What is the IPO application timing in Zerodha?

IPO applications can be placed from 10:00 AM on the opening day until 4:30 PM on the closing day. The IPO window for HNI clients closes at 4:00 PM on the last day of bidding. You must accept the UPI mandate before 5:00 PM on the closing day.

How to check IPO allotment status in Zerodha?

Zerodha does not display IPO allotment status directly. You can check your allotment status on the NSE website, BSE website, or the IPO Registrar's website (like KFintech, Link Intime, Bigshare) using your PAN or application number.

Can I cancel or modify my IPO application in Zerodha?

Retail investors can modify or cancel their IPO applications between 10:00 AM and 4:30 PM on trading days while the IPO is open. You can modify up to 3 times. However, HNI/NII category investors cannot cancel their applications once submitted.

What is the maximum IPO application amount for retail investors?

Retail Individual Investors (RII) can apply for IPOs up to Rs. 2,00,000 (2 lakhs) per application. Applications above this amount fall under the Non-Institutional Investor (NII/HNI) category.

How to apply for IPO through Zerodha • webnotes.in

This comprehensive guide covers everything you need to know about applying for an Initial Public Offering (IPO) through Zerodha. Whether you’re a first-time investor or an experienced trader, this step-by-step walkthrough will help you navigate the IPO application process using UPI or ASBA methods. Zerodha offers free IPO applications with no brokerage charges.

IPO Application Fee

₹0 (Free)

Application Window

10 AM – 4:30 PM

UPI Mandate Deadline

5:00 PM

Max Modifications

3 Times

Table of Contents

1. Prerequisites for Applying
2. Apply Using UPI (Recommended)
3. Apply via Kite Mobile App
4. Apply via Kite Web
5. Pre-Apply for IPO
6. ASBA Method (Net Banking)
7. How Multiple Bids Work
8. Modify or Cancel Application
9. Check Allotment Status
10. Common Rejection Reasons
11. Important Timings
12. Investor Categories
13. Zerodha Demat Details
14. Frequently Asked Questions

1. Prerequisites for Applying

Before you can apply for an IPO through Zerodha, ensure you have the following:

Active Zerodha Trading & Demat Account

You need an active Zerodha account with completed KYC verification. Even dormant accounts can apply for IPOs, but you won’t be able to sell shares until you reactivate your account.

UPI ID Linked to Your Bank Account

Your UPI ID must be mapped to your own bank account. The bank account doesn’t need to be linked with Zerodha, but it must belong to you. Using someone else’s UPI ID will result in rejection.

Sufficient Bank Balance

Maintain enough funds in your bank account to cover your IPO bid amount. The funds get blocked (not debited) until allotment, and you continue to earn interest on blocked funds.

Supported UPI App

Use any NPCI-licensed UPI app such as Google Pay, PhonePe, Paytm, BHIM, or your bank’s UPI app. The UPI app must support IPO mandates.

Important

Your application will be rejected if you apply for the same IPO multiple times using different demat accounts with the same PAN card. One PAN = One application per IPO (in each investor category).

2. Apply Using UPI (Recommended)

The UPI method is the most convenient way to apply for IPOs through Zerodha. It’s completely free, and you can use any supported UPI app. Here’s how the UPI-based IPO application works:

How UPI IPO Works

→ Submit application via Zerodha Kite

→ Receive mandate request on UPI app

→ Accept mandate to block funds

→ Funds remain in your account (earning interest)

→ If allotted: Amount debited, shares credited

→ If not allotted: Amount unblocked automatically

UPI Requirements

✓ UPI ID must be in your name only

✓ Bank account owner must match applicant

✓ Accept mandate before 5 PM on closing day

✗ Cannot use family member’s UPI ID

✗ Cannot apply for more than ₹5 lakhs via UPI

✗ Cannot use funds from trading account

Mandate Timing

Orders placed between 10 AM and 4:30 PM receive mandates the same day. Orders placed after 4:30 PM receive mandates the following day. Accept your UPI mandate before 5 PM on the IPO closing day.

3. Apply via Kite Mobile App

Follow these step-by-step instructions to apply for an IPO using the Zerodha Kite mobile app:

Open Kite App and Go to Bids

Launch the Zerodha Kite app on your mobile device and tap on Bids from the bottom navigation menu.

Select IPO

Tap on IPO to view the list of ongoing IPOs. Select the IPO you want to apply for from the list.

Tap on Apply

Tap on the Apply button for your chosen IPO. If it shows “Pre-apply”, the IPO hasn’t opened yet.

Select Investor Type

Choose your investor category: Individual (Retail) or Employee (if eligible for employee quota).

Enter UPI ID

Enter your UPI ID (e.g., yourname@upi or mobilenumber@bank). Ensure this UPI ID is mapped to your own bank account.

Enter Quantity and Price

Enter the number of shares (must be a multiple of lot size) and bid price (within the price band). Select Cut-off price if you want to bid at any price within the band.

Accept Undertaking and Submit

Tick the checkbox to confirm you’ve read the mandatory documents. Swipe the Submit button to place your bid.

Accept UPI Mandate

Open your UPI app (Google Pay, PhonePe, etc.) and accept the mandate request. This will block the bid amount in your bank account.

Application Submitted

Once you accept the mandate, your IPO application is complete. You’ll receive an SMS/email confirmation from the exchange at the end of the day.

4. Apply via Kite Web

If you prefer using a computer, follow these steps to apply for an IPO through the Kite web platform:

Visit kite.zerodha.com and log in with your Zerodha credentials.

Navigate to IPO Section

Click on Bids in the left sidebar, then click on IPO to see available IPOs.

Click Apply

Find your desired IPO and click the Apply button.

Select Investor Type

Choose between Individual, Employee, or Shareholder category (if applicable).

Enter UPI ID

Type your UPI ID carefully. Double-check for typos as incorrect UPI IDs cannot be corrected for HNI applications.

Enter Bid Details

Enter quantity (must be a multiple of lot size) and price (within issue price range). You can place up to 3 different bids.

Submit Application

Review your details and click Submit to place your bid.

Accept Mandate on UPI App

Check your UPI app for the mandate request and accept it to complete your application.

5. Pre-Apply for IPO

Zerodha allows you to pre-apply for an IPO one day before the subscription window opens. Your pre-application is automatically sent to the exchange when the IPO opens.

Pre-Apply Benefits

Pre-applying ensures you don’t miss popular IPOs due to high traffic on opening day. Your allotment chances remain the same regardless of when you apply.

How to Pre-Apply

Check for Pre-Apply Option

Go to Bids → IPO in Kite. IPOs showing “Pre-apply” button are available for early application.

Submit Pre-Application

Enter your UPI ID, quantity, and price. Submit the pre-application just like a regular application.

Wait for Mandate

You’ll receive the UPI mandate after 10 AM on the IPO start date. Accept the mandate to complete your application.

Pre-Apply Availability

Availability	Details
Start Time	One day before IPO opens
End Time	10:00 AM on IPO opening day
Mandate Received	After 10:00 AM on opening day
SME IPOs	Pre-apply is NOT available for SME IPOs

6. ASBA Method (Net Banking)

ASBA (Application Supported by Blocked Amount) allows you to apply for IPOs directly through your bank’s net banking portal. This method is useful if you face issues with UPI or prefer using net banking.

Online ASBA Application

Access your bank’s internet banking portal. Your bank must be a Self-Certified Syndicate Bank (SCSB) to offer ASBA.

Navigate to IPO/ASBA Section

Find the IPO or ASBA section in your net banking menu. Different banks have different navigation paths.

Enter Demat Account Details

Enter your Zerodha demat account information (see Zerodha Demat Details section below).

Complete Bid Details

Enter quantity, price, and other required details. Submit the application.

Offline ASBA Application

You can also submit a physical ASBA form:

Download ASBA Form

Download the blank ASBA form from NSE or BSE website for the specific IPO.

Fill Required Details

Complete the form with your personal details, demat account information, bid quantity, and price.

Submit to Your Bank

Visit your bank branch (must be an SCSB) and submit the completed form.

NSE ASBA Forms BSE ASBA Forms List of SCSB Banks

7. How Multiple Bids Work

You can place up to 3 bids in a single IPO application. Each bid can have a different quantity and price within the price band. The amount blocked will be the highest among your three bids.

Example: Multiple Bid Scenario

Consider an IPO with price band ₹100 – ₹105:

Bid	Shares	Price	Amount
Bid 1	10	₹102	₹1,020
Bid 2	150	₹101	₹15,150
Bid 3	50	Cut-off (₹105)	₹5,250

Amount Blocked: ₹15,150 (highest among all bids)

Which Bid Gets Allotment?

If Issue Price is	Eligible Bid	Reason
₹103 or higher	Bid 3 only	Only cut-off bid qualifies
₹102	Bid 3	Larger quantity between qualifying bids
₹100 or ₹101	Bid 2	Largest quantity among all qualifying bids

Pro Tip

For retail investors, applying at the cut-off price with maximum lot size gives you the best chance of allotment. You’ll be considered at whatever price the issue gets fixed.

8. Modify or Cancel Application

You can modify or cancel your IPO application while the subscription window is open. However, there are specific timing restrictions and rules to follow.

Modify Application

✓ Available between 10:00 AM – 4:30 PM

✓ Change quantity, price, or bid details

✓ Maximum 3 modifications allowed

✓ New mandate sent for increased amounts

✗ Cannot modify pending applications

Cancel Application

✓ Available between 10:00 AM – 4:30 PM

✓ Funds get unblocked after cancellation

✓ No cancellation charges

✗ Do NOT accept mandate for cancelled bid

✗ HNIs/NIIs cannot cancel applications

Steps to Modify on Kite App

Go to Applied IPOs

Open Kite → Bids → IPO → Applied

Select IPO and Tap Modify

Choose the IPO you want to modify and tap the Modify button.

Update Details

Change quantity, price, or other bid details as needed.

Accept New Mandate (if applicable)

If your new bid amount is higher, you’ll receive a new mandate. Accept it to complete the modification.

Steps to Cancel on Kite App

Go to Applied IPOs

Open Kite → Bids → IPO → Applied

Select IPO and Tap Cancel

Choose the IPO and tap the CANCEL button.

Confirm Cancellation

Confirm the cancellation. Your blocked amount will be released by your bank.

Important Warning

If you cancel your IPO application, make sure you DO NOT accept the mandate for the cancelled bid. Accepting a mandate for a cancelled bid may cause technical issues.

9. Check Allotment Status

Zerodha does not provide IPO allotment status directly on its platform. You can check your allotment status through NSE, BSE, or the Registrar and Transfer Agent (RTA) websites.

Check on NSE

Visit NSE IPO Status Page

Go to the NSE website’s IPO bid status page.

Select IPO Symbol

Choose the IPO from the dropdown menu.

Enter Application Number

Enter your IPO application number (find this in Zerodha Console under Portfolio → IPO → Historical Bids).

Click Get Data

Your bid status and allotment details will be displayed.

Check on BSE

Visit BSE Application Status Page

Go to the BSE website’s application check page.

Enter Application Number or PAN

You can search using either your application number or PAN card number.

Click Search

View your application and allotment status.

Registrar (RTA) Websites

You can also check allotment status on the IPO’s registrar website using your PAN:

KFintech MUFG Intime Bigshare

Finding Application Number in Zerodha

Log in to Zerodha Console → Portfolio tab → IPO → Look under Historical Bids section to find your IPO application number.

10. Common Rejection Reasons

IPO applications can get rejected for various reasons. Understanding these can help you avoid common mistakes:

Rejection Reason	How to Avoid
Mandate not accepted	Always accept the UPI mandate before 5 PM on closing day
Multiple applications with same PAN	Apply only once per IPO per investor category using each PAN
Incorrect/Invalid UPI ID	Double-check your UPI ID before submitting (especially HNI category)
UPI ID belongs to someone else	Use only your own UPI ID linked to your own bank account
Insufficient funds in bank account	Maintain enough balance to cover your highest bid amount
Bid price outside price band	Enter price within the specified issue price range
Quantity not a multiple of lot size	Apply in multiples of the lot size only
PAN mismatch with demat/bank account	Ensure PAN is same across your demat and bank accounts
Name mismatch (Applicant vs Bank vs Demat)	Name should match across all documents and accounts
Technical issues at bank/exchange	Apply early; don’t wait for the last day
KYC not verified	Complete KYC verification before applying
Mandate rejected by bank	Check with your bank if mandate keeps failing

HNI Applications Cannot Be Cancelled

If you’re applying under the HNI (Non-Institutional Investor) category, you cannot cancel your application after submission. This means if you enter a wrong UPI ID, the application cannot be corrected. Be extra careful with HNI applications.

11. Important Timings

Understanding the IPO application timelines is crucial for a successful application:

Pre-Apply Window Opens

1 day before IPO opens

Submit pre-application one day before the IPO subscription starts.

Pre-Apply Window Closes

10:00 AM on Issue Open Date

Pre-apply option closes; regular apply becomes available.

IPO Application Window

10:00 AM – 4:30 PM (Trading Days)

Regular IPO applications can be placed during market hours.

HNI Application Deadline

4:00 PM on Last Day

HNI category applications close 30 minutes earlier on the last day.

UPI Mandate Deadline

5:00 PM on Issue Close Date

Accept your UPI mandate before this deadline.

Allotment Announcement

T+3 to T+4 Days

IPO allotment typically happens 3-4 days after issue closes.

Shares Credited / Refund

T+4 to T+5 Days

Allotted shares credited to demat; unblocked amount released for non-allottees.

Listing Day

T+6 Days (typically)

Shares start trading on the stock exchange.

Mandate Timing

Applications submitted between 10:00 AM and 4:30 PM receive mandates the same day. Applications submitted after 4:30 PM receive mandates the next trading day. It can take anywhere from a few minutes to several hours to receive the mandate.

12. Investor Categories

IPOs are divided into different investor categories. Understanding which category you fall into helps maximize your allotment chances:

Category	Application Limit	Method via Zerodha	Can Cancel?
Retail Individual Investor (RII)	Up to ₹2,00,000	UPI / ASBA	Yes
Non-Institutional Investor (NII/HNI)	Above ₹2,00,000	ASBA only	No
Qualified Institutional Buyer (QIB)	No limit (Institutions)	Not applicable	No
Employee Quota	As per company offer	UPI / ASBA	Yes
Shareholder Quota	As per company offer	UPI / ASBA	Yes

Who Can Apply Through Zerodha?

Investor Type	UPI Method	ASBA Method
Resident Individuals	✓ Yes	✓ Yes
NRIs	✓ Yes (with NRE/NRO UPI)	✓ Yes
HUFs	✓ Yes	✓ Yes
Minors	✓ Yes	✓ Yes
Companies / LLPs / Partnerships	✗ No	✓ Yes (via bank)
Trusts / Societies / AOP	✗ No	✓ Yes (via bank)

13. Zerodha Demat Details

When applying for IPOs through ASBA (net banking), you’ll need to enter your Zerodha demat account details:

Depository CDSL

DP Name Zerodha Broking Limited

DP ID 12081600 (First 8 digits of your Demat ID)

Client ID Last 8 digits of your 16-digit Demat ID

Where to Find Your Demat ID

Your 16-digit Demat ID can be found at: console.zerodha.com/account/demat

View Your Demat Details Upcoming IPOs on Zerodha

14. Frequently Asked Questions

Is there any charge for applying to IPO through Zerodha? +

No, Zerodha does not charge any brokerage or commission for IPO applications. However, when you sell the allotted shares, standard DP (Demat Debit) charges apply.

Can I apply for IPO using my trading account funds? +

No, funds in your Zerodha trading account cannot be used for IPO applications. As per SEBI regulations, only bank funds through UPI or ASBA methods are allowed for IPO applications.

What happens if I don’t get allotment? +

If you don’t receive any share allotment, the blocked amount in your bank account gets automatically unblocked. You continue to earn interest on the blocked amount throughout the process as the money never leaves your account.

Can I apply for the same IPO from multiple demat accounts? +

No. Applying for the same IPO multiple times using different demat accounts but the same PAN will result in all applications being rejected. One PAN = One application per IPO per investor category.

Does applying early improve my chances of allotment? +

No. Your chances of allotment remain the same regardless of when you apply during the subscription period. Whether you apply on the first day or last day, your application is treated equally in the allotment process.

Can I apply for SME IPOs through Zerodha? +

Yes, Zerodha supports SME IPO applications. However, pre-apply is not available for SME IPOs. Also note that the minimum application size for SME IPOs is typically 2 lots.

I didn’t receive the UPI mandate. What should I do? +

Mandate delivery depends on your bank and can take anywhere from a few minutes to several hours. Check your UPI app notifications, spam/other folders in the app. If still not received, try applying again with a different UPI ID. Sometimes specific banks may have technical issues during high-demand IPOs.

Can I use family member’s bank account/UPI ID? +

No. The UPI ID and bank account must belong to the person applying for the IPO. Using someone else’s UPI ID or bank account will result in your application being rejected by the Registrar.

How long does it take for allotted shares to appear in my demat? +

Typically, shares are credited to your demat account 1-2 business days before the listing date. You’ll receive an SMS/email notification from CDSL once shares are credited. They should then appear in your Kite holdings.

What is cut-off price and should I use it? +

Cut-off price means you’re willing to pay any price within the issue price band. For retail investors, applying at cut-off price is generally recommended as it ensures your bid is valid at whatever price the issue gets fixed. The amount blocked will be at the upper band price.

Disclaimer

This guide is for educational purposes only and should not be considered as investment advice. IPO investments carry market risks. Please read all related documents carefully and consult a financial advisor before making investment decisions. Information is based on Zerodha’s official documentation and may be subject to change.

Crafted with care by WebNotes.in