✅ How to Apply for an IPO in India (Step-by-Step Guide – 2025 Updated)
📌 Introduction
Initial Public Offering (IPO) is the first time a private company offers its shares to the public. It’s a great investment opportunity for retail investors looking to buy shares at the ground level before they're listed on the stock exchange.
In this 2025 step-by-step guide, we explain how to apply for an IPO in India using popular platforms like Zerodha, Groww, Upstox, and via ASBA using net banking.
🧐 What is an IPO?
An IPO (Initial Public Offering) is when a company offers its shares to the public for the first time to raise capital. You can apply for IPOs to invest in these companies and potentially gain strong returns post-listing.
✅ Eligibility to Apply for an IPO
To apply for an IPO in India, you must:
-
Be an Indian resident.
-
Have a PAN card.
-
Hold a Demat & Trading account.
-
Have an active UPI ID (for UPI-based applications).
-
Maintain sufficient funds in your bank account.
🧾 Documents Required
-
PAN Card
-
Aadhaar Card
-
Demat Account Details (with CDSL/NSDL)
-
Bank Account (linked to UPI or Net Banking)
-
UPI ID (if applying via app-based brokers)
📈 Step-by-Step Process to Apply for an IPO in 2025
You can apply through:
🔹 A. Through Stock Brokers (Zerodha, Groww, Upstox)
👉 Step 1: Open your Broker’s App
Log in to your stock broker account (e.g., Zerodha, Groww, or Upstox).
👉 Step 2: Go to IPO Section
Locate the “IPO” tab in the dashboard or main menu.
👉 Step 3: Choose the IPO
Select the IPO you want to apply for (e.g., PhonePe IPO, Groww IPO, etc.).
👉 Step 4: Enter Bid Details
-
Choose number of lots
-
Enter the bid price (or use the cut-off price option)
👉 Step 5: Enter UPI ID
-
Enter your UPI ID linked with your bank account.
👉 Step 6: Accept Mandate on UPI App
-
You will get a UPI request on apps like Google Pay/PhonePe/Paytm.
-
Approve the request to block funds.
✅ Done!
Your IPO application is submitted. You’ll get allotment results within a week after IPO closes.
🔹 B. Through Net Banking (ASBA Method)
👉 Step 1: Login to Net Banking
Login to your bank’s net banking account that supports ASBA (SBI, HDFC, ICICI, Axis, etc.)
👉 Step 2: Go to IPO/ASBA Section
Navigate to “e-services” > “Demat & ASBA services” or similar section.
👉 Step 3: Select the IPO
Choose the ongoing IPO you wish to apply for.
👉 Step 4: Fill Application
-
Select category (retail)
-
Enter bid quantity
-
Enter PAN number
-
Enter Demat Account Number
👉 Step 5: Submit & Block Funds
The amount will be blocked in your account. No money is deducted unless shares are allotted.
💡 Important Tips Before Applying
-
Apply on Day 1 or 2 to avoid technical delays.
-
Always use UPI linked with your bank account.
-
Don’t share UPI or bank credentials with anyone.
-
You can cancel and re-apply before the IPO window closes.
📅 IPO Allotment & Refund Process
-
IPO closes in 3 days (usually).
-
Allotment happens in 6-7 days after closing.
-
If not allotted, funds are automatically unblocked.
-
If allotted, shares will be credited to your Demat Account before listing day.
🛠 Top Apps to Apply for IPOs in 2025
| App | UPI Support | Ease of Use |
|---|---|---|
| Zerodha | ✅ Yes | ⭐⭐⭐⭐☆ |
| Groww | ✅ Yes | ⭐⭐⭐⭐⭐ |
| Upstox | ✅ Yes | ⭐⭐⭐⭐☆ |
| Paytm Money | ✅ Yes | ⭐⭐⭐☆☆ |
🏁 Final Thoughts
IPO investing can be a rewarding strategy if done smartly. Use this 2025 updated guide to apply for IPOs confidently and diversify your investment portfolio.
Stay updated on upcoming IPOs like PhonePe, Groww, Meesho, and others — and don’t forget to read the company’s prospectus before applying!