Platforms like Groww, Upstox offer their users with Pre-Apply IPO option 2 days prior to opening date, which automatically place IPO order when bidding opens.
Would be great if Zerodha also provides its users with such feature.
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Hi Harit,
The regulation is unclear on accepting IPO bids before an issue is scheduled to open. The scheduled date is mentioned on the RHP of the company. We will be able to offer the pre-IPO application feature only after a clear go-ahead from either the exchanges or SEBI.
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I fail to understand what exactly is the benefit of this feature?
To me it seems, you can block your money two days in advance without any tangible benefit.
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I don’t want Pre-IPO feature, but I would very much like to apply for IPOs the entire day instead of just 10 am - 4 pm.
Sometimes,
a) we forget to apply within the cut-off time(we might be busy with our jobs),
b) we look for the subscription data to get an idea of the demand and
c) sometimes the UPI request takes a lot of time and ends up as a failure.
d) Few times, the servers are down and does not allow to place bids.
These can be optimised if the IPO can be applied round the clock on the first two days. Restrictions on the final day is acceptable, Zerodha can give some slack on the other days to make life easier.
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Well this is a different feature altogether, so I would let Zerodha answer it. But I am surprised at some of the points you have raised, they do not align with solution you want.
For eg.:
Points (a) and (b) basically means that you wanted to see last day subscription numbers and apply after that.
So in this scenario if you had option to apply for whole of 1st and 2nd day, how would it change anything? You would still like to see subscription on day 3 so having option to apply IPO for entire day in day 1 & 2 does not help
Again this means you applied on last day because if you were applying on day 1 & 2 you always have third day to revise.
So how any of this can be optimized if you had option to apply round the clock on first two days?
Regardless of reason, fact of IPO application is that 90% people wait for gauge of last day subscription and accordingly take decision to apply.
And having option to apply round the clock on day 1 & 2 does not really matter in that case.
Again I am not opposing the feature, just trying to understand the exact benefit
Round the clock bid for the first two days was just a suggestion.
If we can have it all day, I wouldn’t be against it.
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I don’t think last day restrictions are under zerodha’s control
Hey Mahesh, currently you cannot apply for IPOs before the issue opens on Zerodha. We’ve explained this here: https://support.zerodha.com/category/console/ipo/other-ipo-queries/articles/zerodha-pre-ipo-orders
What has changed with the regulations? Now I am seeing the option to pre apply for IPOs before the issue opens in the bid section of kite.