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Upstox IPO Review (Apply Steps, UPI and Allotment Status)

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Upstox offers online IPO applications to its customers. The IPO applications are offered using the UPI mechanism, in which only UPI is accepted as payment options. Customers should have a UPI before applying for an IPO with Upstox.

Upstox is the 2nd largest discount stock broker in India. It offers online trading at BSE, NSE, and MCX since 2012. It also offers Mutual Funds. Upstox is famous for its discount brokerage plan (flat rate per trade brokerage charges) and powerful trading software. The trading software offered by upstox is built in-house. They are offered for free to all its customers.

Upstox IPO Application

Upstox customers can apply in an IPO using 2 ways:

Upstox IPO Application (UPI Based)

Upstox offers online IPO applications to its customers. Upstox customers can apply in IPO's at BSE and NSE online using UPI as payment gateway.

Note:
- Customers should have a UPI to apply in an IPO using Upstox.
- The primary holder of the bank account (used in UPI) and demat account should be the same.
- 3rd party IPO applications are not allowed. You cannot apply in an IPO on your family members' demat account using your bank account's UPI. (You could do this with ASBA application offered by few banks like SBI).
Net Banking IPO Application (ASBA Based)

If you are an Upstox customer and do not wish to use Upstox IPO (UPI), you have an option to invest through the ASBA facility offered by your bank. Here are the steps to apply for IPO using ASBA net banking:
1. Visit the website of the bank and login to your account
2. Go to 'Invest in IPO' section of the website
3. With some banks, for the first time, you need to register as an applicant by providing your bank and demat account details
4. Select the IPO you wish to invest
5. Choose the account and some of the details will be auto-populated
6. Enter details like the number of lots you wish to apply, price, etc.
7. Confirm and submit the application
Please note that the above process may differ slightly from bank to bank.

Process to Apply in IPO with Upstox

Following are the steps to apply for IPO online using upstox:

Login to your Upstox pro trading website
Go to IPO section
Select the IPO you wish to apply
Enter your UPI ID
Submit the IPO bid

Initial Public Offer (IPO)

Initial Public Offer (IPO) is a process through which a privately held company first time goes to the public to raise funds for its business needs and get listed at the stock exchanges. This process results in to:

The company shares get listed at stock exchanges.
Stock market investors can start trading shares of the company on a day-to-day basis.
The company gets funds for future projects or to pay the debt.
Promoters who sell their own shares; get money.
Investors get the opportunity to buy the share of the companies in the early stage.

IPO offers a great opportunity to buy shares of the company in the early stage of its journey at stock exchanges. IPO shares usually have a huge demand. Many IPO's get 100+ times bid for shares. In India, retail investors have a reserved portion in an IPO. A fixed 35% IPO Shares are reserved for retail investors. This reservation increases the chance of allotment of IPO shares. Some retail investors use this to buy IPO shares for listing gains only, instead of holding the shares for the long-term.

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Frequently Asked Questions

1. Can I apply for an IPO through Upstox?
Yes, you can apply for IPO through Upstox. There are two ways available for Upstox customers to apply in an IPO.
1. Upstox Online IPO Application (UPI based)
2. Net Banking ASBA IPO Application
Upstox Online IPO Application (UPI based)

Upstox offers an online IPO application using the UPI as your payment method. To apply in an IPO using Upstox, you will first have to set up your UPI ID, for the first time only. You could set up a UPI ID for free using your own bank's Mobile Banking App or through the Government of India's BHIM App.

Once you have your UPI setup, login to the Upstox Pro website or Upstox Mobile App, go to the IPO section and apply for IPO in just a couple of easy steps.

Net Banking IPO Application (ASBA Based)

If you have a Upstox demat account, you can also apply in IPO using an online IPO facility offered by your bank using net banking. Almost all popular banks including ICICI, HDFC, SBI, Kotak, Axis Bank offer online IPO.

To apply using ASBA, login to your bank's net banking website, visit the IPO section, choose IPO and fill the online IPO application form. Make sure to mention your upstox demat account detail when filling the IPO application form. It takes less than a couple of minutes to apply in an IPO using this method.

Even though you applied through your bank, the allocated IPO shares are delivered to your upstox demat account. You can sell them using the upstox trading account on or after the IPO listing day.
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2. How to apply for an IPO through Upstox?
Upstox customer can use one of the two ways to apply in an IPO:
1. Upstox Online IPO Application (UPI based)
2. Net Banking ASBA IPO Application
Steps to apply in an IPO through Upstox (UPI Based)
- Login to Upstox Pro Web (website) or Upstox Pro Mobile App
- Click on your name and customer ID on top right
- Click on Apply for IPO link
- Select the IPO and click 'Details' button
- Go to the bottom of IPO Detail page and click 'Place Bid'
- Enter your UPI ID
- Choose Investor Type, enter order quantity and price
- Choose Cutoff-price checkbox if applying in the retail category
- Review and place the IPO order
- Approve the notification received on the BHIM app in 2 to 12 hours.
If you have Upstox demat account, you can also apply in IPO using an online IPO facility offered by your bank using net banking. Almost all popular banks including ICICI, HDFC, SBI, Kotak, Axis Bank offer online IPO.

Steps to apply in IPO for Upstox customers using Net Banking (ASBA Based)
- Login to the Net Banking website or mobile app of your bank.
- Go to the IPO section.
- Choose IPO and proceed to apply.
- Enter your Upstox demat account number
- Choose Investor Type, enter order quantity and price
- Choose Cutoff-price checkbox if applying in the retail category
- Review and place the IPO order
Note: The allocated IPO shares are delivered to your upstox demat account. You can sell them on the IPO listing day.
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3. Why Upstox doesn't offer IPO?

Upstox started offering online IPO application using UPI mechanism started from March 2, 2020.

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4. Can Upstox customers apply in IPO online?

Yes, Upstox customers could apply in an IPO online using UPI or ASBA.

Upstox themselves offer a UPI based online IPO application. This is suitable for people who would like to apply for an IPO using UPI.

Upstox customers can also apply to an IPO using the ASBA IPO application offered by almost all banks. This application is part of net banking. Customers can provide an Upstox demat account number while filling this application. The allocated shares are directly deposited in your upstox demat account.

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5. How do I apply in IPO using my upstox trading account?
Upstox customers can apply in an IPO in two ways:
1. Upstox IPO Application (UPI)
  Upstox offers a UPI based IPO application which allows its customer to apply in IPO online. Upstox offers all kinds of IPOs including mainboard and SME IPO. Applying in IPO with upstox is just a 3 step simple process.
  The customer should have a UPI (through their bank or BHIM application) to apply in IPO using upstox.
2. Net Banking IPO Application (ASBA)
  Upstox customers can also apply in an IPO using net-banking of the bank they are using i.e. SBI, ICICI, HDFC, etc. While applying in an IPO through net banking, provide your upstox demat account number. The allocated shares are directly deposited in your upstox demat account and are available for sale on listing day.
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6. How do I sell IPO Shares from Upstox Demat Account?

You could sell the allocated IPO shares in the same way you sell any other shares at Upstox. You could do that once the shares are credited in your Demat Account. Upstox allows both mainboard and SME IPOs.

As equity delivery trades are free with Upstox, you don't pay any brokerage when selling IPO shares with Upstox.

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7. Who can apply in IPO's with Upstox?

All Upstox customer who has a demat account with upstox can participate in an IPO through upstox. The allocated shares from IPO are deposited into the upstox demat account and are available for sale on the IPO shares listing day.

All types of Upstox customers including Retail, NRI, Corporate, Minor, HUF, etc. can apply in IPO.

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8. Is there a fee in applying for IPO with upstox?

No, upstox does not charge any fee for applying an IPO through them.

Besides, as equity delivery trades are brokerage free at Upstox, you don't have to pay any brokerage when you sell IPO shares. You just pay government taxes and demat debit transaction fee when selling IPO shares.

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9. Does Upstox Mobile Trading App offer IPOs?

No, Upstox Mobile doesn't offer online IPO.

You have to use Upstox Website to apply in IPO online. Note that Upstox offers IPO using UPI as a payment option.

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10. Does RKSV Securities offer IPO Recommendations?

No. Upstox (RKSV Securities) doesn't offer IPO reviews or recommendations to its customers.

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11. How to delete my Upstox account?
You can delete or close your Upstox account if you don't want to use it further. The account can only be deleted or closed offline by sending a signed paper form.

Steps to delete Upstox account
- Visit upstox.com website
- Click on the 'Support' tab and then on 'Download Forms'
- Download the 'Demat Account Closure'
- Take a printout, fill it and sign it
- Send it to the address mentioned on the form
You will get a call from the upstox representative once they receive your request.
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