Regarding IPO knowledge, first we need to understand below points:

1. Indian IPO market: India is one of the largest IPO markets in the world, attracting the attention of a large number of domestic and foreign companies. The Indian Stock Exchange (BSE) and the National Stock Exchange (NSE) are the major stock exchanges in India.
2. Indian IPO regulatory agency: The Securities and Exchange Board of India (SEBI) is the Indian securities market regulatory agency responsible for supervising and regulating the Indian IPO market.
3. IPO application process: Before a company can conduct an IPO, it needs to submit a prospectus to SEBI for review and meet certain listing conditions. Once approved by SEBI, the company can start issuing shares to the public.
4. IPO pricing: During the IPO process, the company needs to determine the issue price of the stock. Typically, companies work with underwriters to determine the offering price based on factors such as market demand and company valuation.
5. Investor participation: Any qualified individual or institution can purchase shares of Indian IPOs. Typically, investors can purchase through a brokerage firm or bank’s online platform.
6. IPO market outlook: Once a stock is successfully listed, its price will be affected by market supply and demand, company performance and other factors. Investors need to pay close attention to the company’s business development and market conditions to make informed investment decisions.

Characteristics of IPO investment.

1. Earn high returns: Successful IPOs often bring high returns to investors. Some companies’ stock prices will rise sharply after they go public, allowing investors to make huge profits.
2. Participate in growth of companies: By investing in IPOs, investors have the opportunity to participate in some companies with high growth potential. These companies are typically in the early stages of development and are expected to achieve higher growth and profitability in the future.
3. Portfolio diversification: Investing in Indian IPOs can help investors diversify their investment portfolios. By spreading their funds across different industries and companies, investors can reduce risk and increase overall returns.
4. Participate in economic growth: India is a country with a rapidly growing economy. Investing in Indian IPOs allows investors to share the dividends of India’s economic development. As India’s economy continues to grow, many businesses can expect to see better performance and returns.
5. Provide liquidity: After the stock is successfully listed, investors can buy and sell through the stock exchange to obtain liquidity. This means investors can buy and sell stocks whenever they want.

There are following restrictions to apply in IPO:

1. Minimum investment amount: People applying for an IPO need to meet the minimum investment amount requirements. The specific amount may vary between IPOs, but is usually higher, meaning some small investors may not be able to meet the requirements.
2. Lack of information transparency: For ordinary investors, it may be difficult to obtain detailed information about the IPO. Companies may only publish information on limited media channels or provide detailed research reports and analysis only to institutional investors.
3. High risk: IPO is a high-risk investment method because the business and financial status of newly listed companies may be unstable. For the average investor, assessing the risks and potential rewards of a newly public company can be difficult.
4. Restrictive regulations: The Securities and Exchange Board of India (SEBI) has some restrictive regulations on IPOs. For example, a single investor can only apply for a certain number of shares at a specific time. These regulations may limit opportunities for ordinary investors to participate in IPOs.