This comprehensive guide walks you through the complete process of applying for an Initial Public Offering (IPO) through Angel One. Whether you’re a first-time investor or an experienced trader, this step-by-step walkthrough covers UPI and ASBA methods, modifying or cancelling applications, checking allotment status, and common troubleshooting tips. Angel One offers free IPO applications with no brokerage charges.
- 1. Prerequisites for Applying
- 2. Apply Using UPI (Recommended)
- 3. Apply via Angel One App
- 4. Apply via Angel One Website
- 5. ASBA Method (Net Banking)
- 6. Understanding UPI Mandate
- 7. Modify or Cancel Application
- 8. Check Application Status
- 9. IPO Allotment Process
- 10. Selling IPO Shares
- 11. Tips for Better Allotment
- 12. Troubleshooting Common Issues
- 13. Frequently Asked Questions
1. Prerequisites for Applying
Before you can apply for an IPO through Angel One, ensure you have the following requirements in place:
| Requirement | Details |
|---|---|
| Angel One Account | Active Demat and Trading account with Angel One |
| PAN Card | Valid PAN linked to your Demat account |
| Bank Account | Savings account (preferably) with sufficient balance |
| UPI ID | UPI ID from NPCI-approved apps (BHIM, Google Pay, PhonePe, etc.) |
| Mobile Number | Registered mobile number linked to your accounts |
Your Bank Account, Demat Account, and UPI ID must all be mapped to the same PAN. Using someone else’s UPI ID will result in application rejection.
2. Apply Using UPI (Recommended)
The UPI (Unified Payments Interface) method is the most convenient and widely used method for applying to IPOs. SEBI has made it mandatory for brokers to offer UPI 2.0 option for IPO applications.
Advantages of UPI Method
Only UPI IDs/Handles approved by NPCI are allowed for IPO applications. If your UPI handle is not listed in the dropdown, try creating an alternative UPI ID with Google Pay, PhonePe, Paytm, or BHIM app.
3. Apply via Angel One Mobile App
The Angel One mobile app provides the most convenient way to apply for IPOs. Follow these simple steps:
For retail investors, always tick the “Cut-off Price” checkbox. This ensures your bid is at the final issue price and increases your chances of allotment.
4. Apply via Angel One Website
You can also apply for IPOs through the Angel One web platform. The process is similar to the mobile app:
5. ASBA Method (Net Banking)
ASBA (Application Supported by Blocked Amount) is an alternative method where you apply through your bank’s net banking portal. The bid amount is blocked in your account until allotment.
Online ASBA Process
You can find your 16-digit Demat ID in the Angel One app under Profile > Account Details, or in your welcome letter, back office software, or monthly demat holding statement. The Depository is CDSL and DP Name is “Angel One” or “Angel Broking”.
Offline ASBA Process
If you prefer the offline method:
- Download the blank ASBA form from NSE or BSE website
- Fill in your personal details, Demat account information, bid quantity, and price
- Submit the completed form to your bank branch (must be a Self-Certified Syndicate Bank)
- The bank will process your application and block the bid amount
6. Understanding UPI Mandate
The UPI mandate is a crucial step in the IPO application process. Here’s what you need to know:
Pending mandates expire after 5 PM on the last day of the IPO. You must accept the mandate before this deadline to participate in the IPO. If you don’t see the mandate, check the mandate section of your UPI app or try updating the app.
7. Modify or Cancel Application
Angel One allows you to modify or cancel your IPO bid while the IPO is open for subscription. Here’s how:
How to Modify Your Bid
You can modify the lot size and UPI ID of your IPO bid after placing an order:
If you have already approved the UPI mandate and then modify your order, the entire new bid amount will be blocked in addition to the original amount. You will receive a new mandate request for the modified bid.
How to Cancel Your Bid
| Investor Category | Can Modify? | Can Cancel? |
|---|---|---|
| Retail Individual Investors (RII) | Yes (increase or decrease) | Yes |
| Non-Institutional Investors (NII/HNI) | Yes (upward revision only) | No |
| Qualified Institutional Buyers (QIB) | Yes (upward revision only) | No |
8. Check Application Status
You can check your IPO application status directly in the Angel One app:
Application Status Types
| Status | Meaning |
|---|---|
| Ordered | Bid placed, waiting for UPI mandate approval |
| Mandate Pending | Mandate request sent to your UPI app, awaiting approval |
| Mandate Approved | Mandate accepted, funds blocked in your account |
| Submitted | Application successfully submitted to the exchange |
| Cancelled | Application has been withdrawn |
| Rejected | Application rejected (check reason) |
9. IPO Allotment Process
After the IPO subscription period closes, the allotment process begins:
How to Check Allotment Status
You can check your IPO allotment status through multiple channels:
Angel One will notify you of your IPO allotment status via push notification and email. You will also receive an SMS from CDSL/NSDL when shares are credited to your Demat account on the listing day.
10. Selling IPO Shares
Once you receive IPO allotment and shares are credited to your Demat account, you can sell them on the listing day or later:
On listing day, there can be high volatility. If you wish to sell at market open, place a limit order at your desired price before 9:00 AM. Market orders during opening can execute at unexpected prices.
11. Tips for Better Allotment Chances
While IPO allotment is never guaranteed, here are strategies to improve your chances:
| Tip | Explanation |
|---|---|
| Apply at Cut-off Price | For retail investors, applying at cut-off price increases allotment chances as your bid matches the final issue price |
| One Application Per PAN | Submit only one application per PAN. Multiple applications with the same PAN will be rejected |
| Apply with Family Members | Use different Demat accounts linked to different PANs (spouse, parents) to increase overall chances |
| Apply Early | Don’t wait until the last day. Technical issues may prevent submission |
| Use Minimum Bid Size | For heavily oversubscribed IPOs, applying for minimum lot gives same probability as larger bids (in retail category) |
| Ensure Matching Details | Bank account, Demat account, and UPI ID must all be mapped to the same PAN |
| Accept Mandate Promptly | Don’t delay mandate approval. Accept it as soon as you receive the request |
In oversubscribed IPOs, allotment is done via lottery system. SEBI mandates that each eligible applicant receives at least one lot if possible. Large bids don’t increase chances in the retail category – all applications are treated equally up to ₹2,00,000.
12. Troubleshooting Common Issues
UPI Mandate Not Received
If you haven’t received the mandate within 6 hours:
- Check the mandate section of your UPI app (not just notifications)
- Ensure your UPI app is updated to the latest version
- Verify the UPI ID you entered is correct
- If still not received, cancel your bid in Angel One app and place a new bid
Application Rejected
Common reasons for IPO application rejection:
| Reason | Solution |
|---|---|
| Wrong UPI ID or PIN | Double-check your UPI ID before submitting. Re-verify your UPI PIN |
| PAN Mismatch | Ensure Bank Account, Demat Account, and UPI ID are all linked to the same PAN |
| Multiple Applications | Apply only once per PAN across all platforms |
| Insufficient Funds | Maintain sufficient balance throughout the subscription period |
| Using Someone Else’s UPI | Use only your own UPI ID linked to your own bank account |
| Bid Below Cut-off | In book-built issues, ensure your bid price is at or above the final issue price |
Funds Not Unblocked
If shares are not allotted, your funds will be unblocked on or before the UPI mandate expiry date. Banks usually take 10-15 days to release funds. If funds are still blocked after 15 days, contact your bank directly.
13. Frequently Asked Questions
Useful Resources
This guide is for educational purposes only and should not be considered investment advice. IPO investments are subject to market risks. Always read the offer documents (RHP, DRHP) carefully before investing. Angel One is a platform to apply for IPOs and has no control over allotment. Past performance does not guarantee future results.