How to Apply for an IPO in India — Complete Guide 2026
Step-by-step guide to applying via UPI ASBA and broker platforms. For beginners and experienced investors.
What You Need Before Applying
PAN Card
Mandatory. One application per PAN allowed per IPO.
Demat Account
Shares are credited here after allotment. Open free with Zerodha or Upstox.
UPI ID / Bank Account
For blocking application money via UPI ASBA or ASBA through bank.
Method 1: Via Broker App (Recommended)
UPI ASBA through Zerodha, Upstox, Angel One — fastest and simplest
1
Log into your broker app
Open Zerodha Kite, Upstox Pro, Angel One app, or your preferred broker platform.
2
Navigate to IPO section
Look for "IPO" in the main menu. All currently open IPOs will be listed here.
3
Select the IPO
Tap on the IPO you want to apply for. Review the price band, lot size, and minimum investment.
4
Enter bid details
Select number of lots (1 lot minimum), choose "Cut-off price" (recommended), enter your UPI ID.
5
Submit application
Review and submit. You will receive a UPI collect request on your UPI app.
6
Approve UPI mandate
Open your UPI app (PhonePe, GPay, BHIM, Paytm). Approve the mandate within 24 hours. Money is blocked — not debited.
7
Check allotment
After subscription closes, check allotment on the registrar website using your PAN.
Method 2: Via Bank Net Banking (ASBA)
Mandatory for NII/HNI investors (applications above ₹2 lakh) and NRIs
1
Log into your bank's net banking
Go to Investments or IPO section. Most major banks (SBI, HDFC, ICICI, Axis, Kotak) support ASBA.
2
Select IPO from list
Choose the IPO from available issues. Enter your Demat account number and DP ID.
3
Enter bid details
Select price, quantity, and choose "Cut-off price". Ensure PAN matches your Demat account exactly.
4
Submit and confirm
Review all details carefully. Submit. Application money is blocked in your bank account immediately.
5
Wait for allotment
If allotted, the exact amount is debited on allotment date. If not, the block is released automatically.
10 Tips to Maximize Your IPO Allotment Chances
Always bid at cut-off price — never at a specific lower price
Apply from multiple family member demat accounts (1 per PAN)
Apply on Day 1 or Day 2 — avoid last-day server overloads
Approve UPI mandate immediately after applying
Ensure your bank account has sufficient balance for the block
Use the same PAN for all applications — no duplicates
Check your application status on the BSE website after submitting
Never apply for multiple lots hoping for more — it doesn't help in retail category
Read the RHP before applying — especially risk factors and financials
Set up IPO alerts on IPOGenie Telegram to never miss a good opportunity
Don't have a Demat Account yet?
Open a free account in 10 minutes and start applying for IPOs today: