Retail investments in IPOs are routed through the ASBA route. Applications Supported by Blocked Amounts (ASBA) ensure that the amount is debited to your account only after the shares are allotted. Thus, unlike in the past, the small investor does not lose interest on the amount not allotted and therefore works out more economical for him. A word of caution is warranted here. There is no empirical evidence to say that IPOs have done better than secondary markets in terms of performance. However, tighter regulation has made IPOs a safer and more profitable market to participate in.