Guides
How the mechanics actually work · updated 19 Sept 2026, 1:29 am IST
Four explanations, written to be read once and not need re-reading. None of them tells you what to do — they explain how something works so that the numbers elsewhere on this site mean something.
How IPO Allotment Actually Works
What happens between an IPO closing and shares appearing in your demat account: the categories, the lottery, the reserved portion for small applicants, and why more lots does not mean better odds.
Updated September 2026
What IPO GMP Is, and What It Is Not
What grey market premium actually measures, who reports it, why two sites publish different numbers for the same IPO, and how often it has matched the listing price.
Updated September 2026
ASBA and UPI: How IPO Payment Works
How money is blocked rather than paid when you apply for an IPO, the difference between ASBA and the UPI route, and what goes wrong most often.
Updated September 2026
SME IPOs and Mainboard IPOs Are Different Markets
Lot size, eligibility, liquidity, disclosure and exit: how SME issues on NSE Emerge and BSE SME differ from mainboard IPOs.
Updated September 2026