Frequent mistakes include ignoring the minimum investment, missing the UPI mandate deadline, relying on unofficial premiums, and not checking how much of the issue is an offer for sale rather than money for the company.
Another common one is treating listing gains as certain. Listing prices can be below the issue price.
An easy example
Applying to an IPO purely because a messaging group mentioned a high grey market premium, without reading what the company does.
Important note
Reading the risk factor section of the prospectus takes about fifteen minutes and covers what can go wrong.
Common mistake
Applying in multiple retail applications with the same PAN. Duplicate applications are rejected.