Can we sell the stock allotted to us in an IPO before the stock gets listed?

No, you cannot do that in the stock market. But this can be done in the grey market or over the counter market through a trusted broker in your neighborhood. On the listing day a special trading session is commenced by the stock exchanges for price discovery of the IPO stocks. This session is called Pre-open session. The pre-open session is for 45 minutes (9:00 AM to 9:45 AM) during which orders can be entered, modified and canceled. Note: The listing price of the IPO share on the day of listing is determine by the demand and supply of IPO shares in the pre-open session. The price is discovered between 9:45 AM to 10 AM. Also the orders in the pre-open sessions are settled in this time based on 2 scenarios as below: If the listing price is equal or higher than the price you pre-open order to sell in pre-open; your shares are sold at the listing price in the pre-open trading session. If the listing price is lower than your sell order price in the pre-open market, your pre-open order will be canceled. The actual trading of IPO shares for public starts at 10 AM on the listing day.