Time needed: 15 minutes.
This is a step-by-step guide to directly apply for any active IPOs directly through Zerodha Console, using the Zerodha Console (UPI, BHIM method).
Log on to the Zerodha Console link:
If prompted, log in with your “User ID”, “Password”(in the first screen), and enter your PIN (in the second screen) to complete the login process.
In the list under “Active IPO Window”, from the list of active IPOs, choose the row that contains the IPO you wish to apply for, and click the “Place Bid” option.
On the left, you will see the details of the IPO offer including the following:
– Date of IPO Open
– Date of IPO Close
– Issue Size
– Issue Price Band
– Application Lot Size (Market Lot)
– Tick size
– Minimum Order Quantity
– Discount (if any)
– Also, there should be a hyperlink to the “Red Herring Prospectus” for reference.
To the right, enter your UPI ID.
A few things to note in this case:
Make sure that your UPI app is in the list of approved apps.
A ready reference of the approved apps is available at the NPCI website[link]. Click on the tab “UPI Apps & Banks live on IPO“, and refer to the “UPI Apps live on IPO” list (not the other tables).
The list of approved apps may continually change.
So, it’s a good decision to refer to this list every time you apply for IPO, so that your information is up-to-date.
Next enter the quantity (making sure that the amount is a pure multiple of the lot size), and the price you wish to bid at.
It is always a good time to choose the cut-off price (selecting the check-box option at “Cut-off price” option.
Click the “Read Disclaimer” checkbox to confirm that you have read the legalese on the IPO application.
Finally click “Submit”.
The final step is to accept the mandate in your respective UPI app.