IPO Review - Discussion until listing

Has anyone received any allotment in SME IPO? Is there any trick to apply?

I have already applied for more than 15 IPOs this year under 4 separate accounts. But still, I have never got a single lot, I just wanted to know if someone is getting the allotment or if we are being fooled under the name of “random allotment”.

I recently got Senco gold IPO by applying only single application


There is no trick involved. It is similar to how you apply in Mainboard IPO. I have been applying regularly to SME IPOs and been allotted few times. But after the changes in the HNI allotment policy by SEBI for the Mainboard IPOs, the subscription level for SME IPOs have increased a lot and hence chances of allotment have come down.

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Concord Biotech IPO: All You Need To Know (bqprime.com)

Issue opens: Aug. 4.
Issue closes: Aug. 8.
Face value: Re 1 per share.
Price band: Rs 705 to Rs 741 per share.

Entire offering is OFS

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There are many experienced investors here in VP and on Twitter, some of whom I highly respect, who outrightly ignore IPOs. If you belong to this group, I encourage you to fact-check with data, as the data suggests a different story.

I had a similar argument with my friend, and he analyzed IPO data from 2017 to 2022. He took the closing price of IPOs on the listing date and concluded that “Even if we don’t get IPO allotment, buying after listing and holding till the present date has been profitable and has outperformed the Nifty 50 - achieving this 4 out of 6 times from 2017 to 2022.”

Article like Independence Day 2023: 33 of 38 mainboard IPOs jump up to 200% in past year | Mint gave same sense that IPO investing is profitable.


we had done a detailed study on IPOs. Here’s the link.



Hi Jitenbhai,
Thanks. I’ve reviewed the information, infact remembered going through it earlier as following you on X.
The only difference is the time frame; our analysis covered the period from 2017 to 2022.
Could it be possible for you to tweak the data to reflect the timeframe of 2017 to 2022, instead of 2010 to 2022? just in case.

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If you say that they are experienced, then they certainly have their own reasons for ignoring IPOs, and if they run advisory services etc., their reasons are even more stronger, because they know more than others.

And with the explosion of data and participation from retail, a lot of details about a company that is coming to the IPO are available, from a lot of different sources, including the company itself. And some experienced investors might have even more information from their own sources.

And some people apply for IPO don’t look beyond the IPO level, they don’t look at it as a company they want to buy, hold for a long time. They are applying just for the listing gains, and if they don’t get allocation, and if there is a lot of hype, they want to buy after listing because of FOMO, they just want to have a piece of the action, so to speak. No experienced investor does this.

And I am guessing such experienced investors, who know about the business may want the hype to cool down and wait for the price to come down if they think the valuation is high at the time of IPO. And I am also guessing such investors, who believe in the story, don’t mind applying for an IPO, because they know that the price is going go up even after listing, and that the demand is not because of hype, but because of the merits of the business, as some IPOs are worth applying for.

Not that it is always true, but I think it is Lynch who said - IPO means It’s Probably Overpriced.

Just my thoughts, have some experience with applying for IPOs, did not follow the price after I sold them, because I did not look at them as businesses I want to buy for long term.


Interview with the promoter of Unihealth Consultancy Ltd - MD and CEO, Dr. Akshay Parmar
SME IPO Date: September 8, 2023 to September 12, 2023

Promotors are knowledgeable and have their skin in the game. One of the promotors is living in Africa to manage the operations on the ground there.


Interview with the promoter of Techknowgreen Solutions Limited, MD - Dr Ajay Ojha

Promotors are passionate about the work and have technical knowledge of the topic.


Interview with Mr Abhishek More: Founder and CEO - Digikore Studios


Interview with Mr. Yuvraj Aman Singh - MD, CEO of Rockingdeals Circular Economy Ltd

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ETNow post on top best performaing IPOs in last 5 Years

Out of 10 - eight (8) are underperforming the day they listed.

There is high level of euphoria of Tata Tech with retail investor. My way to check data. i wish this reach to individual investor.


Thanks for sharing!

As they say about IPO - “it’s probably overpriced” :blush:.

This time I also applied for the first time for an ipo for tata technologies but didn’t get the allotment, but I guess whatever happens, happens for the best :grimacing:


If quarterly earnings do not justify the high valuations, these IPO’s get corrected in few quarters.
in my experience Clean Science allotted in IPO, doubled in no time but now it fallen back as earnings are not aligned to valuations . Peak PE of 128 now down to 52 as earning only growing 20-30%


Atleast IRCTC in this list had a split, and CMP os mich higher tangan listing day price


Huh? It more than the 2x IPO allotment price. I don’t figure how you say that not getting allotment was the best.

Those buying on listing day is different


:blush:, if I would have got the allotment, probably I wouldn’t have said that… “angoor khatte hain”

But I think the point I was trying to make is that often there is lot of gas in listing day price for an overhyped stock and that fizzles our after 1 or 2 quarters. But if someone wants to exit shortly after listing, that’s a super gain.