What Is e-IPO for Indonesian Stocks on Pluang?
e-IPO is a planned Pluang feature that will let you participate in Indonesian stock IPOs (Initial Public Offerings) directly through the app — ordering shares in companies going public on the Indonesia Stock Exchange (IDX/BEI) before they list for regular trading. e-IPO is not yet available on Pluang: the feature is currently awaiting regulatory approval before it can launch. Once live, participation will follow the standard four-stage IDX e-IPO process — Book Building, Public Offering, Allotment, and Distribution + Listing — the same process used across Indonesia's e-IPO system, rather than a Pluang-specific procedure. To participate once the feature launches, you'll need completed Indonesian Stocks (IDSS) KYC and an active RDN, both of which most existing Indonesian Stocks users on Pluang already have in place from account opening.
The 4 stages of an e-IPO (planned process):
| Stage | What happens |
|---|---|
| 1. Book Building | The IPO opens for orders at a price range, not yet final. You submit your desired price and lot quantity; funds go "On Hold" in your RDN. One order per IPO; amend (lot only) or cancel until Public Offering ends |
| 2. Public Offering (Penawaran Umum) | The final IPO price is set. If it matches your order, you confirm by accepting the prospectus; if not, your order drops but you can place a new one at the final price. Orders here cannot be cancelled or amended |
| 3. Allotment (Penjatahan Efek) | Shares are allocated; if oversubscribed, you may receive fewer lots than ordered — excess funds return to your RDN |
| 4. Distribution + Listing | Shares land in your Pluang portfolio and become tradable; Distribution is D+1 after allotment, Listing is D+1 after distribution (non-holidays only) |
Requirements to participate once launched:
- Completed Indonesian Stocks (IDSS) KYC on Pluang
- An active RDN — opened automatically during IDSS KYC
- No separate e-IPO registration step — Pluang will handle this automatically on your first order
Related questions:
Q: When will e-IPO launch on Pluang?
There is no confirmed launch date yet — Pluang is currently awaiting regulatory approval before the feature can go live. Once a launch date is confirmed, an e-IPO icon will appear on the Pluang homescreen whenever there's an ongoing IPO, and the feature will also be reachable through the Explore section, so no separate download or update should be needed to access it.
Q: Will I be able to cancel my e-IPO order once the feature launches?
Based on the planned process, yes — you'll be able to cancel during the Book Building stage and up until the end of the Public Offering period. Once Public Offering closes, cancellation will no longer be possible, and any order placed during that window will be locked in until allotment results are confirmed.
Q: What will happen to my funds while an e-IPO order is pending?
Under the planned design, your funds will be placed "On Hold" in your RDN wallet from the moment you submit an order, remaining there until shares are distributed to your portfolio or the order is cancelled. If you receive fewer lots than ordered due to oversubscription, the excess funds will be returned to your RDN automatically.
Q: How many e-IPO orders can I place for a single IPO?
The planned design allows only one order per IPO — you'll be able to amend the lot quantity during Book Building, but you won't be able to place multiple separate orders for the same IPO. This mirrors how e-IPO systems work elsewhere in the Indonesian market, not a Pluang-specific restriction.
Q: Do I need special KYC beyond regular Indonesian Stocks verification to use e-IPO?
No additional KYC is expected beyond what's already required for Indonesian Stocks trading. If you've completed Indonesian Asset Verification and have an active RDN, you should be ready to participate in e-IPO as soon as the feature becomes available — Pluang plans to register your e-IPO system access automatically on your first order.