No, we do not allow intraday (MIS) trading on the listing day of an IPO due to its huge volatility on the very first day. Nevertheless, you may sell the stocks allotted through IPO once the stock is listed. You may also purchase the newly listed company’s shares for delivery.
We allow intraday MIS trading only on a few select stocks, based on the risk categorization by our Risk Management Team. The stocks don’t go through that categorization on the debut day, hence the newly listed stock doesn't fall under the list (provided by the Risk Management Team) on the listing day. Click here to check the list of stocks on which we allow MIS trading.
The stocks are also prone to hit circuit limits on the listing day, due to which there is a very high likelihood of buy trades getting converted to delivery, and short delivery on sell trades.