Training Example: ICICI Direct – Review the Data, Give Your Score & Compare to the Real AI Evaluation

[H1] ICICI Direct

ICICI Securities will not invite you or issue advertisements to join WhatsApp groups. Watch out for fake profiles impersonating ICICI Securities’ executives. Beware of scammers promising sky-high returns or guaranteed IPO allotments - Know More

[H2] One Account. Simplified Investing. Endless Possibilities.

Invest in stocks, IPOs, commodities, ETFs, bonds, mutual funds, and more.
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[IMG: NSE]

Nifty 50

23,920.25
0.03%

[IMG: NSE]

Nifty Bank

54,931.85
-0.29%

[IMG: Gift Nifty]

GIFT NIFTY

23,916.50
-0.16%

[IMG: BSE]

BSE BANKEX

61,727.87
-0.59%

[IMG: BSE]

BSE Sensex

75,777.84
-0.31%

View All

[H2] Invest Effortlessly with ICICI 3-in-1 Account

Seamless. Simple. Empowering.
Invest directly using funds in your ICICI Bank savings account. Trade across multiple asset classes. Backed by 70+ years of trusted ICICI legacy.

[H3] All in One

Stocks, IPOs, commodities, ETFs, bonds, mutual funds, futures & options.

[H3] Direct Investing

Use funds in your ICICI Bank savings account—no transfers needed.

[H3] Low Brokerage

Pay as low as 0.07% on delivery trades with our Prime plans

[H3] Margin Trading

Boost your buying power up to 4X* with MTF at 9.65%* interest rate

[H2] Choose from a Wide Range of Investment Options

Everything you need to invest with confidence, all in one simple platform.

[H3] Stocks

Buy and sell shares with ease, backed by research insights.

[H3] Mutual Funds

Start SIPs or invest lumpsum, thousands of funds to choose from.

[H3] IPOs

Apply for upcoming IPOs quickly and securely.

[H3] Bonds & FDs

Earn steady returns with safe fixed income products.

[H3] NPS

Diversify your portfolio with long-term growth options.

[H2] Get Expert Advice, When you Need it

Our research experts guide you on what to buy and when to buy—whether you’re trading short term, investing long term, or choosing professionally curated One-Click Portfolios. Get daily recommendations delivered straight to your WhatsApp.

Short Term Picks

Medium Term Picks

Long Term Picks

Basket Picks

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We appreciate your patience. Your content is on the way.

We appreciate your patience. Your content is on the way.

We appreciate your patience. Your content is on the way.

Explore Research

[H2] Choose a Pricing Plan that Suits your Style of Investing

[H3] No hidden charges.

Know exactly what you pay

[H3] Transparent brokerage plans

for every type of investor

[H3] Flexible pricing

that fits your goals

Check all Brokerage Plans
Find a Plan for You

[H2] Trusted by Millions of Investors

★
★
★
★
★

I like research recommendations given by ICICI Direct, it helped me take appropriate decisions. The fact that I can see and buy those recommendations from app itself ma...

Karan Achhpal

★
★
★
★
★

Very user-friendly and intuitive, I'm really enjoying the buying and selling experience with the App. It's got the state of the art features, and very stable.

Arvind Srivastav

★
★
★
★
★

One stop boutique for all your trading needs. Good and strong platform with great help!

Venkatesh Bhandare

[H2] Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

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[H2] Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

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[H2] Learning simplified with iLearn

Learning is easier when it’s simple. iLearn helps you build knowledge and grow into a confident investor.

[H3] Comprehensive Modules

Structured learning that simplify key investment concepts

[H3] Short explainer videos

Understand complex topics in minutes

[H3] Insightful Articles

Explore detailed insights on markets

[H3] Independent quizzes

Test your knowledge of investment products

Explore iLearn

[H1]
Investing made effortless, powered by smart
insights

Advanced Trading Tools

GTT Orders, Order Slicing, Automated Trading and Stock Screener

Expert-curated Research Insights

Get access to research reports, stock recommendations and theme-based stock baskets

Trade Securely
Backed by 27+ years of legacy and financial expertise

Effortless Transactions
No need to transfer funds in broker's pool account

[H2] Investment Features

[H2] Good Till Triggered (GTT)

Effortlessly place orders that stay active upto
365 days by eliminating the hassle of constant monitoring. Set both Target and
Stoploss order simultaneously.

Explore
now

[H2] Pay Later (MTF)

Never miss an apportunity to invest in stocks due to shortage of funds.
Pay only a fraction of the total amount with the rest being funded by ICICI Direct at low interest rates

Explore
now

[H2] Order Slicing

Automate your orders execution with simple to
use pre-defined set of instructions. Get access to strategies like order
slicing, averaging and intraday scalping.

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now

[H2] Stock Basket

Invest in research-curated stock baskets making
investing convenient with just one click. Create your own customised basket of
favourite stocks.

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now

[H2] Stock SIP

Create long term wealth with regular periodic
investments in stocks and ETFs. Start SIP in single stock or a custom stock
basket.

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now

*The securities are quoted as an example and not as recommendation

[H2] Trading Features

[H2] Intraday

Get access to advanced charts and get upto 5x in intraday to seize the opportunities.

Explore now

[H2] Margin Trading Facility

Get up to 4X margin funding at minimal interest rates

Explore now

[H2] Shares as Margin

Create Instant limits with you shares to invest in stocks through MTF.

Explore now

*The securities are quoted as an example and not as recommendation

[H2] Essential Stock Market Tools

[H3]
Stock Screener
[IMG: right arrow]

Get access to pre-built screener designed by experts to
identify potential investment opportunities. Sort and Filter stocks based on Price
Movement, company financials and more.

[H3]
Stocks Alert
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Stay on top of your portfolio with timely updates on your
portfolio. Get notified when you are about to buy high risk stocks.

[H3]
Online Capital Gains
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Understand your long / short term capital gains
liabilities in a click of a button

[H2] How to Invest with ICICI Direct

Desktop

Mobile

[H3]
Step 1:Search for the Stock

[H3]
Step 2:Click on Buy or Sell

[H3]
Step 3:Specify Quantity and select Order Type

[H3]
Step 4:Confirm the
Order

[H3] Step 1:Search for the Stock

[H3] Step 2: Click on Buy or Sell

[H3] Step 3:Specify Quantity and select Order Type

[H3] Step 4:Confirm Your Order

[H2] Research Recommendations

Get daily recommendations for Intraday, Options and Long Term
investments with detailed research reports

Short Term Picks

Medium Term Picks

Long Term Picks

Basket Picks

INFOSYS LTD
SELL

Reco Price
1,160

Target Price
1,148

Stop Loss
1,168

POWER GRID CORPORATION OF INDI
BUY

Reco Price
297

Target Price
301

Stop Loss
295

Open an account

Hyundai Motor India Ltd
BUY

Reco Price
1,630.00

Target Price
2,070.00

Estimated Profit

+26.99%

[IMG: uptrend chart]

Aeroflex Industries Ltd
BUY

Reco Price
223.00

Target Price
280.00

Estimated Profit

+25.56%

[IMG: uptrend chart]

HDFC Life Insurance Company Ltd
BUY

Reco Price
640.00

Target Price
800.00

Estimated Profit

+25.0%

[IMG: uptrend chart]

Open an account

HDFC Asset Management Company Ltd
BUY

Reco Price
4,048.00

Target Price
5,100.00

Estimated Profit

+25.99%

[IMG: uptrend chart]

Open an account

Shriram Properties Ltd
BUY

Reco Price
93.00

Target Price
125.00

Estimated Profit

+34.41%

[IMG: uptrend chart]

Narayana Hrudayalaya Ltd
BUY

Reco Price
1,890.00

Target Price
2,245.00

Estimated Profit

+18.78%

[IMG: uptrend chart]

Max Estates Ltd
BUY

Reco Price
452.00

Target Price
610.00

Estimated Profit

+34.96%

[IMG: uptrend chart]

Open an account

Max Estates Ltd
BUY

Reco Price
452.00

Target Price
610.00

Estimated Profit

+34.96%

[IMG: uptrend chart]

Open an account

[H2] Our Pricing Plans

Delivery Brokerage as low as

0.07%*

Pay later with MTF at interest as low as
9.65% p.a.*

Interest on Shares as Margin @

0%*

Get this with
Prime Plans

Flat Brokerage per order of
₹20

For intraday, Futures &
Options

Reduced AMC of
₹300 From
₹700

Interest per day on Share as Margin @
0.027%

Get this with
iValue
Plan

*On Select Prime Plans

[H2] Our Videos

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[IMG: When Not to Trade: Intraday Strategy Explained]

[IMG: When Not to Trade: Intraday Strategy Explained]

Investing
For beginner

[H3] When Not to Trade: Intraday Strategy Explained

[IMG: Intraday Trading Psychology: Decision Traps to Avoid]

[IMG: Intraday Trading Psychology: Decision Traps to Avoid]

Investing
For beginner

[H3] Intraday Trading Psychology: Decision Traps to Avoid

[IMG: Intraday Trading: Why Position Size Matters]

[IMG: Intraday Trading: Why Position Size Matters]

Investing
For beginner

[H3] Intraday Trading: Why Position Size Matters

[H2] Frequently Asked Questions

[H3]

How can you start investing in stocks?

To start investing in stocks, open a Demat and trading account, research about companies and set your financial goals. Make sure to diversify your portfolio to mitigate risk and stay informed about market trends to keep yourself updated.

[H3]

What is the difference between stock investing and trading?

Stock investing focuses on holding shares for longer duration such as few months or a few years. Whereas, stock trading involves frequently buying and selling stocks to capitalize on the market fluctuations.

[H3]

Is it good to invest in the stock market?

Stock market enables investors with opportunities such as growth, capital formation, liquidity. However, it is always advised to be cautiously invest in stock market because of its volatile nature.

[H3]

What options are available for stock market investment?

You can invest in stock market using stock SIPs, and One-click Equity baskets or themed baskets. Use tools such as Stock Screener, GTT, Order slicing, and MTF to ease your stock trading journey.

[H3]

How does stock trading work?

Stock trading involves buying and selling of stocks of companies listed on the NSE or BSE with the objective of capitalizing on price fluctuations. These transactions are facilitated by stock brokers under the regulatory guidelines laid out by SEBI.

[H3]

What are the benefits of investing and trading in stocks?

Benefits of investing and trading in stocks includes: portfolio diversification, capital appreciation, flexibility of investment, liquidity, counter against inflation and transparent transactions.

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[H1] ICICI 3-in-1 Account

Experience the benefits of having your savings, demat & trading accounts at one place

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Account Complete

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Application status

Account Complete

Under verification

Awaiting response from Exchange

Ready for trade

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Welcome back! You already have an account with ICICI Direct.
Login

[H2] Open ICICI 3-in-1 Account

Mobile Number

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T&C

I hereby understand and agree to authorize the ICICI Securities and its affiliates/ group companies...More

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Please accept the declaration.

Get OTP

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✕

These terms and conditions ("WhatsApp Terms and Conditions" as amended from time to time) are applicable to the Customers (defined hereinafter) that avail the Services (defined hereinafter) provided thereon by ICICI Securities Limited ("ICICI Securities") on the WhatsApp platform. The WhatsApp Terms and Conditions shall be in addition to any other terms and conditions as stipulated by the ICICI Securities from time to time on its website (www.icicidirect.com) whether pertaining to the account or in relation to other products, services or facilities provided by ICICI Securities.Any services that may be offered to the customer through the WhatsApp platform ("WhatsApp") is at the discretion of the ICICI Securities and/or basis the eligibility criteria of a customer and such services are subject to certain terms and conditions. In case of conflict between any of these WhatsApp Terms and Conditions and the terms and conditions for other services provided on the WhatsApp channel, specific terms and conditions of such services shall prevail. Further, in case of inconsistency between the WhatsApp Terms and Conditions and any specific terms and conditions pertaining to account or any specific service/product/offer, the specific terms and conditions of that particular service/product/offer shall prevail.1. DEFINITIONS"Trading Account" refers to the trading account maintained by the Customer with ICICI Securities."Trading Account Related Services" shall mean the Services which pertain to information in relation to the Trading Account maintained with ICICI Securities by customer including but not limited to portfolio valuation, stock quote, order details, trade details etc which are enabled by ICICI Securities, from time to time, at its sole discretion."Registered ICICI Securities Number" is the authorized number of ICICI Securities, registered with WhatsApp for the purposes of providing Services herein."Customer" shall mean any person holding Trading Account or any prospective customer with ICICI Securities and interacting with ICICI Securities on WhatsApp using the Registered ICICI Securities Number / using the Services provided by ICICI Securities through WhatsApp. "Customer Information" refers to the personal data or information or such other data or information including any sensitive personal data in relation to the Customer such as information in relation to the trading account of the Customer, shared by the Customer or provided to the Customer by ICICI Securities or collected or obtained from the Customer or from WhatsApp or from any such source in the course of the Customer availing the Services hereunder."One Way Communication" shall mean the service provided by ICICI Securities to the Customer on WhatsApp where ICICI Securities sends its Customer one-way messages through its Registered ICICI Securities Number in the nature of information, alerts, updates, transaction alerts in relation to the Customer's Trading Account and such other communications as ICICI Securities may enable from time to time, at its discretion."Privacy Policy/Privacy Commitment" shall have the meaning as ascribed on the Website; "Service(s)" shall mean the One Way Communication and Two Way Communication services provided by ICICI Securities by itself or through any of its service providers, to a Customer on WhatsApp."Two Way Communication" shall mean the service provided by ICICI Securities to the Customers on WhatsApp where the Customer can communicate with ICICI Securities by sending it messages in the form of making requests, seeking information, asking queries etc. on the Registered ICICI Securities Number and where ICICI Securities responds to such messages. However, this service and ICICI Securities responses shall be limited only to such queries, information, requests etc. as may be determined by ICICI Securities from time to time, at its sole discretion."WhatsApp" is the application provided by WhatsApp Inc. 1601 Willow Road, Menlo Park, California 94025.2. INTERPRETATIONAll references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".Words importing any gender include the other gender. 'We/us' refers to ICICI Securities and 'You/yours' refer to the customer using the WhatsApp facility.Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations,amendments, re-enactments or replacements for the time being in force.All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms and Conditions.Reference to any law or legislation, regulation, rule shall mean, applicable, constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorisation, or any published directive, guideline, notice, requirement or governmental restriction, having the force of law in any jurisdiction and include laws as amended from time to time.3. PURPOSEThis WhatsApp platform serves as a supplementary medium through which we can communicate with you and provide Services and further enable certain services as ICICI Securities may decide in its sole discretion.4. ELIGIBILITY FOR USING THE SERVICESThe Customer hereby agrees and undertakes that he/she shall use the Services only if he/she fulfills the eligibility as given below:The Customer is an individual and is a major;The Customer is a Guardian of a minor;The Customer is of sound mind, solvent and competent to contract;The Customer is a resident of India and is present in the territory of India at the time of utilization of the Services;The Customer is a non-resident India (NRI) or is residing outside India.The Customer is Principal Authorised Signatory of the Non Individual Account. 5. APPLICABILITY OF WHATSAPP TERMS AND CONDITIONS These WhatsApp Terms and Conditions form a contract between the Customer and ICICI Securities. The Customer shall apply to ICICI Securities in the prescribed manner for availing of the Services. By applying and opting in for the Services, the Customer acknowledges that he has read, understood and accepted these WhatsApp Terms and Conditions and other specific terms and conditions as pertaining to the Account and any other products/offers/facilities and services availed by the Customer whether or not through WhatsApp. No act, delay or omission by ICICI Securities shall affect its rights, powers and remedies under these Terms and Conditions and other terms on ICICI Securities website (www.icicidirect.com), hereinafter referred to as "Website".The Customer hereby accepts and agrees that all Services and communications (both One Way Communication and Two Way Communication) taking place on WhatsApp, initiated either by ICICI Securities or the Customer, will be governed by and subject to these WhatsApp Terms and Conditions. Further, the Customer hereby agrees that the Customer grants express authority to ICICI Securities for carrying out the Services requested by the Customer on WhatsApp on its Registered ICICI Securities Number. Provided however that ICICI Securities shall not be required to authenticate the Customer, if any request for the Services comes on WhatsApp to ICICI Securities Registered Number, and in case of a Customer, if the number reflected in the requestor's mobile is a Customer's Registered Number, ICICI Securities shall be entitled to presume that it is the Customer itself which is interacting through WhatsApp and in case of any other Customer ICICI Securities shall be entitled to presume that the number reflected in the WhatsApp profile is the Customer's number and it is the Customer itself and not any other person who is interacting with ICICI Securities Registered Number. ICICI Securities's own record or log of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes.6. SERVICESThe Customer agrees and accepts that ICICI Securities reserves the right to provide only such Services as ICICI Securities may at its discretion permit from time to time. ICICI Securities may also inform/update the availability/non-availability of any particular Service, at its sole discretion. The Customer hereby agrees that ICICI Securities may at any time, without notice to the Customer, modify, discontinue or make additions/deletions to the Services offered to the Customer. The Customer agrees that he shall not hold ICICI Securities responsible for not responding to the queries of/ information sought by the Customer or not providing a response to the satisfaction of the Customer or not processing any request of the Customer, in case such a message sent by the Customer in case ICICI Securities does not receive an instruction to this effect in its systems or the message sent by the Customer is not in the format as required by ICICI Securities or does not fall under the Services being offered by ICICI Securities at the time or ICICI Securities does not receive such a message for technical reasons or otherwise or for any reason whatsoever. ICICI Securities will have no liability in case of any fraud or impersonation incidents through the WhatsApp platform. Further, in case ICICI Securities permits any Service in the nature of a transaction, the Customer agrees that such a Service shall be subject to statutory/ regulatory limits and/or any limits that may be imposed by ICICI Securities, from time to time, at its sole discretion.7. REGISTRATION AND VERIFICATIONFor availing the One Way Communication and Two Way Communication service, the Customer agrees and confirms to have accepted (a) the WhatsApp Terms and Conditions applicable to the Customer for availing the Services mentioned herein; (b) the Privacy Policy of ICICI Securities applicable to the Customer for availing the Services mentioned herein; (c) any other Account/product/service/offer related specific terms and conditions as applicable and (d) all terms and conditions prescribed by WhatsApp for using its platform.Provided that, ICICI Securities may modify the process for authentication, registration and/or verification of the Customer, for One Way Communication and/or Two-Way Communication, at any time, at its sole discretion.8. UNSUBSCRIBEYou may choose/request for de-registration/un-subscription of the Services at any point of time by following the process as may be prescribed by ICICI Securities from time to time. Currently ICICI Securities provides the following channels for un-subscription:Our Website: Visit the WhatsApp un-subscription section on our Website. Enter your mobile number. Enter the OTP received on your registered mobile number and submit.Missed Call/ SMS to a specific number as updated on the Website.Send 'STOP' keyword on the WhatsApp platform.However, the Customer agrees that for this to come into effect, it may take such time as may be required by ICICI Securities. The Customer agrees that he will remain responsible for any requests made/ messages sent to ICICI Securities using the Services prior to the time such cancellation of the Services is effected by ICICI Securities. ICICI Securities will be at liberty to discontinue/ suspend/ terminate the Customer's use of the Services at any time without assigning any reason whatsoever. ICICI Securities may also discontinue or suspend or terminate Services/ facilities without prior notice if these Terms and Conditions are breached.Once we have received the notification that you have unsubscribed, we will no longer process your information for the purpose(s) you originally agreed to and sent any further notification/message through WhatsApp, unless legally permissible otherwise.9. IMPORTANT The Customer shall apply to ICICI Securities for use of the Services (and/or for any changes to the options available under the Services) in such manner and through such modes as may be specified and made available by ICICI Securities from time to time including but not limited to application through forms as prescribed by ICICI Securities, 24-Hour customer care number, SMS if and when made available as permitted modes by ICICI Securities for use of the Services through the WhatsApp platform.ICICI Securities in its sole discretion shall decide the devices, software platforms, versions, networks, methods, and data services that will be supported by the WhatsApp platform for providing these Services. Any attempts to modify unsupported versions for use in the WhatsApp platform will be treated an unauthorized use and violation ("Unauthorized Use") of these WhatsApp Terms and Conditions. The Services through the WhatsApp platform shall be suspended with immediate effect if there is Unauthorized Use by the Customer.The Customer agrees that the Customer shall be responsible for upgrading any software, hardware and the operating system at his/her own cost from time to time so as to be compatible to continue to avail the Services offered by ICICI Securities. ICICI Securities shall be at liberty to change, vary or upgrade its software, hardware, operating systems, etc. from time to time and shall be under no obligation to support the software, hardware, operating systems used by the Customer and that the same shall be the Customer's sole responsibility. Some Services may not work on an outdated platform and hence it is Customer's sole responsibility to ensure timely upgradation of the WhatsApp platform. By subscribing to Services on WhatsApp platform, the Customer agrees t

[H1] IPO - Initial Public Offerings 2026

Explore IPO timelines, company details, and apply seamlessly all in one place
Explore & Invest in IPO

[H2] How to apply an IPO on ICICI Direct

[H3] Step 1:Log in to the ICICI Direct App/Website

Get started by logging in on the ICICI Direct app or website.

[H3] Step 2:Head to the IPO Section

Navigate to the IPO section.

[H3] Step 3:Apply for the IPO

Enter the number of lots, enter the bid price, accept the T&C.

[H3] Step 4:Confirm Your Order

Confirm and submit your order.

[H3] Step 1:Log in to the ICICI Direct App/Website

Get started by logging in on the ICICI Direct app or website.

[H3] Step 2:Head to the IPO Section

Navigate to the IPO section.

[H3] Step 3:Apply for the IPO

Enter the number of lots, enter the bid price, accept the T&C.

[H3] Step 4:Confirm Your Order

Confirm and submit your order.

[H2] What is an IPO?

Initial Public Offerings (IPOs) give you a front-row seat to invest in companies as they step into the public market.
An IPO allows investors to become shareholders or “part owners” of the company, while enabling companies to raise capital for various business needs, such as expanding operations or paying off debt.

[H3] Types of IPOs

There are two common types of IPOs: Fixed Price Issue and Book-Building Issue. The key difference lies in how the share price is determined.

[H4] Fixed Price Issue

In a Fixed Price IPO, the price of shares is pre-determined by the company and its lead managers. Investors know exactly what they will pay for each share at the time of subscription.

[H4] Book-Building Issue

In a Book-Building IPO, shares are offered within a price range, rather than at a fixed price. Investors place bids within this range, and the final price is determined based on demand and supply.

[H3] How an IPO Works

The journey of taking a company public involves several key steps. Here’s how the IPO process unfolds:

The company decides to go public and conducts the necessary compliance checks and financial audits.
It then files a Draft Red Herring Prospectus (DRHP) with SEBI and submits a separate application to the stock exchanges where it intends to list its shares.
The company and underwriters promote the IPO, often through a roadshow.
The offering price is determined based on market conditions, and the Red Herring Prospectus (RHP)—the final, comprehensive version of the prospectus—is updated with price details.

Shares are allocated to the main investor categories: Retail Individual Investors (RIIs), Non-Institutional Investors (NIIs), and Qualified Institutional Buyers (QIBs). Investors interested in the offering can bid when the IPO opens for subscription.
The company gets listed on stock exchanges such as NSE and BSE.
Trading begins when shares become available on the secondary market.
The company continues to provide financial and operational updates to investors and exchanges during the post-IPO reporting period.

[H3] History of IPOs

The first ever IPO was issued by the Dutch East India Company (Vereenigde Oost-Indische Compagnie in Dutch). It also issued the first recorded stock certificate on the Amsterdam Stock Exchange, the world's oldest active stock exchange.
In India, the first company to go public with an IPO was Reliance Industries, which got listed on the BSE in January 1978.

[H3] IPO Application Process on ICICI Direct

Here are the main steps to invest in an IPO on ICICI Direct:
[H4] Open a Demat and Trading Account

A Demat account is essential for holding shares, while a Trading account allows investors to buy and sell them.

[H4] Research the IPO

Review the company's Red Herring Prospectus (RHP) to understand its business, financials, and risks. Uncertain investors can also consult a financial advisor for insights.

[H4] Apply for the IPO

Navigate to the IPO section on the ICICI Direct App or website
Enter the number of lots you wish to bid for and enter a bid price
Complete the application by submitting the bid and accepting the terms and conditions
Click on “confirm” to proceed.

[H4] Check IPO Allotment Status

Once the IPO closes, check the allotment status on “order book” on the ICICI Direct app/website.

[H3] Advantages and Disadvantages of IPOs

Here are the main advantages and disadvantages of investing in an IPO:

[H4] Advantages of Investing in an IPO

[H5] Early-Stage Investment Opportunity

Investors can participate in a company’s growth at an early stage, often at cost-effective prices.

[H5] Potential for Capital Appreciation

If the IPO is successful, share prices may rise, offering significant returns in the form of capital appreciation.

[H5] Access to Innovative Companies

Investors get an opportunity to invest in exciting, high-growth companies that were previously private.

[H5] Liquidity and Flexibility

Once listed, shares can be traded freely, offering liquidity (subject to lock-in rules, if any).

[H4] Disadvantages of Investing in an IPO

[H5] Higher Risk Exposure

Newly listed companies may lack a proven track record, making them a riskier investment.

[H5] Price Volatility

Recently listed stocks can be highly volatile in the initial trading phase, leading to price fluctuations.

[H5] Possible Overvaluation

Some IPOs may be overpriced, leading to sharp price corrections post-listing.

[H5] Lock-in Restrictions

In some cases, investors may be unable to sell shares immediately due to a lock-in period.

[H3] Why Would Companies Release an IPO?

Here’s a look at why companies go public:

Raising Capital: The primary reason for an IPO is to raise funds for business expansion, debt repayment, or other strategic initiatives. Additionally, companies can issue more shares in the future through a Follow-on Public Offering (FPO).
Prestige & Brand Awareness: Getting listed on the stock exchange enhances a company’s credibility and visibility. It also boosts brand awareness among the general public and potential investors.
Liquidity and Realising Gains: Existing shareholders, including founders and early investors, can sell part of their stake to realize gains and enhance liquidity.
Wider Range of Investors: Going public attracts a diverse pool of investors, including institutional investors (mutual funds, insurance companies), high-net-worth individuals (HNIs), and retail investors.

[H3] What is the IPO Timeline?

Launching an IPO in India is a multi-stage process involving regulatory approvals, financial audits, and investor allocation. The entire process typically takes 3 to 12 months and includes the following key phases:
Pre-IPO Planning – Identifying the financial statements and disclosures to be included in the prospectus.
Due Diligence & Compliance – Conducting financial audits and ensuring legal compliance.
Drafting the DRHP – Preparing the Draft Red Herring Prospectus (DRHP) and the registration statement.
Appointing a Merchant Banker – Selecting an investment bank or financial institution to manage the IPO process.
SEBI Approval & Exchange Listing – Securing approval from SEBI and applying for stock exchange listing.
IPO Opens for Subscription – Investors can apply for shares during the subscription window.
Share Allotment & Listing – Finalizing share allotment and listing the company on the stock exchange.

[H3] Is it Good to Invest in an IPO?

Investing in an IPO comes with both opportunities and risks, as outlined in the ‘Advantages and Disadvantages of IPOs’ section. However, the decision to invest in a specific IPO depends on several key factors such as:
Business Model & Industry Position: Understanding the company’s core operations, competitive edge, and market standing.
Financial Performance & Growth Potential: Evaluating the company's revenues, profitability, and expansion plans.
Valuation & Risk Factors: Comparing the IPO pricing with industry benchmarks and potential risks.
Market Sentiment: Considering broader market trends and investor interest in an IPO.
Before investing, it is crucial to research the company and review its Red Herring Prospectus (RHP). If unsure, investors may also seek guidance from a financial advisor.

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[H2] Frequently Asked Questions

[H3]

What is the IPO Cycle?

The IPO cycle refers to the various stages a company goes through before, during, and after launching an IPO. It includes:

Pre-IPO Phase – This place includes planning, compliance checks, financial audits, and SEBI approvals.
Offer Period – Here, the IPO opens for subscription, and investors place bids.
Allotment & Listing – In this phase, shares are allocated, and the company gets listed on the stock exchange.
Post-IPO Compliance – Post-IPO, the company must adhere to SEBI regulations and provide periodic financial disclosures.

[H3]

What is the Difference Between an FPO and an IPO?

In an IPO (Initial Public Offering), a company offers shares to the public for the first time, transitioning from private to public ownership.
In an FPO (Follow-on Public Offering), an already listed company issues additional shares to raise more capital.

[H3]

What is Lot Size in an IPO?

‘Lot Size’ is referred to as the minimum number of shares an investor must apply for in an IPO. IPO applications are placed in multiples of the lot size. For example, if a company sets the lot size at 40 shares, then an investor can apply for 40, 80, 120 shares, and so on.

[H3]

What is an Offer for Sale (OFS) in an IPO?

An Offer for Sale (OFS) is when existing shareholders (like promoters or early investors) sell their shares in an IPO as opposed to the company issuing new shares. The proceeds from the OFS go to the shareholders selling their stake and not the company.

[H3]

Can We Apply for an IPO After Market Hours?

While you can apply for an IPO even after market hours through your broker’s online platform, exchanges accept applications only from 10 AM on the day it opens until 4:30 PM on the day it closes.

[H3]

Can We Sell IPO Shares on Listing Day?

Yes, investors can sell IPO shares even on the day of listing. Once the shares are listed on the stock exchange, investors can buy/sell them just like other stocks.

[H3]

How to Apply for an IPO as an HNI?

High-Net-Worth Individuals (HNIs) can apply for IPOs under the Non-Institutional Investor (NII) category. For NIIs, the minimum bid amount is typically ₹2 lakh, and applications must be placed using the ASBA (Application Supported by Blocked Amount) method.

[H3]

What is DRHP in an IPO?

DRHP or the Draft Red Herring Prospectus is a document that is submitted to SEBI by companies before an IPO. DRHP contains key details about the company, including its financials, details on the business model, applicable risks, and intended use of IPO proceeds. It’s important that investors go through the DRHP before they apply for an IPO.

[H3]

What is the Employee Category in an IPO?

‘Employee Category’ is a dedicated quota reserved by companies for eligible employees, allowing them to invest at discounted rates. Only those working for the company can apply under this category.

[H3]

When Can We Sell IPO Shares?

Once the IPO shares are listed on the stock exchange, they can be sold anytime during market hours. But if the shares were allotted under a special category (e.g., anchor investors or employees), they may be subject to a mandatory lock-in period where they can’t sell their shares.

[H3]

What is a Price Band in an IPO?

In a book-building category of IPOs, the company sets a price range, which is known as the price band. When applying for an IPO, investors place bids within this price band or range, and the final issue price is determined based on demand.

[H3]

What is the Minimum Order Quantity for an IPO?

The minimum order quantity is the same as the number of shares in a single lot, which defines the lowest number of shares an investor can apply for in an IPO. For instance, if the lot size is 36, then investors can invest only in multiples of 36 (36, 72, 108, 144, etc).

[H3]

In Which Category Should an Investor Bid for Shares in an IPO?

Retail investors should bid under the Retail Individual Investor (RII) category, while High Net-Worth Individuals (HNIs) can apply under the Non-Institutional Investor (NII)Non-Institutional Investor (NII) category. Institutional investors, however, apply under the Qualified Institutional Buyer (QIB) category.

[H3]

Can an Investor Apply for all IPOs through ICICI Direct?

Yes, ICICI Direct provides access to most mainboard and SME IPOs listed on NSE and BSE, subject to availability.

[H3]

What is the ASBA Payment Method for IPO?

ASBA (Application Supported by Blocked Amount) allows investors to apply for IPOs without debiting their bank account. The funds remain blocked until the allotment is finalize