FAQ
How IPO allotment actually works
Worth ten minutes of reading before you spend ten minutes on setup. The mechanism is simple, and once you know it, what this product can and cannot do for you is obvious.
What is an IPO?
A company selling shares to the public for the first time. It offers a fixed number of shares in a price band over a three-day window; you apply for a whole number of lots at a price in that band. If more money is bid than there are shares, the issue is oversubscribed — which most issues worth applying to are.
Money is not taken when you apply. It is blocked in your bank account by a UPI mandate and released if you do not get an allotment.
How are shares allotted?
Applications are split into categories — retail, small and big non-institutional, and institutional. Retail is anything up to ₹2,00,000, which is where almost everyone reading this sits.
When the retail category is oversubscribed, allotment is a lottery. The regulator requires that the smallest possible allotment — one lot — goes to as many applicants as possible, so the registrar draws lots among all valid retail applications and hands one lot to each winner.
The consequence people miss: in a heavily oversubscribed retail category, applying for five lots does not make you five times more likely to get an allotment. It is one entry in the draw either way. What it changes is how much money is blocked.
The non-institutional categories work differently and can be proportionate or by draw depending on the issue and the rules in force. Rules change; treat this page as the general shape rather than a rulebook.
So how do you improve the odds?
One entry per application, one application per PAN. The only honest way to hold more entries in the draw is to apply from more PANs — a spouse, a parent, an adult child, each with their own PAN, demat and bank account.
Six accounts is six entries instead of one. That is the whole of the arithmetic, and it is why this product is built around six rather than one.
Two applications on the same PAN do not double anything. The registrar rejects duplicates — commonly all of them, not just the second — so the PAN that tried it gets nothing at all. Every account you add must be a different person with their own PAN, demat and bank account. Applying on someone else's behalf without their knowledge is not something this product will help you do.
Where does TredX come in?
The arithmetic above is available to anyone. The reason people do not act on it is that six applications, by hand, across six logins, inside a three-day window, on issues you have to notice in the first place, is an afternoon of work per IPO — and the window closes at 5pm whether or not you were busy.
- It notices. Open issues, closing dates, allotment dates and listing dates are pulled and kept current, so nothing closes while you were not looking.
- It logs in for you. On a day an issue closes, each Live account's broker login happens at 07:30, including the TOTP code, with retries and a message in your chat app if it genuinely fails. Applying by hand on another day takes one tap to log in.
- It applies across every account at once. One screen, six accounts, correct lot sizes per category worked out for you.
- It can run without you. Set filters, set each account to paper or live, and the 14:45 job does the rest.
- It checks the results. Allotment across every PAN you saved, against eight registrars, in one press.
What it does not do: pick which IPO is a good idea. That is your call, and nothing here is advice.
The mandate rule — read this one
TredX places the bid. Your bank then sends a UPI mandate to your phone, and the application is not confirmed until you approve it there. Nothing is ever taken without that tap.
Approve a mandate only when its reference number matches the one TredX sent to your chat app for that application. If a mandate arrives that you were not told about — different reference, different amount, different company, or no message from TredX at all — reject it. IPO season is when mandate phishing works best, precisely because people are expecting mandates.
The bot names the company, the account, the amount and the reference for every live application it places. If those four things do not match what your bank is showing you, the mandate did not come from us.
What is paper mode?
Everything except the order. The system picks the issue, works out the lots, writes the row and messages you — and stops short of telling the broker. It is how you watch the whole thing run for a couple of issues before any money is involved, and it is the default for a new account for that reason.
Does TredX hold my money or my shares?
No. It holds encrypted broker credentials and nothing else. Money moves between your bank and your broker; shares land in your demat account. There is no TredX wallet, no pooled account, and no route by which we could take a payout even if we wanted to.
It cannot sell for you either. Applying is the whole of what it does.
How are my credentials stored?
Encrypted, with a key that is not in the database. The Accounts page shows dots and never the values back — not even to you, because a page that can display a secret is a page that can leak one. If you lose a value, replace it rather than recovering it.
The TOTP seed is the sensitive one: whoever holds it can generate your broker login codes. It is stored the same way, and it never leaves the server.
Should I trust the grey-market premium?
Treat it as gossip with a number attached. GMP is an unofficial price quoted in an unregulated market by people with a position in the outcome. We show it because you would look it up anyway, and showing it beside the subscription figures is more honest than pretending it does not exist.
It is not a forecast, and it is routinely wrong.
What if the morning login fails?
It retries — three attempts at 07:30, one more at 09:15, one more at 10:15, five in a day at most. If all five fail you get a message in your chat app saying so, because a silent failure on the morning of an issue you wanted is the worst outcome available.
The usual cause is a rotated API secret or a changed Upstox PIN. Update the account and press Test connection.
How many allotment checks do I get?
Twenty a day without a subscription, a hundred with one. Counted per PAN, so checking three PANs against one IPO spends three, and counted per person — your allowance is yours and is not shared with anyone. It resets at midnight IST.
What does setup actually take?
About ten minutes per account, most of it copying two strings out of the Upstox developer console. Opening a broker account and e-signing DDPI take as long as the broker takes and are not something we can hurry.
The quick start walks through all of it. You do it once per account and then not again.
Nothing on this page is investment advice, and none of it is a promise about an outcome. More entries in a draw is more chances, not a better company — and a lottery you enter six times is still a lottery.