IPO Timeline
Complete timeline of the IPO process from company announcement to listing.
Pre-IPO Phase (3-6 months before listing)
Board Approval
Company board approves decision to go public and appoints merchant bankers.
DRHP Preparation
Draft Red Herring Prospectus prepared with company details and financials.
SEBI Filing
DRHP submitted to SEBI for preliminary examination (30-45 days).
SEBI Approval
SEBI reviews comments and approves the IPO for subscription.
Announcement Phase (1-2 weeks before opening)
RHP Publication
Red Herring Prospectus published without price band.
Investor Roadshow
Company management presents to investors across cities.
Price Band Announcement
Price band and subscription dates officially announced.
Final Prospectus
Final prospectus published with pricing information.
IPO Subscription Phase (3 days)
Day 1: IPO Opens
IPO opens for subscription at 10 AM. Investors can bid from this date.
Day 2: Mid-Phase
IPO remains open. GMP and subscription updates available daily.
Day 3: Last Day
IPO closes at 4 PM. Final subscription ratio determined.
Post-Subscription Phase (3-5 days after closing)
Bidding Validation
All bids validated for correctness and eligibility.
Price Finalization
Final IPO price determined within price band.
Allotment Process
Shares allotted based on bids, category quotas, and lottery.
Allotment Announcement
Results published on stock exchange and registrar website.
Refund Processing
Money refunded to unsuccessful applicants within 7 days.
Listing Phase (Usually 3-5 days after allotment)
Share Crediting
Allotted shares credited to demat accounts.
Listing Day
Shares officially list on stock exchange. Public trading begins.
Lock-in Period
Shares locked for 1-2 years depending on investor category.
Quick Timeline Reference
| DRHP Submission → SEBI Approval | 30-45 days |
| Announcement → IPO Open | 1-2 weeks |
| IPO Subscription | 3 days |
| Allotment Process | 3-5 days |
| Listing Day | Usually on Day 6 after allotment |
Key Takeaways
- ✓ Total IPO process: 3-6 months from start to listing
- ✓ Subscription phase: Only 3 days to apply
- ✓ Apply early during first 2 days for better chances
- ✓ Allotment within 3-5 days of subscription closing
- ✓ Listing typically happens within a week of allotment