How To Apply for IPO in Upstox?

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Initial Public Offering or IPO is always a good investment, especially for budding investors. This is mainly because IPOs provide great opportunities to enter the market at feasible rates. If you are an existing customer of Upstox then you should know how to apply for IPO in Upstox?

Upstox offers a seamless way to apply for an IPO via UPI and net banking. Using these seamless ways you can easily apply for the Stove Kraft Limited IPO.

Upstox is a well-known discount broker in India offering online trading and mutual fund investments. The broker constantly updates its trading software to provide an invincible trading experience to its clients. 

In this article, you will learn about the Upstox IPO application. Stay tuned!

How to Apply for IPO through Upstox?

Upstox is one of the leading discount brokers does with online IPO applications for its customers. It introduced the IPO application via the UPI process from 2nd March 2020.

So who is willing to apply for Upstox IPO via UPI then you should have a UPI before applying for an IPO with Upstox.

Also, it is mandatory to have a Upstox Free Demat account for applying in IPOs offered by the firm. If you do not have an account with Upstox, open your Demat account post which you shall be eligible to apply in IPOs.


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This means that all Upstox users namely – the retail clients, corporate clients, NRI clients, minors and the HUF clients can apply for IPO through Upstox.

Besides, if IPO allotment happens, the shares will be deposited in your Upstox Demat account automatically. These shares can be sold on or after the date of listing.


How to Apply for IPO in Upstox Online?

Many people are not sure if they can buy an IPO from Upstox online. Well, the answer is yes!

You can make online IPO applications of the Upstox platform.

Follow these steps to apply for IPO through the Upstox platform:

  • First, log in to Upstox Pro web
  • Then, select “Apply For IPO” from the drop-down menu
  • Select the IPO you wish to apply for and choose UPI as payment
  • Enter your UPI ID when prompted
  • Finally, Enter your IPO bid amount and click on “Submit”

This procedure can be done using two methods – via UPI and via ASBA/net banking. Let’s understand these two methods in detail.


How to Apply for IPO in Upstox through UPI?

The Upstox IPO-UPI is basically a UPI-based IPO application through the firm’s trading platform. This simply means that in this method, your UPI is used as a payment gateway.

You must have a UPI ID to apply for IPO in Upstox. In case you don’t, create one on any of your desired UPI applications – PhonePe, BHIM, Google Pay, etc. It is a very easy process and hardly takes 5 to 7 minutes.

After creating your UPI ID, simply login to the Upstox Pro web. Visit the IPO section (apply for IPO) and provide all the required information.

Once you have filled in every information, select “UPI” as a payment method and provide your UPI ID.

If and when an allotment happens, you need to verify the transaction post in which the respective (blocked) funds will be debited from your bank account. 

Note that the “primary bank account” of your UPI and the Upstox Demat account should be the same. Also, Upstox Pro Mobile App can not be used for IPO applications.

Moreover, the 3rd party IPO applications can not be done via the UPI method. In simple words, you can not use your family member’s Upstox Demat account to apply for an IPO via your bank’s UPI. 


How to Apply for IPO in Upstox through ASBA?

This method is for those who do not have UPI or simply don’t wish to use it as a payment gateway. 

As a Upstox Demat account holder, you are eligible to apply for IPOs offered by your bank. Most of the popular Indian banks namely – HDFC, SBI, ICICI, Kotak, Axis Bank, etc. offer the IPO application facility.

ASBA abbreviated as Applications Supported By Blocked Amounts takes place via net banking. Here’s how to use ASBA net banking for IPO applications:

  • Visit your bank’s official website and log in.
  • Then, find the IPO section and click on “Invest In IPO
  • The first-timers may have to register themselves. Provide your bank and Demat account details for the same. (This step may vary for different banks)
  • Now, select the IPO you wish to apply for. 
  • Choose your account and fill in details like – number of lots, price, etc.
  • Re-check all the details and tick the “Confirm” option to submit your application.

You may be wondering how Upstox plays a role when the IPO application has been done via your bank’s website. 

Since you have mentioned your Upstox Demat account details in the ASBA method, the IPO allocated shares will be credited to your Upstox Demat account. 

You can sell these shares on or after the IPO listing day through your Upstox Trading Account.   


Upstox IPO Charges

IPO application through Upstox is absolutely free of cost. Upstox does not charge any fee for IPO applications because equity delivery trades are brokerage free on the platform.

You only require to pay transaction charges (Demat debit transactions) and government taxes while selling the IPO allocated shares.


Conclusion

IPOs are a great source of listing gains and need not be held for long. Upstox IPO offers great investment opportunities to its clients at zero cost.

Just keep in mind that the Upstox mobile app can not be used for online IPO applications. You can do that only through the firm’s web platform. (You can just view the allotment status through the mobile app)

This write-up has addressed all aspects of Upstox IPO in detail. Hope it helped. Happy trading!


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