The stock exchanges accept IPO applications during the IPO subscription period from 10 am to 5 pm. However, many brokers/banks offer the opportunity to submit IPO applications after 5:00 p.m., except on the last day of the subscription period. If your broker offers this option, you may place your orders after the market closes, once the IPO is open for public subscription. However, the application will only be uploaded to the exchange system by 10 AM the next day. Offline IPO orders can be submitted to the broker at any time during the IPO window before 5 pm on the last day.