Metro Brands is launching its IPO with a price band of ₹485-₹500 per share. The IPO will be open for subscription between 10 December 2021 and 14 December 2021. However, you can pre-apply on Upstox from 7 December 2021.
What does pre-applying for an IPO mean?
Pre-applying for an IPO is a way to apply for a public issues in advance, before they go live. Once the IPO goes live, you will receive a UPI mandate. Accept this to block the IPO application amount and successfully place your bid.
To pre-apply for the IPO, you can follow these steps:
1. Login to Upstox using your 6-digit Pin or Biometrics and visit the IPO page under the ‘Discover Tab’.
2. Once you’re on the IPO page click on Ongoing IPO, there you will be able to see Latest IPOs to invest. You will be able to see the Pre-apply option.
3. You can also check the detailed information of an IPO by clicking on the IPO details.
4. Once you click on the Pre-apply option, fill in the required details and click to continue.
5. Review the IPO application once again with all the details and click to confirm and pre-apply.
6. Your Pre- application for IPO will be created and you will see a UPI Mandate message stating the date on which you will receive UPI mandate notification to block your bid amount.
Also, keep in mind: UPI notification would be sent via an SMS from your UPI app or it would be under the ‘Mandates’ section on your UPI app. Accept this to block the IPO application amount and successfully place your bid.
If you haven’t received the notification within 6 hours on the day the IPO has gone Live, you may need to delete your application and reapply for the IPO.
7. You can check your Pre-apply IPO application under My IPO section. It will show you status of an IPO as ‘Pre-applied’.
8. In case you want to delete your Pre-application of an IPO, click ‘View More’ under ‘My IPO’ where you will be able to see the ‘Delete Application' option. You can delete your pre-IPO application anytime before the IPO closes.