Companies making initial public offerings (IPO) draw a lot of investor attention. Some of the recent IPOs have attracted a very high number of applications. But the shares are allotted to a few investors, and that also does not exceed Rs 15,000 in value. To cash in on the gains made by a newly listed stock, some investors, who don’t receive an allotment, try to buy it later or remain unsure about taking a position. For IPO stocks, there is no history of a price-volume action, so it is difficult to gauge the top. So be cautious while investing in the newly listed IPO companies.