An IPO remains open only during its announced bidding period. Check the status and closing date before applying. If an issue is marked Closing Today, submit the application before 5:00 PM and approve the UPI mandate on time.

Your bid may remain incomplete if the UPI mandate is not approved. If no IPO is open, check the upcoming IPO calendar to see which issue opens next.

How to Compare Open IPOs

Do not choose an IPO only because it has a high subscription or grey market premium. Compare the following factors:

Factor	What to check
Business	How the company earns, its customers, industry position, and growth drivers
Financials	Revenue, profit, margins, cash flow and debt
Use of proceeds	Whether the money will fund the business or go to existing shareholders through an OFS
Valuation	How the IPO valuation compares with listed peers
Risks	Customer concentration, litigation, regulation, cyclicality and working-capital needs

Use this IPO analysis framework to evaluate these factors together. If terms such as price band, cut-off price and lot size are unfamiliar, refer to the IPO terminology guide.

Which Open IPO Should You Apply For?

There is no single IPO that is suitable for everyone. Start with the issues whose businesses you understand. Then compare their financial performance, use of proceeds, valuation, and risks.

Long-term investors should give more importance to business quality, cash flow, debt, and valuation. Investors seeking listing gains may also track subscription and market sentiment, but these signals can change quickly.

GMP is unofficial and does not guarantee a listing price. Understand how IPO GMP works before using it as a supporting signal.

A Simple Apply, Wait or Skip Framework

Use three possible outcomes instead of forcing yourself to apply for every open issue:

Decision	When it may make sense
Apply	You understand the business, the financial trend is acceptable, the valuation is reasonable, and the risks fit your objective
Wait	Important information is unclear, market conditions are unstable, or you would prefer to evaluate the company before making any decision
Skip	The business is difficult to understand, cash flow is weak, debt or concentration is uncomfortable, or the price demands unrealistic growth

An IPO does not become attractive merely because the application window is closing. If you cannot explain why you want to own the company, skipping the issue is a valid decision.

Red Flags to Check Before Applying

Look more closely when you find any of the following:

Revenue and profits are rising, but operating cash flow remains weak.
A large part of the IPO is an OFS, so the money goes to selling shareholders rather than the company.
The company depends heavily on a few customers, suppliers, or products.
Debt remains high even after the proposed use of IPO proceeds.
The valuation is much higher than comparable listed companies without a clear reason.
Related-party transactions, litigation, or promoter issues are material.
Your decision depends mainly on GMP, social-media excitement, or subscription numbers.

A red flag does not automatically make an IPO unsuitable. It tells you which issue disclosures require more attention.

Final Check Before You Submit the Bid

Confirm your investment objective, bid price, number of lots, and total blocked amount. Check that the UPI ID belongs to the applicant, your demat details are correct, and sufficient funds are available until allotment. Avoid using money needed for near-term expenses because it may remain blocked during the IPO process.

How to Apply for an IPO on INDmoney

Select the IPO you want to evaluate.
Review its price band, lot size, minimum investment, and closing date.
Choose the number of lots and submit your bid.
Approve the UPI mandate received in your bank or UPI app.

The application amount remains blocked in your bank account. It is debited only for the shares allotted to you. See the complete guide on how to apply for an IPO through UPI.

Important IPO Deadlines

Track the application cutoff, UPI mandate deadline, allotment date, funds-unblock date, demat-credit date, and listing date. Tentative dates can change, so check the individual IPO page for the latest timeline.