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IPO guides · Reviewed 23 Oct 2026
To apply for an IPO in India you need a demat account, a UPI ID linked to your bank and an open issue. Pick the IPO in your broker app, choose the number of lots at the cut-off price, enter your UPI ID and approve the mandate request in your UPI app before it expires.
A demat and trading account, a PAN linked to it, and a UPI ID from a bank that supports IPO mandates.
An IPO is usually open for three working days. Applications close at the stated time on the last day.
The amount is blocked in your bank account, not paid, until shares are allotted.
Allotment is finalised after the issue closes. You can then check status by PAN.
Check the issue's price band, lot size, open and close dates on the IPO calendar. The lot size decides your minimum application: one lot at the upper end of the price band.
Make sure your demat account is active, your PAN is linked to it and the bank account you will use has enough balance to cover the application amount.
The screens differ by broker but the steps are the same.
Approving the UPI mandate blocks the application amount in your bank account under the ASBA process. The money stays in your account and is not debited until shares are allotted.
If you are not allotted shares, or are allotted fewer than you applied for, the blocked amount is released after the allotment is finalised.
Once the issue closes, the registrar finalises the basis of allotment. You can check your IPO allotment status by PAN on the registrar's site or on IPOCheckr. Allotted shares are credited to your demat account before listing day.
General information, not investment advice. Rules set by SEBI, RBI and the exchanges can change, so confirm current limits with your broker or the offer document.