How to apply for IPO in Zerodha?

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In this article, we’ll know how you can apply for IPOs (Initial Public Offerings) from your Zerodha Account. Earlier we use to apply for IPO through ASBA (Application Supported by Blocked Amount) from the bank’s net banking portal or through the bank via offline route.

Now you can apply for IPO directly on our own. All you need to do is enter the bid price, quantity & your UPI ID. You do not need to do any further physical documentation to apply for IPO from Zerodha.

What do you need to apply for an IPO?

If you want to apply for an initial public offer (IPOs) through the Zerodha Platform, you will now need a Unified Payment Interface (UPI) ID & Zerodha Account. If you already have both then you can apply for IPO directly. In case, if you don’t have the Zerodha account, Check this post for the Zerodha account opening.

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You can watch this video for installing UPI app.

Procedure for Applying an IPO In Zerodha

Step By Step procedure how you can apply for IPO in Zerodha through UPI.

Time needed to apply for IPO in Zerodha 5 minutes

Visit Zerodha Console

You first need to Visit Zerodha Console directly using the link or through Kite. Then you need to Click on the IPO section under Portfolio.Apply for UPI from Zerodha Console

Active IPO Details

Then you need to select the IPO you want to apply for from the list of open issues. You can directly click on Bid Details like the offer open date, closing date, issue size, lot size & DRHP.

Fill IPO application

When filling the IPO application form, You need to mention your VPA (Virtual Payment Address) or say UPI ID in the section where the payment details have to be provided.

Accept Request On Mobile UPI App

When you successfully place a bid then you will receive a mandate (collect) request on your UPI mobile app for authorizing blocking the required amount under ASBA. You will need to authorize the transaction using the UPI PIN. Accept the mandate & you’re done with IPO application.
When you confirm the request the Bid amount will be marked as a lien in your account by your bank (as per ASBA guidelines) & your bid will be registered with the exchange.

IPO Shares Allotment

When the issue closes & the basis of allotment proceeds. Till then, the amount will remain blocked in your bank account until the date of allotment (2 days before the listing date). The amount is debited depending upon the shares allotted & the rest of the blocked funds will be released on the date of allotment.Graph for explaining IPO allotment status

Final Thoughts

IPO window will remain open from 10 AM till 5 PM on trading days. Through UPI there is a limit of 2 lakh rupees for making an IPO application. Also, you can make only one application in an IPO allotment.

You have to use your Virtual Payment Address (UPI ID) for placing bids. If you are making an application using the UPI mechanism, ensure your bank account is adequately funded.

This way you can apply for IPO in Zerodha. Further, you can check IPO allotment status by visiting the website of the registrar (i.e. Linkintime, Karvy) once the allotment is done.

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