How to Apply for IPO in India 2026 — Complete Guide

Applying for an IPO in India has never been easier. Whether you're a first-time investor or a seasoned trader, this guide walks you through every method — UPI mandate, ASBA via net banking, and broker apps. The entire process is free and takes under 5 minutes.

Method 1: Apply via UPI Mandate (Easiest & Most Popular)

This is the most common method used by retail investors in 2026. You apply through your broker's app and approve the payment via any UPI app.

1
Open your broker app — Zerodha Kite, Groww, Upstox, Angel One, or any SEBI-registered broker. Navigate to the IPO section.
2
Select the IPO — Choose the IPO you want to apply for from the list of currently open IPOs. Check the price band and lot size.
3
Enter bid details — Select the number of lots, choose the cut-off price option, and enter your UPI ID (e.g., yourname@upi).
4
Submit application — Review your bid details and submit. Your broker will send a mandate request to your UPI app.
5
Approve UPI mandate — Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the mandate request. Funds will be blocked (not debited) in your bank account.
6
Wait for allotment — After the IPO closes, allotment is typically finalized within 2-3 days. If allotted, shares are credited to your demat. If not, the blocked amount is released.

Method 2: Apply via ASBA (Net Banking)

ASBA (Application Supported by Blocked Amount) is available through your bank's net banking portal. Your funds are blocked in your bank account until allotment — no money leaves your account.

1
Log in to net banking — Go to your bank's website (SBI, HDFC, ICICI, etc.) and log in to your net banking account.
2
Find IPO section — Navigate to Investments > IPO or ASBA section. The exact path varies by bank.
3
Select IPO and enter details — Choose the IPO, enter quantity (lots), price, PAN, and demat account number.
4
Submit and confirm — Review and submit your application. The application amount will be blocked in your savings account.

Documents Required for IPO Application

  • PAN Card — mandatory for all IPO applications
  • Demat Account — with any SEBI-registered depository participant
  • Bank Account — linked to your demat for ASBA/UPI
  • UPI ID — for UPI mandate method (linked to your bank account)

IPO Application Tips for Beginners

  • Always apply at the cut-off price to maximize allotment chances
  • Apply on Day 1 or Day 2 — don't wait for the last day to avoid technical issues
  • Approve UPI mandate within 12 hours — delayed approval may cancel your application
  • Check GMP (Grey Market Premium) before applying for an indication of listing sentiment
  • Apply from one PAN only — multiple applications with same PAN get rejected
  • For better allotment chances, apply in multiple family members' names (each with their own PAN and demat)

Frequently Asked Questions

Is IPO application free?

Yes, all major brokers (Zerodha, Groww, Upstox, Angel One) offer free IPO application. No brokerage or charges apply.

How much money do I need to apply for an IPO?

It depends on the IPO's lot size and price band. For mainboard IPOs, minimum investment is typically ₹14,000-15,000. For SME IPOs, it's ₹1,00,000+.

Can I cancel my IPO application?

Yes, you can modify or cancel your IPO application before the IPO closing date. After closing, the application cannot be cancelled.

What happens if I don't get allotment?

If you don't get allotment, the blocked amount in your bank account is released within 1-2 days after allotment finalization. No charges apply.

Can NRIs apply for IPOs in India?

Yes, NRIs can apply for IPOs through their NRE/NRO bank accounts. Not all brokers support NRI IPO applications — check with your broker.

How to check IPO allotment status?

You can check allotment status on the registrar's website (KFintech, Link Intime, Bigshare) using your PAN number, application number, or demat account number.

What is cut-off price in IPO?

Cut-off price means you're willing to pay whatever price the company finalizes (within the price band). Applying at cut-off price gives you the highest chance of allotment.

Can I apply for the same IPO from two brokers?

No. IPO applications are linked to your PAN card. If you apply from multiple brokers using the same PAN, all applications will be rejected.