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How to apply IPO in HNI Category in Zerodha?

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Zerodha doesn't provide an IPO application for the HNI category. A stockbroker like Zerodha, Angel, Upstox, and Groww doesn't offer banking services. They offer UPI as a payment option for IPO applications. As UPI has a transaction limit of Rs 2L max, you cannot use UPI as a payment option for the HNI IPO application.

If you have a Zerodha Demat Account, you could apply IPO in the HNI category using two ways:

  1. Banks' Net Banking facility
  2. Submitting the paper form to the bank

Steps to apply IPO in HNI Category in Zerodha

  1. Log in to the net banking facility of your bank (i.e. SBI, ICICI, or HDFC)
  2. Go to the IPO investment section of the website or app
  3. Choose the IPO and click Apply button
  4. Choose 'Non-Institutional' as a category
  5. Choose CDSL as depository.
  6. Fill in your Zerodha Demat Account information
    • Depository Name: ZERODHA SECURITIES PRIVATE LIMITED
    • DP ID FOR IPO APPLICATION: 12081600XXXXXXXX
  7. Fill in the bidding details i.e. price and shares
  8. Submit the application.

The allocated shares are transferred to your Zerodha demat account. You could sell them on the day of listing. The funds remain locked in your bank account and withdrawn at the time of allotment for allocated shares.


1 Comments

1. Velstock  Nov 16, 2021 9:29:21 AM I Like It. | Report Abuse Reply
My Indian bank account is linked with Zerodha demat account. I have net banking in SBI Bank only. Can I apply ipo in hni category in SBI net banking.? (Demat is linked to Indian Bank)