IPO Timeline Calculator

The current IPO (initial public offering) timeline counts from the issue closing date: T+1 for deciding how shares are allocated, T+2 for fund movement and share credit, and T+3 for listing under SEBI's published schedule. These are working-day offsets. The calculator above still uses the older T+6 schedule. Its allotment, refund and listing dates should not be used to plan a current application. Follow the issuer's published timetable and the exchange's trading notice.

Read the current close-to-listing sequence

T means the issue closing day, rather than the opening day, your application day or the day you approve a payment mandate. The post-issue process starts from that common reference point. The sequence covers validating applications, deciding allotment, moving funds, crediting shares and allowing exchange trading.

SEBI circular SEBI/HO/CFD/TPD1/CIR/P/2023/140, dated 9 August 2023, reduced listing to T+3 working days. The change became mandatory for public issues opening on or after 1 December 2023. The circular also requires the relevant application, allotment, unblocking and listing timelines to be disclosed in issue advertisements. SEBI's master circular, updated 9 February 2026, retains the sequence. It defines working days as exchange trading days excluding Sundays and bank holidays, so a simple weekday count cannot establish the actual dates.

The stages are separate. Seeing allotment status does not mean unused funds have already become available. Seeing shares in a demat account does not mean exchange trading has begun. Compare each event with its own published date.

Day-by-day IPO timeline after the issue closes

This table turns the T+3 sequence into questions an applicant asks. T is the closing day. Use the issue's own timetable for actual dates.

Money first appears as a block on your UPI or bank account when you approve the mandate, not as a debit. On T+2 the amount for allotted shares is debited and any unused part is released. If you were not allotted shares, the whole block should be released then.

What the form actually asks for

• IPO Close Date: enter the day of the month on which bidding closes. The form does not ask for a company name.
• Close Month: use the month number for that same closing date.
• Close Year: keep the closing year consistent with the issue announcement.
• Number of Holidays: a single count used as an extra delay in the calculator. It does not identify the dates of holidays or load an exchange calendar.

The page generates an opening date backwards from the closing date. There is no field for the issuer's actual opening day or any extension. A calculated Open Date therefore cannot establish the application window. Read both ends of the window from the issue announcement.

There is no registrar lookup, bank connection or application-status check. The date fields cannot show whether your particular bid was received, approved or allotted. They also cannot establish which funds remain blocked in your account.

Worked example: why the older output is misleading

Consider a fictional IPO closing on 1 March 2027, a Monday. Enter day 1, month 3, year 2027 and zero holidays. For this example alone, assume every following weekday is a working day and no calendar exception applies. No real issue is being described.

• The calculator counts 4 weekdays after close for Allotment Date, producing 5 March 2027.
• It counts 5 weekdays for Refund Date and Credit Date, producing 8 March 2027 after the weekend.
• It counts 6 weekdays for Listing Date, producing 9 March 2027.
• Under the current published sequence with the example's no-holiday assumption, T+1 is 2 March, T+2 is 3 March and T+3 is 4 March 2027.

The listing calculation above is 6 counted weekdays plus 2 skipped weekend days, or 8 elapsed calendar days. Adding those 8 days to the example's starting day gives the displayed day 9. The current no-holiday comparison is 3 elapsed days after that Monday, giving day 4. This comparison explains the mismatch; it does not validate the old result.

The opening-date shortcut also subtracts 2 calendar days from the entered Monday. It lands on 27 February 2027, a Saturday. That is another reason to take the opening date from the issue announcement instead of working backwards with this form.

Last-day cut-off times for bids and UPI mandates

The bidding window on each day is usually from 10:00 am to 5:00 pm, as shown in IPO listings and issue documents. Several issue pages state that the UPI mandate acceptance cut-off is 5:00 pm on the last day of bidding. A bid counts as valid only after the mandate amount is blocked and the status shows confirmed. Bid changes are allowed in parallel with the regular bidding period and close at 5:00 pm on the closing day, according to broker notices on the 2022 UPI process change. Read the issue's own prospectus or the registrar notice for the time that applies to your IPO.

• Apply on the first or second day, not the last hour.
• Approve the UPI mandate request in your UPI app straight after bidding, since an unapproved request means no valid bid.
• Check that the mandate amount shows as blocked.
• Your broker may set an earlier deadline than the exchange, so check its app.

A holiday count cannot replace a dated calendar

A real schedule depends on which days qualify as working days for the relevant process. Simply adding the same holiday count to every stage can delay an earlier stage for a holiday that occurs only later. It also cannot identify a holiday on the entered closing day or check whether your assumed date is valid.

For example, if a hypothetical holiday occurs after allotment but before listing, it should not move an allotment stage already completed. The calculator has only a total count, so it cannot make that distinction. Verify the official stage dates rather than adjusting this number until the final listing date looks plausible.

Invalid combinations of day and month may also roll into another month rather than produce a clear error. Check the displayed Close Date immediately after entry. If it differs from the official date, stop using the generated dates.

Holidays inside the IPO window

Only working days count. Saturdays, Sundays, exchange holidays and bank holidays are skipped. Made-up example: an issue closes on Thursday 11 March 2027. With no holiday, T+1 is Friday 12 March, T+2 is Monday 15 March and T+3 is Tuesday 16 March. If Friday 12 March were a holiday, T+1 becomes Monday 15 March, T+2 Tuesday 16 March and T+3 Wednesday 17 March. These dates are invented to show the counting method.

Status and urgency are calculated labels

Current Status compares the computer's current time with the generated dates. It does not read a live announcement from the exchange. A Listed label means the calculated date has passed; it is not confirmation that the issuer has actually listed.

Apply Urgency uses the same assumed window. Its short deadline wording cannot cover every application route or intermediary. The close date is handled as a date boundary rather than a complete route-specific closing timestamp, which can make same-day wording misleading.

For an actual application, check the broker or bank submission deadline and the payment-mandate deadline separately. A bid entry and a successful block are different events. Keep the acknowledgement and payment status so that the intermediary can investigate a missing mandate or other problem.

Use the right source for each next step

• Before applying: read the price-band announcement and offer document for the opening and closing dates.
• After closing: check the issuer's registrar for your allotment result.
• For blocked money: check the bank record and the published unblocking schedule.
• For credited shares: check the demat record.
• For trading: follow the exchange's listing and trading notice, including any revised date.

The IPO investment amount calculator can help with lot multiplication, subject to its stated category limits. The IPO application guide explains the broader steps. If your question concerns the result after a sale, use the IPO returns calculator separately from the calendar.

This page explains the timetable and the calculator's limitations. It cannot judge an issuer's financial health, recommend an application, forecast listing gains or send date reminders. A correct listing date also says nothing about whether the shares will rise or fall.

Mainboard and SME IPO schedules

Mainboard IPOs list on the main platforms of NSE and BSE. SME IPOs, meant for smaller companies, list on the exchanges' SME platforms. Their application sizes and rules differ, so read the offer document for lot size, minimum investment and the dates. Do not assume the numbers from a mainboard issue apply to an SME issue.

How long does a company take to go public?

This is the company-side process and takes much longer than the investor schedule. The company prepares a draft offer document and files it with SEBI. After SEBI's observations and updates to the document, it announces the dates and price band. The investor timeline on this page starts only when the issue closes. The company-side time depends on the issuer and market conditions, so no fixed number applies.

For the next steps read how to invest in an IPO, IPO trading guide and IPO glossary. If you trade a listing, log it in your journal with the plan you set before the opening.

IPO timeline questions

Sources

• SEBI: listing timeline and stage sequence, checked 16 October 2026.
• Zerodha Support: comparison of earlier and current listing schedules, checked 16 October 2026.
• SEBI: current timetable and working-day definition, checked 16 October 2026.