Zerodha provides online IPO applications. Zerodha customers can apply in IPO using UPI (Unified Payment Interface) via its back-office Zerodha Console. Whereas the method isn’t as simple as the ASBA IPO application via the 3-in-1 account, the Zerodha UPI IPO application provides a choice to Zerodha customers to apply in IPO online.
Zerodha launched Online IPO application services on Aug 6, 2019. Since then it turns into the biggest dealer by the variety of IPO applications being applied.
Zerodha IPO Apply
Making use of an IPO via Zerodha is straightforward and handy. It is a three-step process:
- Create UPI ID on BHIM UPI app (One Time)
- Apply on Console using your UPI ID
- Verify mandate notification on BHIM UPI app and approve with UPI PIN
Zerodha IPO Steps
Zerodha IPO application process (step-by-step information) is described as below:
1. UPI ID Creation (One Time)
Zerodha provides IPO applications via UPI.
Zerodha customer first has to create a UPI ID, if they do not have one. UPI ID could be created utilizing BHIM UPI App(Phonepe or Google pay) or using the online mobile banking app of any financial institution together with ICICI, HDFC where you maintain your account.
2. Apply in IPO using Zerodha Console
- Login to Zerodha Kite and go to Console (Zerodha Back-office)
- Go to Portfolio > IPOs
- Choose the IPO from the listing and click on Apply
- Enter your UPI ID, amount, and value
- Submit the application
3. Accept the UPI Mandate
- After a number of hours (usually end of the day), you’ll obtain a mandate request in your UPI app (both BHIM or your internet banking App)
- Approve the standing instruction (mandate).
Apply Zerodha IPO without UPI
You can apply for an IPO without UPI. You can apply using the ASBA internet banking companies offered by your organization and provides your Zerodha Demat account quantity in order that the allotted IPO shares are credited to your account.
Zerodha IPO Prices
Zerodha IPO application service is free. Zerodha does not cost any charges from its customers for making use of it in an IPO.
Zerodha IPO Allotment Status
Zerodha IPO status check could be carried out from the IPO registrar’s web site. Registrar of the IPO (i.e. Karvy, Link Intime) is responsible for IPO share allotment. They publish the allotment status on their web site as soon as the allotment is completed.
You can even test the Zerodha IPO Allotment Status by checking your account balance.
Whereas IPO allotment standing isn’t accessible on the Zerodha web site, you get an alert from CDSL when IPO allotted shares are credited in your Demat account.