IPO Timeline and Calendar

Understand the key milestones in the IPO process from start to listing and how to track them.

Last Updated: 2025-09-058 min

Timeline At a Glance

IPO Process typically follows these steps:

Draft Filing: Company files DRHP with SEBI to announce intent.

SEBI Review: SEBI reviews and suggests changes.

Red Herring Prospectus (RHP): Final offer document released.

IPO Opening: Bidding starts for investors.

IPO Closing: Bidding ends; no cancellations allowed.

Allotment: Shares allotted using basis of allotment.

Refund: Unallotted money returned to investors.

Listing Day: Shares start trading on NSE/BSE.

Each step has a clear timeline and legal deadlines; missing one can cause delays.

Anchor investors get shares allotted before IPO opens publicly.

Anchor allocation builds market confidence and stabilizes demand.

Allocations usually happen 1-2 days before the public IPO opens.

Example

Think of anchors as VIP guests invited early to boost the party’s popularity.

Allotment is announced 3–5 days post-IPO close.

Refunds of unallotted money processed within 7 days.

Shares credited to investor Demat accounts a day or two before listing.

Warning

Keep track of your application number and check allotment status promptly.

Event	Typical Timeframe	Notes
DRHP Filing	T - 60 to 45 days	Start of IPO process
SEBI Review	T - 45 to 30 days	Compliance and feedback
RHP Release	T - 15 to 10 days	Final offer document
IPO Open	T - 5 to 0 days	Bidding starts
IPO Close	T - 0	Bidding ends
Allotment	T + 3 to 5 days	Shares allotted
Refunds	T + 7 days	Money returned if not allotted
Listing Day	T + 8 to 10 days	Shares start trading

Why is the allotment process important in IPOs?

How do anchor investors influence the IPO opening?

IPOs follow a strict timeline with clear steps.

Anchor investors play a strategic role before the main IPO.

Timely allotment and refund management are crucial for investor trust.

SEBI Guidelines on IPO Process

NSE IPO Calendar

Company Prospectus Samples