Choose an IPO to Apply
Browse active issues on the IPOSETU dashboard. Check subscription status, financial fundamentals, and valuation before applying.
Open Your Broker App
Log into your trading app (Zerodha Kite, Groww, Upstox, AngelOne) and navigate directly to the 'IPO' or 'Bids' section.
Select Lots and Cut-Off Price
Enter the number of lots you want (1 lot for typical retail applications). Always check 'Cut-off Price' so your bid stays valid at whatever final issue price is determined.
Enter Your UPI ID
Enter the virtual payment address (VPA) linked to your primary bank account (e.g. mobile@okhdfcbank or username@oksbi). The PAN on your bank must match your Demat PAN.
Approve the Mandate on UPI App
Open Google Pay, PhonePe, or BHIM. You will receive an ASBA mandate notification. Review the amount and enter your UPI PIN. Your funds are blocked, not deducted.
Check Allotment Status
On allotment day, check status on the registrar's portal. If allotted, money is deducted and shares credit to your Demat. If not, the mandate expires and the block is revoked.
THINGS YOU NEED
- ✓ Active Demat Account
- ✓ Registered Trading Account
- ✓ UPI ID Linked to Bank (Same PAN)
- ✓ Minimum ~₹15,000 Balance
CRITICAL MISTAKES TO AVOID
- ✕ Third-party bank payment (causes rejection)
- ✕ Forgetting to approve UPI mandate by 5 PM
- ✕ Bidding below cut-off in oversubscribed issues
- ✕ Multiple applications with the same PAN
Why Bidding at 'Cut-Off Price' Is Crucial
In book-built IPOs, a price band (e.g. ₹475 – ₹500) is specified. When an issue is oversubscribed, the final discovered price is almost always the upper cap (₹500). If you place a bid at ₹480 or ₹490, your bid is automatically rejected as invalid. Checking the 'Cut-off Price' box ensures that your bid automatically tracks whatever price the company finalizes.