Investing in an Initial Public Offering (IPO) is one of the most popular ways for retail investors in India to enter the stock market early. Zerodha, India’s largest stockbroker, makes IPO applications simple, paperless, and fully online through its platforms. Whether you are a first-time investor or someone looking to streamline your IPO investments, understanding the correct process is crucial to avoid mistakes.
This article explains how to apply for an IPO in Zerodha, eligibility requirements, charges, bidding process, mandate approval, and common FAQs.
What Is an IPO?
An Initial Public Offering (IPO) is when a private company offers its shares to the public for the first time. Investors can apply for these shares during the IPO window at a fixed price band. After allotment, the shares get listed on stock exchanges like NSE and BSE.
Requirements to Apply for IPO in Zerodha
Before applying for an IPO through Zerodha, make sure you meet the following requirements:
- Zerodha Trading and Demat Account
You must have an active Zerodha account. - UPI ID Linked With Bank Account
IPO applications are processed through UPI ASBA (Application Supported by Blocked Amount). - PAN Linked With Bank & Demat Account
PAN should be linked and KYC must be complete. - Sufficient Bank Balance
The IPO amount will be blocked in your bank account until allotment.
Where to Apply IPO in Zerodha?
Zerodha allows IPO applications through:
- Console (web platform)
- Zerodha mobile app (via Console link)
⚠️ IPOs cannot be applied directly from the Kite trading terminal.
Step-by-Step Process to Apply for IPO in Zerodha
Step 1: Login to Zerodha Console
Visit console.zerodha.com and log in using your Zerodha credentials.
Step 2: Go to the “IPO” Section
- Click on Portfolio
- Select IPO
- You will see a list of active and upcoming IPOs
Step 3: Select the IPO You Want to Apply For
Click on the IPO you are interested in. You will see details like:
- Price band
- Lot size
- Minimum investment
- Issue dates
Step 4: Enter Bid Details
Fill in the following information carefully:
- Number of lots
- Bid price (you can choose Cut-off price for retail investors)
- UPI ID (linked with your bank account)
👉 Choosing Cut-off price increases your chances of allotment.
Step 5: Submit IPO Application
After entering all details:
- Click Submit
- Your application will be sent to the exchange
Step 6: Approve UPI Mandate
You will receive a UPI mandate request on your UPI app (Google Pay, PhonePe, Paytm, BHIM, etc.).
- Open your UPI app
- Approve the mandate before the IPO closes
⚠️ If you don’t approve the mandate, your IPO application will be rejected.
What Happens After Applying?
- The IPO amount gets blocked in your bank account
- If shares are allotted, the amount is debited
- If not allotted, the blocked amount is released
- Shares are credited to your Demat account on listing day
IPO Charges in Zerodha
Good news — Zerodha does NOT charge any brokerage or commission for IPO applications.
- IPO Application Charges: ₹0
- Only applicable charges are bank UPI mandate charges (if any)
IPO Allotment Status: How to Check?
You can check allotment status through:
- Registrar’s website (like Link Intime, KFintech)
- BSE website
- Zerodha Console (after allotment)
Can I Modify or Cancel an IPO Application in Zerodha?
Yes.
- You can modify or cancel your IPO application
- Only possible before the IPO closes
- Go to Console → IPO → Your Applications
Important Tips for IPO Investors
- Always apply using Cut-off price
- Use only one Demat account per PAN
- Apply early to avoid UPI delays
- Check company fundamentals before investing
- Don’t invest solely based on GMP (Grey Market Premium)
Common Reasons for IPO Application Rejection
- UPI mandate not approved
- Insufficient bank balance
- Incorrect UPI ID
- PAN mismatch
- Multiple applications using same PAN
Final Words
Applying for an IPO in Zerodha is a simple, fast, and fully digital process. With zero brokerage and seamless UPI integration, Zerodha has made IPO investing accessible even for beginners. By following the correct steps and approving your mandate on time, you can confidently participate in upcoming IPOs in India.
