IIFL Securities IPO Review (Apply Steps, UPI and Allotment Status)


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IIFL offers a paperless online IPO application through its Trading Terminal (TT) platform. IIFL customers can apply in IPO using its website or through the IIFL Markets mobile app.

IIFL online IPO application is based on the UPI payment gateway. This is similar to the IPO application offered by almost all brokers except banks that uses ASBA. The IPO application process is 100% online and hassle-free. You just have to do is enter your UPI ID, the number of shares and the bid price. IIFL takes care of everything else.

IIFL also offers IPO analysis and expert advice.

Note: The IIFL online IPO application is available only retail investors applying below Rs 2 lakhs in an IPO. This application cannot be used to apply in HNI and NII categories.


Initial Public Offer (IPO)

An initial public offering or IPO is the first sale of stock by a company to the public. When a company going to the public via IPO, it is switching from private ownership to public ownership. An IPO helps the company in raising money from investors by issuing new shares.


IIFL IPO Apply Online - A Step by Step Guide

An IIFL customer can apply in an IPO using the IIFL trading website or IIFL Markets mobile app. The process of applying in IPO through these apps is similar.

Note: The IIFL online IPO application requires the customer bank account UPI ID which is linked to customers as a primary account holder.

1. Apply for IPO in IIFL mobile app

Below are the 10 steps to apply in an IPO using IIFL Markets App.

  1. Login to IIFL Markets Mobile App.
  2. Go to the IPO section on the website for the list of all open IPO.
  3. Click on IPO in which you would like to apply.
  4. Click the 'Apply' button next to Purchase.
  5. Select 'investor type' and enter UPI ID, quantity and price.
  6. Check the cut-off box next to the price field.
  7. Click on the 'Pay Now' button.
  8. IIFL sends a payment request to your UPI application (banking mobile app or BHIM app) in a few hours.
  9. Accept the mandate, by logging in to the UPI application.
  10. IIFL sends an SMS confirmation to acknowledge your IPO bid.
Apply for IPO in IIFL mobile app - Demo 1
Apply for IPO in IIFL mobile app - Demo 2
Apply for IPO in IIFL mobile app - Demo 3

2. Apply for IPO in IIFL Website

Below are the 10 steps to apply in an IPO using the IIFL website.

  1. Login to the IIFL trading website.
  2. Go to the IPO section on the website for the list of all open IPO.
  3. Click the 'apply' button in front selected IPO to go to IPO order page.
  4. Choose investor type as 'Individual'
  5. Enter UPI ID, quantity and price.
  6. Check the cut-off box next to the price field.
  7. Click on the 'Pay Now' button.
  8. IIFL sends s payment request to your UPI application (banking mobile app or BHIM app) in a few hours.
  9. Accept the mandate, by logging in to the UPI application.
  10. IIFL sends an SMS confirmation to acknowledge your IPO bid.

Apply for IPO in IIFL Website - Demo 1

Apply for IPO in IIFL Website - Demo 2


IIFL ASBA IPO Application (Using Net Banking)

IIFL customers can also use ASBA IPO applications using the net banking facility of their bank and IIFL demat account. The ASBA IPO application is recommended for the following customers:

  • Retail customers who don't have a UPI ID.
  • Customers who would like to apply in IPO using 3rd party bank account.
  • HNI and NII customers.

Steps to Apply IPO in IIFL using ASBA

The following are the steps to apply IPO in IIFL using ASBA as a payment option.

  1. Login to your Bank's Net-Banking Account (Website or Mobile App).
  2. Go to the 'IPO' section.
  3. Click on 'Apply for IPO' next to the selected IPO.
  4. Fill IPO order form by entering details like investor type, quantity and price.
  5. Enter IIFL demat account details.
  6. Verify and confirm the order.

Note that once allotment is done, the IPO shares, if allotted, will be credited directly to your IIFL demat account. You could sell these shares on listing day using your IIFL trading account.


IIFL IPO Charges

There are no charges to apply for an IPO with IIFL. However, you will have to pay standard brokerage fees when you sell the shares allotted through IPO.


Checking IPO application status with IIFL

On allotment, you will get a message/email from the company for credit of shares in your Demat account.

You can check the IPO application status or on the website of the IPO registrar/Lead Manager.

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Frequently Asked Questions

  1. 1. I have an account with IIFL. Can I apply in IPO?

    Yes, you can apply for an IPO or an FPO using IIFL trading and the Demat account.

     

  2. 2. How to apply for an IPO with IIFL?

    You can apply for an IPO with IIFL using its desktop trading terminal as well as by login to its website or through IIFL Markets mobile application.

     

  3. 3. Who can apply for an IPO with IIFL?

    IIFL customers who have a trading and a demat account with the company can apply for an IPO. In case, you only have a Demat account with the company then also you can apply for IPO using net banking ASBA process of your bank.

     

  4. 4. Can I apply for an IPO using IIFL Markets app?

    Yes, IIFL Markets mobile app provides IPO application facility.

     

  5. 5. Can I withdraw an IPO application with IIFL?

    Yes, you can withdraw an IPO application within the bidding period. To withdraw an application, go to the order book, select the IPO and withdraw. The blocked money will be released in a day or two.

     

  6. 6. Why do I need a Demat account to apply for an IPO with IIFL?

    The IPO shares, if allocated will be credited to your Demat account. Moreover, SEBI regulations mandate all investors to apply in IPO with a Demat account.

     

  7. 7. Can I sell the shares allocated through IPO with IIFL?

    Yes, you can sell the shares using the IIFL platforms. However, these shares will be eligible for trading from the listing day. You need to follow the same process used for placing any SELL order on the platform.

     

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Information on this page was last updated on Wednesday, September 16, 2020


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