Another busy IPO season is upon us. The public issue of FSN E-Commerce Ventures Ltd., which runs online marketplace for beauty and wellness products Nykaa, opened with strong demand today. A large number of IPO applicants bid through Zerodha, India’s largest stockbroking company. According to Nitin Kamath, co-founder of Zerodha, 20% of all Zomato applications were made through his stockbroking company. The Zomato issue was a huge success and was subscribed over 40 times.
Apart from the hero, ₹1,200 crore IPO of Fino Payments Bank to open tomorrow while ₹The 5700 crore IPO of PB Fintech, which operates online insurance platform PolicyBazaar and credit comparison portal Paisabazaar, will open on November 1. Paytm’s mega IPO is expected to open on November 8 and the amount the company can raise. ₹18,300 crore from share sale.
Remember that investors can submit only one application per PAN number. Multiple applications under the same PAN are rejected by the registrar who manages the share allotment:
How to apply for IPO through Zerodha:
Users of the Zerodha platform can apply for the IPO using any of the supported UPI apps. They need to install BHIM UPI app and register their UPI ID
they need to login Zerodha Console And select ‘IPO’ in the ‘Portfolio’ menu.
Then choose the IPO you want to apply for. They can also view the list of current open issues.
After selecting the IPO, enter the UPI ID to confirm its validity. Make sure this UPI ID is mapped to your personal bank account. It is to be noted that the IPO application may get rejected if the person applying is different from the bank account used to make the application.
Select the investor type for your application. If you wish to apply at the cut-off price, simply click on the checkbox next to ‘Cutoff-price’. If you wish to bid at a different price, you can do so by entering a price in the ‘Price’ field.
Once you have completed these steps, click on the checkbox to confirm that you have read the RHP and other documents and click on submit.
You will receive an SMS from NPCI confirming your bid and requesting you to accept the mandate on the BHIM UPI app. Then accept the mandate request on your BHIM UPI app. The investor will receive an SMS from the exchange to confirm the application.
Make sure that the application number on the console (or the one sent by the Exchange EOD on the day of your bid) matches with the application number on the BHIM UPI app mandate.
If you have amended your bid, you will have to accept a new mandate on your BHIM app.
According to the Zerodha website, the IPO window is open from 10 am to 4:30 am on trading days during the subscription period. “You can accept the UPI mandate request till noon, a day after the close of the IPO window. If you do not receive the UPI request by the end of the day due to delay from the bank, please delete and re-apply,” its website says.
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