โก Choose Your Application Method
๐ฑ UPI Method
Recommended ยท 2 minutes
๐ฆ ASBA via Bank
Net Banking ยท 5 minutes
๐ป Broker App
Zerodha / Groww etc.
๐ฑ Fastest method โ works on any broker app or bank's BHIM/net banking portal. Most popular with retail investors.
1
Open your broker app or net banking
Log in to Zerodha Kite, Groww, Upstox, or your bank's net banking portal. Look for "IPO" section โ usually under Investments or Markets tab.
2
Select the IPO you want to apply for
Browse current open IPOs. Click on the IPO name to open the application form. Verify details โ price band, lot size, open/close dates.
3
Enter bid details
Select category (Retail / NII). Enter number of lots (1 lot minimum). Select Cut-off price for price โ this is recommended for retail investors as it ensures your bid is valid at whatever final price is set.
๐ก Always select "Cut-off price" โ don't enter a custom price below the upper band.
4
Enter your UPI ID
Type your UPI ID (e.g. 9876543210@ybl or name@oksbi). Double-check it โ a wrong UPI ID will cause your application to be rejected.
5
Submit the application
Review all details and click Submit. A UPI payment request (mandate) will be sent to your UPI app (BHIM, PhonePe, GPay, or your bank's UPI app).
6
โ ๏ธ Approve the UPI mandate โ Most Critical Step
Open your UPI app. You'll see a pending mandate for the IPO amount. Tap Approve. Enter your UPI PIN to confirm. The amount will be blocked (not deducted) in your account.
๐จ You MUST approve within 1 hour or your application will be auto-rejected. Don't close the UPI app before approving.
7
Application confirmed โ
Once you approve, you'll get a confirmation SMS/email with your application number. Save this. You can track your application status on the registrar's website after allotment.
๐ก Check allotment status on the registrar's website using your PAN number, about 6 days after the IPO closes.
๐ฆ The classic method via your bank's net banking. More steps but works even without a broker account. Recommended if UPI is not available.
1
Log in to your bank's net banking
Go to your bank's net banking portal (SBI, HDFC, ICICI, Axis etc.). Look for "IPO / ASBA" under the Investments or Requests section.
2
Select IPO and enter Demat details
Choose the IPO from the list. Enter your Demat account number (DP ID + Client ID or 16-digit beneficiary ID). This is where shares will be credited if allotted.
3
Enter bid details
Fill in number of shares (must be in multiples of lot size), bid price (select cut-off), and category (Retail for applications up to โน2 lakh).
4
Submit and authorise
Submit the ASBA form. The bank will block the bid amount in your account. You'll receive an application number via SMS. The blocked amount earns interest till allotment.
๐ก Your ASBA application is processed by the bank directly โ it doesn't go through your broker.
๐ป Most beginner-friendly. Broker apps like Zerodha Kite, Groww, or Upstox have a clean IPO section with guided steps.
1
Open broker app โ IPO section
Zerodha: Kite app โ top menu โ IPO
Groww: Home โ Stocks โ IPO
Upstox: Markets โ IPO
Angel One: IPO tab on home screen
2
Select IPO โ Apply
Tap on the open IPO, review details, and tap "Apply". Select number of lots and choose cut-off price.
3
Enter UPI ID โ Submit
Enter your UPI ID linked to your bank account. Submit the application. All broker apps internally use UPI/ASBA โ same mandate approval required.
4
Approve UPI mandate in your payments app
Open PhonePe / GPay / BHIM / your bank's UPI app. Approve the pending IPO mandate. Enter UPI PIN. Done.
๐จ Approve within 1 hour. If you miss it, your entire application is cancelled โ you'll need to re-apply within the IPO window.
โ Frequently Asked Questions
Can I apply for an IPO without a Demat account? โพ
No. A Demat account is mandatory to receive allotted shares. You can open a free Demat account with Zerodha, Groww, or Upstox in 10โ15 minutes online.
How many lots should I apply for as a retail investor? โพ
For oversubscribed IPOs, apply for exactly 1 lot. Applying for more lots (2, 3, 5 lots) does NOT increase your allotment chances โ you'll still get 1 lot or nothing via lottery. Save the extra money. Exception: if you genuinely want more shares for long-term holding and don't mind the locked capital.
When will my blocked money be returned if I don't get allotment? โพ
Within 6 working days of the IPO closing date. For UPI applications, the mandate is simply cancelled โ the money was never actually deducted. For ASBA, the bank unblocks the amount.
Can I modify or cancel my IPO application after submitting? โพ
Yes, you can modify (change lot size or bid price) or withdraw your application before the IPO closes. You cannot modify after the IPO window closes. Modification can be done through the same broker platform you used to apply.
I didn't get allotment. What happened to my money? โพ
Nothing was ever deducted. In UPI method, the mandate (block) is cancelled. You'll see the amount available in your account within 1โ2 days of allotment date. In ASBA, the bank removes the block on the same day.
Can I apply for the same IPO from two different broker accounts? โพ
No. You can only submit ONE application per PAN number, regardless of broker. Multiple applications from the same PAN are rejected. However, different family members with different PANs can each apply from their own accounts.
How do I check if I got IPO allotment? โพ
On allotment date, visit the registrar's website (Kfin Technologies, Link Intime, or Bigshare โ shown on our IPO detail pages). Enter your PAN number or application number or Demat account number. You can also check on BSE's website at bseindia.com โ Investors โ IPO โ Allotment Status.
Should I sell on listing day or hold? โพ
This is a personal decision and not investment advice. Common approaches: (1) Sell at listing for quick listing gain if GMP was high. (2) Hold if the company has strong fundamentals and you believe in long-term growth. (3) Sell a portion to recover cost, hold rest. Always do your own research. We are not SEBI-registered advisers.
๐ฅ Don't have a Demat account yet?
Open a free Zerodha account in 10 minutes and start applying for IPOs. Get โน100 reward via our referral link.
โก Open Free Zerodha Account
Max 5 โน100 reward claims/month ยท Email your Client ID to contact@ipobee.in