Current IPOs
Invest Today In IPOs

In the Indian stock market, Current IPOs represent exciting opportunities for investors. These are Initial Public Offerings (IPOs) from companies that are actively open for public subscription right now. Also commonly referred to as Ongoing IPOs, Live IPOs, Active IPOs, or Open IPOs, this is the specific window during which investors can apply to buy shares directly from the company before they get listed on stock exchanges like the NSE and BSE.

This subscription period is typically short, usually lasting only 3 to 4 working days. This is the time for interested investors to analyse the offering, make their investment decisions, and submit their applications. Keeping track of the current IPO list or live IPO list is key for those looking to participate in potential growth stories right from the beginning. You can find details about which IPOs are current IPOs open on exchange websites, financial portals, and broker platforms like HDFC Sky.

Who is Eligible to Invest in a Current IPO?

Eligibility to invest in Current IPOs in India extends to various investor groups, provided they meet the necessary prerequisites. The main categories are:

1. Retail Individual Investors (RIIs): Resident individuals, Non-Resident Indians (NRIs), and Hindu Undivided Families (HUFs) applying for shares valued up to ₹2 lakhs. A minimum of 35% of the net offer is typically reserved for this category in mainboard IPOs.
2. Non-Institutional Investors (NIIs): Investors applying for shares valued above ₹2 lakhs. This includes resident individuals, NRIs, HUFs, companies, trusts, etc. This category often has sub-categories based on application size.
3. Qualified Institutional Buyers (QIBs): These are institutional investors with market expertise, such as mutual funds, banks, insurance companies, Foreign Portfolio Investors (FPIs), etc. Usually, up to 50% of the issue is allocated to QIBs.
4. Other Reservations: Some IPOs might have separate quotas for employees or existing shareholders of the promoter group.

All applicants must possess a valid PAN, an active Demat account, and a bank account enabled for ASBA/UPI payments, along with being KYC compliant.

How to Apply for a Current IPO Online?

Applying for a current live IPO online is a straightforward process using either the ASBA (Applications Supported by Blocked Amount) facility via net banking or the UPI (Unified Payments Interface) mechanism through your broker’s platform. Here’s how you can apply for a current IPO:

1. 1. Log In: Access your net banking portal (if using ASBA) or your stockbroker’s trading platform/mobile app (e.g., HDFC Sky for UPI/ASBA).
   2. Find the IPO: Navigate to the IPO section, which lists current ongoing IPO issues available for subscription. Select the IPO you wish to apply for.
   3. Fill the Application Form:
      1. Select your investor category (e.g., RII).
      2. Enter the number of lots you want to bid for (minimum 1 lot).
      3. Choose your bid price. You can bid at any price within the specified price band or select the ‘Cut-off Price’ option (available for RIIs), indicating your willingness to apply at the final price decided through book-building.
      4. Enter or verify your Demat account details (DP ID & Client ID).
   4. Authorise Payment (Block Funds):
      1. ASBA: Select your linked bank account. The application amount will be blocked in this account.
      2. UPI: Enter your registered UPI ID. You will receive a mandate request on your UPI app (like BHIM, GPay, PhonePe). Approve this mandate promptly to block the funds. Failure to approve the mandate will lead to application rejection.
   5. Review and Submit: Carefully check all details and submit your application before the IPO closing time on the final day. Note down the application reference number provided.

How to Analyse a Current IPO Before Investing?

While the excitement around the current IPO in the Indian market can be high, thorough analysis before investing is important. Don’t rely solely on hype or Grey Market Premium (GMP), which is an unofficial and often volatile indicator. Instead, focus on fundamentals by studying the company’s Red Herring Prospectus (RHP) or Prospectus. These documents are available on SEBI’s, stock exchanges, and AMC’s websites, as well as broker platforms like HDFC Sky.

Key aspects to analyse include:

• Business & Industry: What does the company do? What is its market share, competitive landscape, and future growth potential? Is the industry it operates in growing?
• Objects of the Offer: Why is the company raising funds via the IPO? Is it for expansion, debt reduction, or working capital, or are existing investors exiting (Offer for Sale – OFS)? Fund usage for growth is generally viewed more positively than just facilitating exits.
• Financial Health: Review the company’s past financial performance (at least 3-5 years). Check revenue growth, profitability trends (PAT, EBITDA margins), debt levels (Debt-to-Equity ratio), and cash flows.
• Valuation: Compare the IPO price band valuation (using metrics like Price-to-Earnings (P/E) ratio, Price-to-Book (P/B) ratio) with listed peers in the same sector. Does the valuation seem justified given its financials and growth prospects?
• Management Team: Assess the experience, competence, and integrity of the company’s promoters and key management personnel.
• Risk Factors: Carefully read the ‘Risk Factors’ section in the RHP to understand the potential internal and external risks associated with the business.
• Subscription Levels (during the open period): Monitor how different investor categories (especially QIBs) are subscribing. Strong QIB demand often indicates institutional confidence.

How to Check IPO Subscription and Allotment Status?

Tracking the progress of Active IPOs involves monitoring two key things:

1. Subscription Status (While IPO is Open):
   1. You can check the live subscription status multiple times daily while the IPO window is open.
   2. Sources include the official websites of NSE and BSE, which provide updates on how many times the issue has been subscribed overall and within each investor category (QIB, NII, RII).
   3. Many financial news portals and broker platforms (like HDFC Sky) also display this live IPO list subscription data, helping gauge investor interest in current IPO stocks.
2. Allotment Status (After IPO Closes):
   1. Once the IPO closes, the allotment process begins, with the aim of finalisation typically by the next working day (T+1).
   2. You can check your allotment status on the official website of the designated IPO Registrar (e.g., Link Intime, KFintech).
   3. BSE and NSE websites also host link to allotment status. Many brokers notify clients about allotment via email/SMS or platform updates.
   4. You’ll need your PAN, IPO Application Number, or Demat Account details to check the status online. The result will show if shares were allotted or if the application was unsuccessful.

The potential current IPO listing price is influenced by demand seen during subscription and market conditions leading up to the listing day, usually T+3 days after closure.

(Note: The current listed IPO refers to stocks that have recently been listed after their IPO process concluded.)