LearnHow to apply for an IPO online
How to apply for an IPO online
Updated 4 Nov 2026 · IPO Radar · tables below update with the live sheet
To apply for an IPO you need a demat account, a UPI ID linked to your bank (or ASBA net banking) and the money for at least one lot. You place the bid in your broker's app, approve the UPI mandate that blocks the amount, and the money is only debited if you are allotted.
What you need
- A demat and trading account (any broker: Zerodha, Groww, Upstox, Angel One, your bank's broker and so on).
- A PAN linked to that demat account. One application per PAN per IPO.
- A UPI ID in your own name, on a bank account in your own name, for bids up to ₹5 lakh. Above that, use ASBA through net banking.
- Enough balance to cover your bid at the top of the price band. The amount is blocked, not debited, until allotment.
Steps to apply (any broker app)
- 1Open the IPO section of your broker app (Zerodha: Console or Kite → Bids → IPO; Groww: Stocks → IPO).
- 2Pick the IPO and choose your category — Individual for bids up to ₹2 lakh. Shareholder or employee quotas show up only if you qualify.
- 3Enter the number of lots. Retail investors can tick Cut-off price: you bid at whatever final price is fixed, and the top of the band is blocked.
- 4Enter your UPI ID and submit. The broker sends the bid to the exchange.
- 5Approve the mandate request in your UPI app (it can take a few minutes to arrive). The bid is valid only after you approve it.
- 6Check the status on the exchange or your broker app. After the close, wait for the basis of allotment.
Timings and the T+3 timeline
Bids are accepted from 10 AM to 5 PM on bidding days. On the last day bidding closes at 4 PM IST, and UPI mandates must be approved by 5 PM — a bid whose mandate is approved later is rejected.
Since December 2023 every IPO follows T+3, where T is the closing day: allotment on T+1, refund (unblocking) and share credit on T+2, listing on T+3.
- T — issue closes (4 PM bidding cut-off, 5 PM UPI cut-off).
- T+1 — basis of allotment; check allotment status.
- T+2 — blocked money released if not allotted; shares credited to demat if allotted.
- T+3 — shares list and start trading.
IPOs you can apply for now
Open and upcoming issues, with closing date and minimum application:
| IPO | Closes | Min. application | Board |
|---|---|---|---|
| Antala Industries | 5 Nov | ₹2,64,000 | SME |
Live from the IPO GMP sheet. GMP is unofficial; expected listing = top of the band + GMP.
Mistakes that get bids rejected
- Two applications with the same PAN in the same IPO (even from different brokers) — all but one, or all, can be rejected.
- Using someone else's UPI ID or bank account.
- Approving the UPI mandate after 5 PM on the closing day.
- Bidding above ₹2 lakh in the retail (Individual) category.
- Not keeping the blocked amount in the account until allotment.
Questions people ask
Can I apply for an IPO without a demat account?
No. Allotted shares are credited to a demat account, so you need one linked to your PAN before you apply.
Is money debited when I apply for an IPO?
No, it is only blocked through the UPI mandate or ASBA. It is debited if you are allotted and released by T+2 if you are not.
What is the last time to apply for an IPO?
4 PM IST on the closing day for bids, and 5 PM for approving the UPI mandate. Brokers often stop taking bids a little earlier.
What is cut-off price in an IPO?
An option for retail investors to bid at whatever final issue price is set within the band. The amount at the top of the band is blocked; any difference is released after allotment.