II
Academy · Section II
Mechanics
Book-building, price band, anchor book, retail / NII / QIB allotment, listing day, lock-in.
- PRIMARY MARKET MECHANICS From close to listing: the T+3 timeline What happens in the three working days between an IPO closing and its shares trading — when allotment is decided, when your money moves, and when you can finally sell.
- PRIMARY MARKET MECHANICS Book-building: how an IPO's price is set Why an IPO shows a price range instead of a price, what the band's hard limits are, and who turns the range into a single number.
- PRIMARY MARKET MECHANICS How IPO allotment actually works In an oversubscribed Indian IPO, every retail applicant has the same shot — whether they bid for one lot or fourteen. Here is how the allotment is engineered.