger King, etc.
If you are a Zerodha customer, you can apply for IPO online through Zerodha Console (Zerodha Back-office). The process for applying an IPO process has been explained in detail above. Here are few other answers to important queries that you may want to learn.
Subscribing for an IPO with multiple accounts, avoiding last-day applications, and choosing minimum bids are few ways to increase IPO allotment chances.
IPOs can be a good option for beginners as they provide an opportunity to get the shares of good companies at an attractive price. Though IPOs can provide good listing gains and quick profits, good companies can help you to create massive wealth in the long term.
In an Initial Public Offering (IPO) a company sells its shares to investors in order to raise money. As a retail investor, you can apply for an IPO from the primary market in order to get the shares offered by the company. Once the shares get listed on the secondary market, you can sell your shares provided you have received an allotment in the primary issue.
There are few documents such as a photocopy of the IPO applciation, cheque copy, and the reference number of applciation if submitted online.