How to Apply for an IPO in Zerodha: Step-by-Step Guide

How do you apply for an IPO in Zerodha? Log in to Kite (web or app), go to Orders, then IPO, select the IPO, enter your UPI ID, quantity, and price, submit, then approve the UPI mandate in your UPI app before the closing day cut-off. You can also use the ASBA net banking route. This guide covers both methods, checking your allotment, and fixing common issues.

Applying for an IPO through Kite

On Kite web:

1. Log in to kite.zerodha.com.
2. Click Orders, then IPO.
3. Choose the IPO and click Apply.
4. Enter your UPI ID linked to your bank.
5. Enter quantity and price (must match the lot size).
6. Tick the undertaking checkbox and click Submit.
7. Go to your UPI app and authorise the mandate before 5 PM on the IPO’s closing day.

On the Kite mobile app:

1. Open the Kite app.
2. Tap Orders, then IPO.
3. Select the IPO and click Apply.
4. Enter your UPI ID, quantity, and price.
5. Accept the UPI mandate in your UPI app to block funds.

IPO orders can be placed between 10 AM and 4:30 PM, and pre-applications can be submitted a day before the IPO opens. Allotment chances remain the same regardless of when you apply.

Setting up UPI mandate and ASBA

You can choose the default UPI mandate or the ASBA net banking method, based on your eligibility.

UPI mandate (default for most investors): Zerodha uses UPI for simple, secure IPO payments under ₹5 lakh. When you apply, a UPI mandate is sent to your UPI app. Accept it with your UPI PIN, and your amount is blocked, not deducted. If you get an allotment, the amount is debited; if not, it is released.

ASBA (net banking): You can apply without UPI using the ASBA (Application Supported by Blocked Amount) route:

1. Log in to your bank’s net banking portal (must support ASBA).
2. Go to the IPO/ASBA section.
3. Enter your Zerodha 16-digit Demat ID and bid details.
4. Submit the bid.

Funds remain blocked until allotment. ASBA suits minors, HUFs, NRIs, and corporates, who may not be eligible for UPI-based applications.

Checking your IPO allotment status

Once the IPO closes:

1. Visit the NSE IPO status portal.
2. Enter your PAN or application number (which includes your 6-digit Zerodha ID).
3. You will see whether shares were allotted.

Allotted shares are credited to your Zerodha Demat account 1 to 2 days before listing, and you receive a confirmation email or SMS from Zerodha and the exchange.

Common issues and how to fix them

Didn’t get the UPI mandate?

• Check your UPI ID is correct and linked to your bank.
• Make sure your UPI app is updated.
• Mandates can take time, especially after 4:30 PM.
• If not received, cancel and reapply before the cut-off.

IPO bid rejected?

• Common reasons include an incorrect UPI ID, a failed mandate, or a PAN/Demat mismatch.
• Minor accounts usually can’t use UPI, so use ASBA instead.
• A dormant account can apply but can’t sell until reactivated.

Bid modified but amount not updated?

• You must accept the new mandate after changing the quantity or price. The earlier blocked amount won’t change until the new mandate is approved.

To avoid delays, apply before 3 PM on the closing day even though the window is open until 4:30 PM (4 PM for HNIs). Shares are credited 1 to 2 days before listing, and under SEBI rules IPOs list within T+3 working days.

For a full breakdown of the broker, see our detailed Zerodha review.

Conclusion

Applying for an IPO through Zerodha is simple, fast, and secure. You can use the Kite app or website with UPI or ASBA. Just remember to apply before 4:30 PM and accept the UPI mandate on time. Because Zerodha is SEBI-registered and your money stays blocked in your bank account until shares are allotted, it is a secure way to apply for IPOs.

Frequently asked questions

What is the minimum amount to apply for an IPO in Zerodha? It is based on the IPO’s lot size. For example, if the lot size is 30 shares at ₹400, the minimum application is ₹12,000 (30 × ₹400).

When can I apply for an IPO through Zerodha? From 10:00 AM on the opening day to 4:30 PM on the closing day. You can also pre-apply one day before the IPO opens.

What is the IPO cut-off time in Zerodha? The order cut-off is 4:30 PM, but it is best to apply before 3 PM on the closing day to avoid exchange submission delays.

Can I apply for multiple IPOs through Zerodha? Yes, as many as you wish, provided you have funds and a valid UPI mandate for each application.