How to apply for an IPO online using UPI and ASBA?
Step-by-step tutorial on applying for Mainboard and SME IPOs through Zerodha, Groww, AngelOne, or net banking ASBA (HDFC, SBI, ICICI, Kotak). Learn how UPI mandate approval works.
What is ASBA (Application Supported by Blocked Amount)?
ASBA is a SEBI-mandated mechanism where your application money remains in your own bank account earning interest and is only blocked (lien marked). The money is debited exclusively if you are allotted shares; otherwise, the block is released.
Who is eligible to apply for an Indian IPO?
Any Indian resident or NRI with an active PAN card, a valid Demat account (with CDSL or NSDL), and a UPI-enabled or ASBA-supported bank account is eligible to apply in the retail or HNI category.
When should you approve the UPI mandate request?
After submitting your bid on your stockbroker app, you will receive a UPI mandate notification on your UPI app (GPay, PhonePe, Paytm, or BHIM). You must approve the mandate using your UPI PIN before 5:00 PM on the issue closing day for your application to be valid.
Why do IPO applications get rejected?
Common rejection reasons include: 1) Applying with a bank account whose PAN differs from the Demat account PAN (third-party payments are disallowed), 2) Failure to approve the UPI mandate before the cutoff time, or 3) Submitting multiple bids under the same PAN in the retail quota.
How do you maximize your IPO allotment probability?
To maximize allotment odds in oversubscribed issues, apply with 1 lot across multiple distinct family member accounts (each having their own unique PAN and Demat account), and always place your bid at the Cut-Off Price.