Before You Apply: What You Need
- A Demat account (with CDSL or NSDL)
- A trading account or bank account with IPO application facility
- A UPI ID or bank mandate for ASBA
- Your PAN card
Method 1: Apply via UPI (Recommended for Retail Investors)
UPI-based IPO application is the simplest method. Here's how:
- Log in to your broker app (Zerodha, Groww, Upstox, Angel One, etc.)
- Go to IPO section → find the open IPO
- Enter the number of lots you want to apply for
- Select cut-off price (recommended for retail investors)
- Enter your UPI ID and submit
- Open your UPI app and approve the payment mandate within 30 minutes
The amount is blocked (not debited) until allotment. If not allotted, the block is released automatically.
Method 2: Apply via ASBA (Supported Applications Blocked by Amount)
ASBA is done directly through your bank's net banking portal (SBI, HDFC, ICICI, etc.):
- Log in to net banking → find IPO/ASBA section
- Select the IPO and enter lot quantity
- Submit — your bank auto-blocks the application amount
What is Cut-Off Price?
Selecting cut-off price means you're willing to pay whatever the final issue price is (within the price band). This is recommended for retail investors — it ensures you don't miss out if the price is revised upward.
How Many Lots Can You Apply For?
As a retail individual investor (RII), your total application value cannot exceed ₹2 lakh. Most IPOs have a minimum of 1 lot.
Allotment Timeline
- IPO closes: Day 0
- Allotment: ~6 days after close
- Refunds/unblocking: 1–2 days after allotment
- Listing: ~T+6 days from close
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