How to Apply for IPO using UPI?

Initial Public Offering (IPO) is one of the most sought-after investment options in India. In fact, a majority of retail investors open a Demat account with the sole purpose of investing in IPOs. Gone are the days when applying for an IPO involved filling physical forms and standing in queue with your broker or bank to submit your application. With the growth of online share trading, introduction of Application Supported by Blocked Amount (ASBA) and UPI, applying for an IPO has become extremely simple and hassle-free. Let us understand how to apply for IPO using UPI.

What is UPI?

UPI stands for Unified Payments Interface. It is a national payments interface that has made digital payments in India extremely safe and convenient. UPI was spearheaded by National Payments Corporation of India, under a joint leadership between the Reserve Bank of India and the Indian Bank Association. The UPI mechanism is centered around the transfer of money from one bank account to another through a unique ID called the UPI ID. While primarily used to transfer money between bank accounts, UPI is also used in the financial ecosystem, including applying for IPO.

What are the benefits of IPO application through UPI ID?

Convenience

- When you apply for an IPO using UPI, you simply have to enter your UPI ID and OTP. That’s it. Your IPO application is complete. No need to fill and submit cheques and wait for a couple of days for it to clear. With UPI, applying for an IPO happens in minutes.

Transparency

- The process of applying for an IPO using UPI is transparent. Once you have selected the number of lots you wish to apply for, you can proceed to the payment and use your UPI ID to complete the application.

Interest on the application amount

- Since the application amount does not get deducted from your bank account till the time the shares get allotted to you, you keep earning interest on said amount.

How to apply for an IPO through UPI ID?

In order to apply for an IPO using UPI, you must have an active UPI ID. If you don't have one, you can simply create your UPI id by following the below steps:

Download any of the authorised UPI apps on your mobile phone - PhonePe, Google Pay, Amazon Pay, and Paytm etc
Start the UPI ID creation process by entering your mobile number linked to your bank account
Create a login password
Select the bank account you wish to link the UPI ID to
Enter the required debit card details and request a One Time Password
Enter the One Time Password received on your registered mobile number
Create a UPI Pin for transacting with your newly created UPI ID
Remember your UPI ID, login password, and UPI Pin. Do not share this information with anyone
Enter your UPI ID in the payment tab of your IPO application to apply for an IPO using UPI
Complete the payment by entering your UPI pin

How to apply for an IPO through m.Stock's mobile app or website?

Visit our website www.mstock.com or download our mobile application
Open a Demat account with us (if you have not done so already)
Log in to your Demat account
Click on IPO section under the menu tab
Select the IPO you wish to apply for
Enter the number of shares and your bid price
Check your IPO application and proceed to the payment tab
Select the mode of payment as UPI
Enter your UPI ID and generate OTP
Enter the OTP and that’s it! Your IPO application process is complete

Now that you know how to apply for an IPO using UPI, you can use this convenient and transparent payment option during your next IPO application. But why just IPOs? You can use the various asset classes at your disposal like equity, mutual funds, currency etc, especially since you can trade for free across products for life with m.Stock’s Zero Brokerage account. So, let the savings and wealth creation begin!

Frequently Asked Questions

Yes, you can apply for an IPO through Paytm.

Yes, subscribing to an IPO through UPI is an extremely swift and hassle-free.

Several UPI apps can be used for applying to an IPO, including Paytm, PhonePe, and Google Pay.

Yes, you can use your Google Pay UPI ID for IPO application.

No, you cannot submit multiple applications in an IPO with the same UPI ID.

How to Buy Unlisted Shares of Pre IPO Companies?

As an investor, you might be familiar with purchasing the shares of companies listed or about to be listed on a stock exchange. However, did you know that you can buy unlisted shares as well? Yes, you read that right. There are multiple ways through which you can gain exposure to companies that haven’t yet been listed on an exchange. Here’s a comprehensive look at what you need to do to buy unlisted stocks.

01 June,2023

What is the IPO Process in India?

It is through the Initial Public Offering (IPO) process that a private enterprise becomes a public company by offering its shares to the public for the first time. As you can imagine, it is a very important process for the company as it allows it to raise funds for its growth and expansion. Apart from this, going public comes with additional benefits such as access to higher capital, increased liquidity, enhanced reputation and credibility, and access to a broader pool of investors.

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What is Face Value in an IPO?

The number of companies issuing their shares to the public through an IPO has risen in recent years. Now, before you proceed to invest in one, you need to be aware of the different terms associated with IPOs. Face value of an IPO is one such term that you should know. Let’s take a closer look at the meaning and significance of the term, face value of an IPO.

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How to Apply for IPO using UPI?

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