Some investors use leverage to make money off of i pos. They borrow lots of money for a week or so, then sell all their shares when the stock begins trading and pocket the difference. For instance, look at what happened when paras defense and space technologies began trading earlier this month. Para saw massive over subscription - with hechenis willing to put up 25 thousand crow rupees when there were only one 70 crow rupee on offer. Starting next year, f i 23, no single invester can borrow more than one crow rupees from non bank financial companies if they are using it to subscribe to an ipo.