How to Apply for IPO using UPI ID in 5 Steps

Unified Payments Interface has becomes a great option when it comes to investing and anyone eligible can apply for an Initial Public Offering (IPO). There is a very convenient way to easily apply for IPO using Unified Payments Interface in India and SEBI has made UPI the standard payment method for retail investors, ensuring safer, much faster and more convenient IPO applications.

1. What to Know Before Applying via UPI

Before you apply for an IPO through UPI, there are a few things you much know:

• You much have an active Demat Account with a depository participant (e.g., Zerodha, Upstox, Angel One, ICICI Direct). Without Demat Account, there is no other way to apply for IPO in India.
• You must have a active Bank Account linked with UPI (Google Pay, PhonePe, Paytm, BHIM, or bank UPI apps). There must be sufficient funds available in your bank account. If there is no amount in your bank account, sorry you can’t complete the process.
• Third in this list is that, your UPI ID must be registered with your broker or IPO platform. A reliable and registered broker is necessary for applying IPO. SEBI has mandates that every investor must have a valid UPI ID.

2. Choose the IPO You Want to Apply

• Now, you have to select the IPO for which you want to submit your application. For that you have to visit your broker’s trading mobile app/website or NSE/BSE online portals.
• From there select the IPO you want to apply for (example: Reliance Jio IPO). There are many IPOs listed, opt for your desired IPO.
• Before moving further, read all the details related to that IPO, carefully read the DRHP of the IPO. Also check the price band, lot size, opening & closing dates.

3. Enter Application Details

Open your broker’s app or website platform from where you are going to fill the application form for the IPO. Log in to your broker’s IPO section and fill in the required details. You must enter the correct investor details as required, such as:

• Name of applicant (as per PAN/Demat)
• Enter PAN Card Number
• Demat & Bank Account Details
• Investor Type (Retail, HNI, etc.)
• Number of Lots (as per lot size, e.g., 1 lot = 15 shares).
• Price (choose cut-off price if unsure).
• Payment Method
• Contact Details
• Your UPI ID (must match with your bank account).
• Declaration & Signature

Read the details carefully before submitting your IPO application to avoid errors or delays.

4. Submit the IPO Application

After carefully reading and filling out the form, review the details and then you have to submit your IPO online application on your broker’s platform. Once you submit your IPO application, a payment request (mandate) will be sent to your registered UPI app such as Google Pay, PhonePe, Paytm, or BHIM. You will have to approve this mandate to authorize the blocking of funds in your bank account. The money will remain blocked until the IPO allotment process is fully completed, if shares are allotted to you, the amount will be deducted from your bank account, and if not, it will be released back to your registered bank account automatically.

5. Check Allotment and refunds

After the IPO subscription period ends, you can check the allotment status through the registrar’s website (such as KFintech or Link Intime) or directly via your broker’s platform. If shares are allotted, they will be credited to your Demat account on the allotment date. In case you don’t receive any shares, the blocked funds will be released or unblocked automatically in your bank account within a few working days.

Frequently asked questions