Methodology
Where every number comes from, how often it changes, and what we do when we get one wrong.
Sources, field by field
- Issue details (price band, lot, dates, reservation, objects, promoters, lead managers, registrar) — the red herring prospectus and the price-band advertisement filed with SEBI and the exchanges.
- Financials and ratios — restated consolidated statements in the RHP. P/E, RoE, RoCE and market cap are computed at the upper end of the band and labelled as such.
- Subscription — NSE and BSE bid data, consolidated across both exchanges, with QIB shown excluding the anchor portion. Figures are cumulative by day.
- Grey market premium, Kostak, Subject to Sauda — quotes gathered from a disclosed set of market sources. They are unofficial and unregulated; we show the time of the last quote and never present GMP as a forecast.
- Listing outcomes — exchange opening price and day-one close.
- Reviews — published research from named third parties, summarised and attributed. IPOKhazana writes no recommendations of its own.
- Buybacks — public announcements, letters of offer and post-offer reports.
Update cadence
During bidding hours subscription figures refresh on the exchanges’ schedule; grey market quotes are refreshed when sources report a change. Every data view shows the timestamp of its last update. This demonstration build is frozen at 10 Sept 2026, 10:08 am IST with fictional data.
Derived figures and how they are calculated
- Estimated listing price = upper price band + latest GMP.
- Expected listing gain = GMP ÷ upper price band.
- Minimum investment = lot size × upper band, times two lots for SME issues.
- Allotment odds (retail, sNII) ≈ 1 ÷ times subscribed, reflecting lottery allotment at one lot per winner; big-NII odds reflect proportionate allotment. Both are illustrative.
- GMP accuracy = last pre-listing estimate compared with the actual listing price, scored on direction and gap.
Independence and funding
Issuers, merchant bankers and brokers do not pay for placement, ratings or coverage. Any advertising or sponsorship is labelled and kept out of data tables. Advertisers have no influence over figures or their ordering.
Corrections
Errors are corrected as soon as they are confirmed. Material corrections are noted on the affected page with the time of the change. Report a problem from the contact page; include the page, the field and your source.
What we do not do
- We do not deal in, arrange or promote grey market transactions.
- We do not accept applications, hold client money or check allotment on your behalf.
- We do not publish our own subscribe or avoid calls.
Common questions
Is grey market premium reliable?
Only as a mood indicator. GMP is quoted in an unregulated market with thin volumes, especially for SME issues, and it has been wrong on direction in a meaningful share of listings. IPOKhazana shows it alongside subscription data and an accuracy tracker so you can weigh it yourself.
Why does IPOKhazana not tell me whether to apply?
Offering an opinion on a public offer is research-analyst activity under SEBI regulations. We publish attributed third-party reviews and the facts you need to decide; we do not issue house calls.
How quickly is subscription data updated?
On a live deployment it follows the exchanges' publication schedule during bidding hours. Each page shows the time of its last update.