IPO basics & risks
NSE / BSEHow to read an IPO, what the dates mean, and where the real risks are.
The IPO journey
Open / Close dates: the window when you can apply.
Allotment date: when shares are allocated (oversubscribed issues allot by lottery for retail).
Listing date: when the stock starts trading on the exchange.
Price band & lot size: the price range and the minimum number of shares you must apply for.
How to read the RHP
The Red Herring Prospectus (RHP) is the official offer document. Read the 'Risk Factors', 'Objects of the Issue' (where your money goes), financials, and promoter background.
Check subscription data (QIB / NII / Retail) for genuine demand — but remember high subscription is not a guarantee of listing gains.
SME vs mainboard
Mainboard IPOs are larger, more liquid, and have stricter eligibility.
SME IPOs are smaller, can be far more volatile and illiquid, and trade in larger lot sizes — higher risk.
About GMP
Grey-Market Premium (GMP) is an unofficial, indicative estimate of listing demand. On bulls.plus, GMP is published only by SEBI-registered analysts (attributed, reg-no shown) and rated by the community — it is indicative only, never a guaranteed listing price or advice.