How to Buy IPO in Zerodha? Steps to Apply Online using UPI

How To Apply For An IPO In Zerodha? Step-by-Step Online Procedure

2 Min Read |  April 27, 2021


Wondering how to buy IPO in Zerodha? If so, then stop wondering and start reading because in this blog we have described steps to apply for an IPO in Zerodha using UPI. 

An IPO (initial public offering) is the process where a private limited company offers its shares to the public by listing itself on the stock exchange. An IPO lets a company raise fund from public investors who invest in IPOs in exchange for shares in the company.

Before we proceed further, you must know that to apply for an IPO, you must open a Demat account with Zerodha

There are various ways through which you can apply for an IPO. Earlier, people used to apply for an IPO in Zerodha only through the ASBA (Application Supported by Blocked Amount) from their respective bank’s net banking website. Or there was also an option for applying for IPO by visiting a bank and submitting a hard copy of the application with your Zerodha Demat account number. 

However now, the SEBI has asked all the IPOs to be supported by UPI 2.0 mandatorily. This indicates that now Zerodha or any other brokerage firms can support IPO applications on their own. All you are required to do is to place the bid price, quantity and your UPI ID. 

For complete steps to apply for an IPO through Zerodha, stay with us until the end of this blog. 

How to Buy IPO in Zerodha using UPI?

Zerodha offers you the flexibility of using any UPI 2.0 enabled app (listed on NPI’s website) to apply for an IPO through its app. Install any of the supported UPI apps and follow the steps enlisted below:

Step 1: Foremost, you need to log in to Console Zerodha, then select ‘IPO’ in the ‘Portfolio’ menu.

Step 2: Secondly, from the list of open issues, choose the IPO you wish to apply for. 

Step 3: Now, enter your UPI ID that will be verified to confirm its validity. Also, you must ensure that your UPI ID is linked to your personal bank account. In case the person applying for IPO is different from the one whose bank account is used to apply, the IPO application will get rejected. 

Step 4: Now you can place your bid. For this, you need to select the investor type for your application. 

Note: While placing bids, only a multiple of the lot size quantity is allowed. In case you want to apply at the cut-off price, simply click on the checkbox next to ‘Cutoff-price’. However, if you wish to place a bid at a different price, you can do so by entering a price in the ‘Price’ field. 

Step 5: Once you are done with the above steps, click on the checkbox to confirm that you have read the RHP as well as documents. Then, click on the submit button. 

Step 6: Next you need to accept the mandate request received on your BHIM UPI App. 

Step 7: Once you have submitted the IPO bid, the exchange will send you an SMS confirming your application. 

Meanwhile, you can review the status of your order by selecting the IPO you have applied for. You will get to see the last updated bids in your application.

Zerodha IPO Charges

Zerodha doesn’t charge you fees for applying in an IPO. It’s absolutely free.

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