An applicant can submit an IPO application through Zerodha from Kite web or Kite app.
How to invest in IPO using Zerodha Kite Web and Kite App
How to apply for IPO using Kite Web
Step 1: Log into ‘kite.zerodha.com’
Step 2: Click on Bids
Step 3: Click ‘IPO’
Step 4: Click ‘Apply’
Step 5: Select investor type
Step 6: Enter UPI ID
Step 7: Enter Quantity of shares and Price
Step 8: Click on the undertaking checkbox
Step 9: Click ‘Submit’.
How to apply for IPO in Zerodha Kite App
Step 1: Login to Zerodha Kite App
Step 2: Go to Zerodha console.
Step 3: Under ‘Portfolio’ tab, click ‘IPO’ option
Step 4: Select IPO and ‘Apply’ button.
Step 5: Enter UPI ID, quantity (in multiple of the lot size), and price.
Step 6: To apply at the cut-off price, tick the checkbox
Step 7: Press ‘Submit’ button
Step 8: You will receive IPO mandate on the UPI App provided
Step 9: Accept the mandate request
Step 10: IPO application with Zerodha is placed
Step 11: Till allotment, this amount will be blocked in your bank account.
How to Apply for an IPO using Available Funds in the Kite Zerodha App?
No, you cannot use the funds in the Zerodha Trading Account to apply for an IPO. Zerodha uses UPI as a payment option for online IPO applications. The UPI serves as a unique ID for your bank account. When applying for an IPO with a UPI ID, the funds are locked in your bank account.
What are IPO Charges in Zerodha?
There are no charges to apply for an IPO through Zerodha.
How to Check Allotment of IPO in Zerodha?
Zerodha does not offer IPO application status on its website. To check the allotment status, visit the website of the IPO registrar (such as Karvy or Link Intime). You will need to enter your PAN number to check the status.
How to do IPO Allotment Status Check Online?
The IPO allotment status provides details about the number of shares allocated to an investor in an Initial Public Offering (IPO). This process is managed by the IPO registrar. The IPO allotment date is when the allotment status is made public on the registrar’s website.
The calculation of IPO allotment is disclosed by the registrar in the Basis of Allotment document. Investors can check the IPO allotment by visiting the registrar’s website once the allotment is finalized.
Furthermore, IPO investors receive notifications about the new allotment status from BSE, NSE, CDSL, and NSDL through email and SMS.
Also read: Upcoming IPOs in February 2024 List: Public issues to hit market next week
How IPO Works in Zerodha
After a bid is placed, it is submitted to the exchange. The exchange then forwards the bid to the bank via the National Payments Corporation of India (NPCI) to obtain the mandate request on the UPI app. The application flow operates as follows: once the UPI mandate is approved, the IPO application is considered complete.
Timing to Apply for IPO in Zerodha
IPO orders can be placed from 10:00 AM on the opening day until 4:30 PM on the closing day.
FAQs:
Q1. Can You Apply for IPO on Sunday in Zerodha?
Ans: While you have the flexibility to complete the IPO application form at any time, exchanges only process applications between 10 a.m. and 5 p.m. on weekdays, excluding holidays. Outside of these exchange hours or on weekends, applications are retained by the broker/bank and forwarded to the exchange at 10 a.m. on the next business day.
Q2. Can NRI Apply for IPO in Zerodha?
Ans: Yes, by law, NRIs can invest in Indian IPOs of Equity Shares, NCDs, and Bonds. NRI IPO and Mutual Fund investments are permitted through the Non-PIS Account only (NRE or NRO Savings Bank Account without PIS permission). It is at the discretion of the issuer company to allow NRIs to invest in an IPO.
Q3. What are eligibility criteria and process for NRI investors?
Ans: NRIs can participate in an IPO using the same process as Indian resident individuals. If your bank supports an NRE/NRO account, you can apply for an IPO through Upstox using your UPI app. Here are the steps on how to apply for an IPO.
Does Zerodha offer pre-IPO shares?
Ans: Zerodha initially refrained from offering pre-IPO orders due to concerns about regulatory clarity. While the regulations do not explicitly define pre-IPO applications, there is a general understanding among regulators and exchanges that brokers are permitted to collect pre-IPO orders.
