On Upstox when you select IOC under order validity, the order will be executed only if there is security available immediately, if it’s not your order will be canceled. Sometimes securities could also be partially available, in such a case your partial order will be executed.
Since market prices of stocks fluctuate every second, investors usually use IOC orders when they’re placing a large order and want to avoid having their order placed at multiple prices.
If you do not wish your order to be canceled, you can select the DAY option under validity. When you select DAY your order will be open for that entire day on which it is entered. Only if by chance it doesn’t get executed on that day your order will automatically be canceled.
To know more about how to place an order on Upstox, click here.