Praise be to Allah.
There is no basis for that, and there is no report from the Messenger of Allah (blessings and peace of Allah be upon him) to suggest that he used to offer any supplication between the iqamah and the start of the prayer. There is no report to suggest that he raised his hands at this time; rather it is not appropriate for anyone to do that, because it is contrary to the Sunnah. End quote.
Shaykh ‘Abd al-‘Aziz ibn Baz (may Allah have mercy on him)
Fatawa Nur ‘ala ad-Darb (2/1058)