@Akki J @Ghost rider Nowadays SME ipos are overscribed manifold, so liquidity is not a problem atleast for few days to weeks, in such highly oversubscribed ipos. Yes listing gains vary in preopen to followup days. Some ipos lists very high & then decrease on same day or next days (as company circle usually try list the script as high as possible, grey people try to list high or low as per their own gain), & some list low but rise in coming days.
Also many poorly subscribed ipos are usually posted at par or little high due to operator play, & go to minus as operator is vanished, so in such ipos, better to book profit at preopen or earliest.