How to Apply for IPO in Zerodha: Step-by-Step Guide With UPI Mandate and ASBA

Got a Zerodha account? Then figuring out how to apply for an IPO in Zerodha is a five-minute job. You put in the bid on Kite, approve a UPI mandate in your payment app, and the money simply sits blocked in your bank until allotment. Below we walk through the Kite app, Kite web and the bank ASBA route, plus the timing rules and the usual mistakes that get applications rejected.

These steps follow Zerodha’s own IPO application support article. If you want the bigger picture on picking and judging issues, our pillar guide to IPO investing in India covers it.

How to apply for IPO in Zerodha: what you need first

• An active Zerodha trading and demat account. Zerodha says you can still apply if the account is flagged dormant, but you won’t be able to sell the shares until it’s reactivated.
• A UPI ID tied to a bank account in your own name. It doesn’t need to be the bank account registered with Zerodha, but it has to be yours. Zerodha says bids made with someone else’s UPI ID get rejected.
• A UPI app and bank that handle IPO mandates. NPCI maintains a list of the apps and banks that do.
• Enough money in the linked bank account to cover the bid.

Applying through UPI on Zerodha costs nothing, according to the broker.

Method 1: apply on the Kite app (step by step)

1. Open Kite and tap Bids.
2. Pick the IPO from the list of open issues and tap Apply.
3. Tap Apply once more and type in your UPI ID.
4. Enter or change the quantity and price.
5. Swipe the Submit button.
6. Go to your UPI app and accept the mandate.

Method 2: apply on Kite web

1. Log in to Kite.
2. Click Bids, then IPO.
3. Click Apply beside the issue.
4. Choose your investor type, say individual investor.
5. Type in your UPI ID.
6. Fill in the quantity and price. Quantity has to be a multiple of the lot size, and the price has to sit inside the issue’s price band.
7. Click Submit.
8. Accept the mandate in your UPI app. Zerodha’s article says you have until 5 PM on the IPO closing day to do this. Do check the page for your issue, though, since some set different cut-offs.

An IPO bid on Kite is only half done when you press Submit. The application only counts once you approve the UPI mandate in your payment app.

Understanding the UPI mandate

Once you submit, NPCI pushes a mandate request to your UPI app. Accepting it blocks the bid amount in your bank account. Nothing is debited at this stage.

• If you’re allotted shares, the blocked amount (or whatever part is needed for the shares you get) is debited.
• If you’re not, the money is unblocked.

According to Zerodha’s mandate help page, the request usually shows up within an hour. If it hasn’t, Zerodha suggests you check that:

• The UPI ID you entered is correct
• Your UPI app is updated to the latest version
• Your UPI app and bank both support IPO bids
• The request hasn’t quietly arrived without a notification

Still nothing? Delete the application and submit it again. Zerodha does mention that the mandate can occasionally take till the end of the day.

Timing rules to know

• Pre-apply window: Zerodha lets you apply a day before the IPO opens, and it says your allotment odds are the same no matter when in the window you apply.
• Mandate timing: as per Zerodha, orders placed between 10 AM and 4:45 PM get their mandates the same day, while orders after 4:45 PM get them the next day.
• Don’t wait for the last day. One slow mandate on closing day and your application can be gone.

Placing up to three bids

You can put in up to three bids in a single IPO application on Zerodha. Each one has to be inside the price range and in multiples of the lot size. What gets blocked is the highest of the three.

Here’s Zerodha’s own example, using a price band of ₹100-105:

In this case ₹15,150 gets blocked, since it’s the biggest of the three. Most retail investors don’t bother with multiple bids and just place one at the cut-off price. That means you agree to pay whatever final price is fixed within the band, so your bid can’t miss out for being priced too low.

Method 3: apply through your bank (ASBA)

ASBA (Application Supported by Blocked Amount) is the bank route. Your money gets blocked in exactly the same way.

Online ASBA

1. Log in to net banking and look for the IPO/ASBA section.
2. Fill in your demat details. For Zerodha, its article gives the depository as CDSL and the DP name as Zerodha. You’ll find your 16-digit demat ID on Zerodha Console.
3. Enter the bid quantity and price, then submit.

Offline ASBA

Download a blank ASBA form from the NSE or BSE website, fill it in and hand it over at your bank. The bank has to be a Self-Certified Syndicate Bank (SCSB).

Zerodha says company, partnership, LLP, AOP, trust and society accounts can only apply through ASBA. HUFs can go with either UPI or ASBA.

Common reasons IPO applications fail

• Using a family member’s UPI ID. The bank account behind the UPI ID has to be in the applicant’s own name.
• Several applications on the same PAN. Zerodha warns that applying to one IPO from different demat accounts with the same PAN will get you rejected.
• Missing the mandate deadline. If the mandate isn’t approved, there’s no valid bid.
• Wrong quantity. It has to be in multiples of the lot size.
• Not enough balance at the moment you approve the mandate.

Most failed IPO applications come down to admin errors, such as the wrong UPI ID, a duplicate PAN or a missed mandate, not market conditions.

After you apply: checking the status

1. Bid status on Kite: head to Bids, then IPO, to confirm your application and mandate are on record.
2. Allotment: once the issue closes, the registrar finalises allotment. You can see the outcome on the registrar’s website or on the exchanges. Our guide on IPO allotment status check online goes through the official ways to check.
3. Shares in demat: allotted shares land in your demat account before listing.
4. Refund or unblock: if you don’t get an allotment, your bank releases the money.

Before you apply: do the homework

Filling in the application is the easy bit. Picking the right IPO is where the real work is. Before you bid:

• Read the red herring prospectus (RHP), especially the objects of the issue, the financials and the risk factors.
• See how the valuation stacks up against listed peers.
• Take grey market premium (GMP) as a read on sentiment, not a promise. Our explainer on what GMP in an IPO is explains why.
• Decide up front whether you’re in it for listing gains or the long haul, and what you’ll do on listing day.

For what’s open right now, see our upcoming IPOs this week roundup.

Frequently asked questions

Can I apply for an IPO in Zerodha without UPI?

Yes. Use your bank’s ASBA facility, online or offline, and enter your Zerodha CDSL demat details. The bid then goes in through your bank rather than Kite.

How much money is blocked if I place three bids?

Just one amount: the highest of the three bids. In Zerodha’s example with a ₹100-105 price band, bids of ₹1,020, ₹15,150 and ₹5,250 mean ₹15,150 is blocked. If you’re allotted, only the amount for the shares you actually get is debited and the rest is released.

What if I don’t receive the mandate at all?

Zerodha suggests giving it about an hour, double-checking your UPI ID, updating the UPI app and making sure your bank supports IPO mandates. If needed, delete the application and submit it again.

Does applying early improve my chances?

No. Zerodha says the odds of allotment are the same whenever you apply within the window. Applying early just leaves you time to fix any mandate trouble.

Can I apply for a minor or an HUF?

Zerodha says minor account holders can apply through UPI or ASBA, and HUFs can use either route once the HUF bank account is linked to a UPI ID.

What if my money is still blocked after allotment?

Your bank handles the unblocking. If the money stays stuck well past the allotment date, call your bank first and keep your application details handy.

Quick checklist

• UPI ID linked to a bank account in your own name
• UPI app and bank that support IPO mandates
• Quantity in multiples of the lot size; price inside the band or at cut-off
• Mandate approved well ahead of the deadline
• Only one application per PAN
• Prospectus read and risks understood

Summary

To apply for an IPO in Zerodha, open Bids and then IPO on Kite, enter your UPI ID, quantity and price, hit submit, and approve the UPI mandate before the deadline. Your money stays blocked in the bank until allotment. You can also go through your bank’s ASBA facility using your Zerodha CDSL demat details. Timings do change, so it’s worth checking Zerodha’s support pages before each issue.

This guide is for education only and is not investment advice. Steps and timings are as described on Zerodha’s support pages as of October 2026.