From Zerodha you can apply IPO in only 10 seconds, As they only approve UPI 2.0 enabled UPI, so only some UPI application work with this system, Phonepe is one of them, Use the same UPI ID shown in the below article only then you can use IPO system.
Login to your account and Go to Console, click Portfolio and then click IPO. Process mentioned below.
After selecting IPO you will get List of IPO you can subscribe for that day only, IPO window open at 10 Am and closes at 5 Pm , So you apply IPO within in this time only, only on Trading days.
Select your IPO and Click Place Bid.
Zerodha Only takes Simple UPI that means UPI which have simple Names in the last like @ybl , @hdfcBank, @icici, @sbi, @citi, @citigold, @axisbank, @hsbc, only these UPI are enabled on UPI 2.0 system, SO if you apply from UPI like @okhdfcbank, or @paytm or @ok-1axis, then your application will get reject. so make sure your UPI is within the 8 UPI enabled for IPO process.
So after applying UPI from phonepe I filled IPO application.
SO after applying and after submitting the application you will get message from NSESMS at 5pm, It will tell you to approve the UPI from Phonepe to apply IPO application.
Your Money will be blocked till 11th october 2019, after 11th you will get information about allotment. Listing is on 14th October. Make sure Name on Account is same as per Name on Bank Account, otherwise your application will get reject.
4 Comments
Hello Divish,
Can we apply from any banks account(for UPI mandate) or the a/c should be with some specific bank?
Thanks in advance!
Bank Account should be the same which is associated with the Zerodha ID.
I’ve account with Bank of India, from which I deposit fund to zerodha.But while accepting mandate in Phonepe, it says you do not have any account which supports UPI Autopay.
Sir, PSU Banks have the highest number of UPI Failure, I also have 2 PSU Bank Account, Both have 100% failure during UPI Payments. That’s why i use HDFC Bank for UPI payment, THhere is bad system in PSU Banks,