What Happens If the Final IPO Price Is Different From My Book Price on Pluang?
If the final IPO price is equal to or lower than your book price, your Indonesian stock e-IPO order on Pluang can go ahead, and you confirm it during the Offering stage by accepting the prospectus. Indonesian stock trading on Pluang is facilitated by PT Pluang Maju Sekuritas, a Securities Company licensed and supervised by OJK (KEP-196/PM/1992), together with PT Sarana Santosa Sejati, a Level II Securities Brokerage Marketing Partner licensed and supervised by OJK (4/PM.02/STTD/MPPPE/2024). If the final IPO price is higher than your book price, your order doesn't go through, and the app shows that your book price didn't match the IPO price. When that happens, the held amount is released to your RDN buying power, and you can place a new order at the final IPO price until the Offering period ends. Everyone who is allotted shares pays the same final IPO price, whatever book price they entered. An order that isn't confirmed before the Offering period ends isn't processed.
Final IPO price compared with your book price
| Final IPO price | What happens to your order | What you do |
|---|---|---|
| Equal to or lower than your book price | It can go ahead at the final IPO price | Confirm it during Offering by accepting the prospectus |
| Higher than your book price | It doesn't go through, and the held amount is released | Place a new order at the final IPO price before the Offering period ends, if you still want shares |
Good to know
- No automatic move to a higher price: an order isn't carried over to a final IPO price above your book price. If you still want shares, place a new order at the IPO price, and make sure the money you can withdraw from your RDN covers it.
- Confirm early. The confirmation deadline depends on each IPO's offering dates and is shown on the IPO's page, so confirm as soon as the final price is out.
- You never pay your book price. If the final price is lower, only the cost at the final price is debited at Distribution, and the rest of the held amount is released.
Learn more: Indonesian Stocks on Pluang and what an IPO is (Pluang Akademi).
Related questions
Q: How is the final IPO price set?
The company and its underwriters set the final IPO price at the end of Book Building, based on the demand from investors who ordered during that stage. It's announced at the start of the Offering stage and shown on the IPO's page in the app. Pluang doesn't set the price, and it's the same for every investor in that IPO.
Q: What happens if I don't confirm my e-IPO order?
Your order isn't processed, and the app tells you it couldn't be processed because it wasn't confirmed before the Offering period ended. The amount held for it is released to your RDN buying power. If you still want shares once the Offering period has closed, you can buy the stock after it lists on IDX, at the market price.
Q: Why do I need to confirm an order I already placed?
Because in Book Building you ordered before the final price was known. Confirming in Offering is how you agree to buy at the final IPO price and confirm you've had the chance to read the prospectus. Orders placed during Offering are already at the final price, so they're confirmed when you submit them.
Q: Can I raise my book price if I think the final price will be higher?
Yes, during Book Building, but not by editing it: cancel your order and place a new one with a higher book price within the price range. You can change only the number of lots on an existing order. A higher book price doesn't mean you pay more, because everyone pays the same final IPO price.
Last updated: 6 November 2026