Zerodha IPO Application: Complete Guide to Applying, Tracking & Checking Allotment
By IPO Plus
Learn how to complete a Zerodha IPO application step by step, from UPI mandate approval to checking allotment status and grey market premium via IPO Plus.
Zerodha IPO Application: Complete Guide to Applying, Tracking & Checking Allotment
Key Takeaways
- A Zerodha IPO application is submitted through Zerodha Console using the UPI-based ASBA process, requiring only a PAN, linked bank account, and active UPI ID.
- Zerodha does not charge any brokerage or fee for IPO applications; only the bid amount is blocked via UPI mandate until allotment is finalized.
- Most Zerodha IPO application failures stem from insufficient funds, delayed UPI mandate approval, or last-minute server congestion near the closing deadline.
- IPO allotment is typically finalized on T+3 working day after the issue closes, and can be checked via the registrar's website, exchange portals, or Zerodha Console.
- Only one application per PAN per category is allowed on Zerodha, but each family member with a separate PAN and demat account can apply independently for the same IPO.
How to Apply for an IPO Using Zerodha?
What Documents Do You Need for Zerodha IPO Application?
A Zerodha IPO application is submitted through Zerodha Console, Zerodha's back-office portal, using the UPI-based ASBA (Applications Supported by Blocked Amount) process mandated by SEBI. Investors do not need a separate application form or physical visit to a bank; the entire Zerodha IPO application is completed online in a few minutes once the IPO opens for subscription.
A Zerodha IPO application requires an active Zerodha trading and demat account, a linked bank account with net banking or a UPI ID, and a valid PAN card. No additional demat account is needed since Zerodha automatically credits allotted shares to the demat account linked to the trading account. Investors should also keep sufficient funds in their bank account, since the ASBA process blocks the application amount rather than debiting it immediately.
How to Apply for an IPO via Zerodha Console (Step-by-Step)
Applying for an IPO via Zerodha Console follows a fixed sequence: log in to console.zerodha.com, navigate to the 'Portfolio' menu and click on 'IPO', select the open IPO from the list, choose the applicant's category (Retail Individual Investor, HNI, or Employee/Shareholder quota if applicable), enter the number of lots and bid price (or select 'Cut-off price'), enter a valid UPI ID, and click 'Submit'. After submission, investors must approve the mandate request that appears in their UPI app within the stipulated time, usually before the IPO closing date.
The UPI mandate process in a Zerodha IPO application is the step where the bid amount gets blocked, not debited, in the investor's bank account. After submitting the Zerodha IPO application, a payment request appears in the UPI app (such as Google Pay, PhonePe, or BHIM) linked to the entered UPI ID. The investor must approve this mandate request, after which the bank blocks the exact bid amount until the allotment is finalized. If shares are allotted, the blocked amount is debited; if not allotted, the block is released automatically, usually within a day or two of the allotment finalization.
What is the UPI Mandate Process in Zerodha IPO Application?
Why Choose Zerodha for IPO Applications?
Zerodha IPO Application Charges and Fees
Zerodha is a popular choice for IPO applications because it offers a zero-brokerage, self-service digital process through Zerodha Console that lets investors track live subscription data alongside their applications. Its large existing user base, simple interface, and integration with UPI mandates make the Zerodha IPO application process fast and largely error-free compared to manual or bank-based ASBA methods.
Zerodha does not charge any brokerage or platform fee for submitting an IPO application. The only amount involved is the bid value itself, which gets blocked in the investor's bank account through the UPI mandate and is debited only upon allotment. There are no hidden charges, service fees, or subscription costs tied to placing a Zerodha IPO application.
Is Zerodha Free for IPO Applications?
Yes, Zerodha is free for IPO applications. Since IPO investing does not involve any secondary-market trade, Zerodha's usual brokerage structure does not apply, and the broker does not levy any charge for submitting, modifying, or withdrawing an IPO application through Console.
Zerodha compares favorably to many full-service and discount brokers because its Console interface is built specifically for high-volume, fast-moving IPO windows, reducing form-filling errors and mandate approval delays. Traditional brokers using ASBA through net banking often involve more steps and slower confirmation, while some discount broker apps have had recurring technical glitches during high-subscription IPOs. Zerodha's combination of a stable app, wide UPI app compatibility, and no additional fees makes it one of the more reliable options, though investors should always cross-check server load and last-date deadlines regardless of the broker used.
How Zerodha Compares to Other Brokers for IPO Applications
Common Issues While Applying for IPO on Zerodha
Why is My Zerodha IPO Application Not Going Through?
A Zerodha IPO application typically fails to go through due to insufficient funds in the linked bank account, an incorrect or inactive UPI ID, exchange server congestion near the closing time, or a mismatch between the PAN linked to the trading account and the bank account. Investors should confirm their UPI ID is active and linked to the same bank account used for the application, and avoid applying in the final hour of the closing day when exchange servers experience the heaviest traffic.
What to Do If UPI Mandate Fails on Zerodha?
If a UPI mandate fails on Zerodha, the investor should first check whether the mandate request actually appeared in their UPI app's 'pending requests' section, since delayed notifications are common during high-demand IPOs. If no request appears within 15-20 minutes, the investor should retry the IPO application on Zerodha Console with the same or an alternate UPI ID, ensuring the UPI app itself is updated and the bank server is not undergoing maintenance. Investors can also check the mandate status directly under the 'IPO' section in Console, which shows whether the request is pending, approved, or expired.
How to Modify or Cancel an IPO Application on Zerodha?
An IPO application on Zerodha can be modified or cancelled only before the mandate is approved and while the IPO subscription window remains open. To modify bid quantity or price, investors should go to the 'IPO' section in Console, select the applied IPO, and edit the existing application before resubmitting; to cancel, they can withdraw the application from the same screen, which also cancels any pending UPI mandate request. Once the mandate is approved and funds are blocked, changes typically require withdrawing the application entirely and submitting a fresh one before the closing date.
How to Check IPO Allotment Status After Applying via Zerodha?
When is IPO Allotment Announced After Zerodha Application?
IPO allotment status can be checked a few days after the subscription period closes, since the allotment is finalized by the registrar, not by Zerodha itself. Under SEBI's shortened listing timeline, most mainboard IPOs finalize allotment on T+3 working day after the issue closes, followed by refunds and demat credit, with listing typically occurring on the next trading day. Investors can check their allotment status directly on the registrar's website (such as Link Intime or KFin Technologies), on the BSE/NSE allotment status page, or through the 'IPO' section in Zerodha Console once the registrar updates the data.
How to Check Grey Market Premium Before Applying via Zerodha?
Grey market premium, or GMP, is the unofficial premium at which IPO shares are traded in the grey market before listing, and it is commonly used as an early indicator of listing-day demand. Investors applying via Zerodha can track real-time GMP figures, live subscription numbers, and broker reviews on platforms like IPO Plus before finalizing their bid, since GMP trends often shift daily based on subscription momentum and market sentiment. It is important to treat GMP as a directional signal rather than a guaranteed listing price, since it is an unregulated, informal market rate.
Tips for a Successful IPO Application on Zerodha
Should You Apply Early or Late for an IPO on Zerodha?
Applying early for an IPO on Zerodha reduces the risk of technical failures and server congestion, though subscription numbers and grey market premium trends often become clearer only closer to the closing date. A balanced approach is to submit the Zerodha IPO application on day two of the subscription window, after reviewing initial subscription data and GMP trends on tracking platforms like IPO Plus, while still leaving a buffer before the final-day rush that commonly causes UPI mandate delays.
How Many Times Can You Apply for the Same IPO Using Zerodha?
An investor can submit only one IPO application per PAN per category on Zerodha, since SEBI rules reject multiple bids from the same PAN in the same IPO as duplicate applications. However, family members with separate PAN and demat accounts, even if using Zerodha, can each submit an independent application for the same IPO, effectively increasing the household's overall allotment chances without violating any single-PAN restriction.
Frequently Asked Questions
Can I apply for an IPO directly through Zerodha?
Yes, Zerodha allows investors to apply for both mainboard and SME IPOs directly through Zerodha Console using the UPI-based ASBA process, without needing a separate broker or bank application form.
Is there a fee for submitting a Zerodha IPO application?
No, Zerodha does not charge any brokerage or fee for submitting, modifying, or cancelling an IPO application; the only amount involved is the bid value blocked through the UPI mandate.
Why did my UPI mandate request not appear after applying on Zerodha?
A delayed or missing UPI mandate request usually happens due to bank server congestion during high-demand IPOs; investors should check the pending requests section in their UPI app and retry the application on Zerodha Console if the request does not appear within 15-20 minutes.
Can I cancel my IPO application on Zerodha after applying?
Yes, an IPO application can be cancelled on Zerodha Console before the UPI mandate is approved and while the subscription window is still open, by selecting the applied IPO and choosing the withdraw option.
How do I check my IPO allotment status after applying via Zerodha?
IPO allotment status can be checked on the registrar's website, the BSE or NSE allotment status page, or the 'IPO' section of Zerodha Console once the registrar finalizes allotment, typically on T+3 working day after the issue closes.
Can I apply for the same IPO multiple times using one Zerodha account?
No, only one application per PAN per category is allowed for a single IPO; Zerodha and the exchanges reject duplicate bids submitted from the same PAN.
Should I check grey market premium before submitting my Zerodha IPO application?
Checking grey market premium can help gauge listing-day demand before applying, and platforms like IPO Plus provide real-time GMP, live subscription data, and broker reviews to support this research, though GMP remains an unregulated, informal indicator rather than a guaranteed outcome.