Can we apply for an IPO online on Sunday? Only 2 days are remaining can I apply on Sunday because I don’t want to apply on the last day?
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- Updated On:18-Mar-2024
- Replies:1
Short Answer
Yes, you can apply for an IPO application on Sunday as well but through an online application. But, you need to keep few points in mind before doing that.
Detailed Answer
There is no restriction as to when you can apply for an IPO. But do keep in mind that offline methods of applying for an IPO is dictated by the financial institutions or the broker work timings.
Most of the time, Sunday is off, and you won’t be able to do it. However, if you are applying online, then you can do so through ASBA. You don’t have to worry about the timings from the IPO application's intake (from 10 AM) to the very last day (4 PM); users can easily apply it online.
An IPO remains open for 3-10 days. During this time, stock exchanges allow applications on weekdays between 10am to 5pm. On public holidays and specific days on which exchange is closed, applications might not be accepted.
Though banks and brokers allow applications 24 hours, the exchange will only process between 10am-5pm. In the last couple of days of the IPO, every bank has provided a specific deadline after which it will close the window. The reason for doing this is because banks and brokers have to further process exchanges and that takes a lot of time.
Keep in mind that the application will be processed on the next working day if you apply on a Sunday.
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IPO prospectus is the document which gives information to the investors about the company statistics before they issue shares in public. It is mainly a 3 step process. For detailed description, read through the blog below.
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.
An IPO or Initial Public Offering is where for the first time an earlier unlisted company sells new or existing securities and offers them to the public in the primary market.
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.
Subscribing for an IPO with multiple accounts, avoiding last-day applications, and choosing minimum bids are few ways to increase IPO allotment chances.
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.
IPOs have been extremely popular lately as a result of increased retail participation, ongoing bull run, and massive listing gain opportunities. However, the Indian stock markets went through a minor correction which resulted in a muted performance of some IPOs. The market negativity coupled with the lofty valuations of some of the IPOs led to poor listing gains, but the craze might not be over.
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.
When talking about the best stock broker in India, we cannot rule out Zerodha. It is the market leader in bargain stockbroking, is premised in Bengaluru, and accounts for more than 15% of total retail trading activity in the country. Mr. Nitin Kamath formed the leading brokerage firm in 2010 Kamath, and it now has a customer base of over 6 million.
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