Best Platforms for IPO Investment in India 2025

Applying for an IPO should feel like a two-tap checkout, not a treasure hunt across apps. Your real hurdles are practical: the UPI mandate that expires if you don’t accept it by 5:00 PM on the issue’s closing day, the ₹5 lakh per-application cap for UPI payments (while the retail investor cap still sits at ₹2 lakh), and the strict “one application per PAN per IPO” rule. Miss any of these, and your bid may be rejected.

Below are the best, battle-tested platforms to apply quickly, track status, and avoid avoidable rejections.

Groww

Groww is one of the best platforms for IPO investment in India due to its clean, uncluttered UI, which makes the whole IPO application a two-step procedure.

It allows users to apply for both mainboard and SME IPOs, with a pre-apply feature for early submissions.

With the Groww app, retail individual investors, employees (if eligible), HNIs and shareholders (if applicable) can apply for an IPO.

The best part about the app is that it provides all essential IPO information at a glance on the IPO page. This includes bidding dates, lot size, minimum investment, price range, issue size, RHP PDF, overall subscription rates, company overview, strengths, financials, and other application details.

Once the IPO allotment is out, users can also check their IPO allotment status directly on the app.

Why it eases your pain: Pre-apply reduces last-minute rush; the interface makes “cut-off price” selection obvious; status tracking lowers the post-bid anxiety.

Zerodha (Kite / Console)

Zerodha’s IPO module is stable, shows you the price band and lot calculator, and supports pre-apply (pre-apply opens a day before; SME IPOs excluded). It also states the crucial timing rules: accept the UPI mandate by 5:00 PM on the closing day; if you apply late in the evening, the mandate may land only the next morning. That transparency saves failed bids.

Why it eases your pain: The platform spells out deadlines and what to do if a mandate is delayed, which is the most common reason for rejections.

Upstox

Upstox lets you apply via UPI end-to-end from the app, and its tutorials demystify the process (enter UPI ID, submit, then approve the mandate in your UPI app to block funds). It’s straightforward for beginners and keeps focus on the one thing that invalidates many bids—you must approve the mandate.

Why it eases your pain: Clear, step-by-step guidance and reminders around mandate approval reduce accidental non-authorisations.

Angel One

Angel One supports UPI applications and is explicit about timing: pending mandates expire after 5 PM on the last day. It also lists common rejection reasons (wrong UPI ID, PAN mismatches, multiple applications on the same PAN) so you can fix issues before the window closes. No charges to apply for an IPO through Angel One.

Why it eases your pain: You get precise cut-off guidance and a checklist of failure modes in one place.

ICICIdirect

If you like full-service brokers, ICICIdirect is robust and integrates well with ICICI Bank. You can apply using ASBA from your bank (money is blocked, not debited, and continues to earn interest until allotment), or use UPI per their support materials. ICICIdirect’s guides cover the IPO flow and FAQs in detail.

Why it eases your pain: ASBA via your bank avoids UPI mandate hiccups for higher bids (mainly if you apply for amounts above ₹2 lakh in the NII category, up to UPI’s ₹5 lakh cap).

HDFC Securities

HDFC Securities lets you apply through UPI or ASBA, with a simple online form and tracking. If you bank with HDFC Bank, the ASBA route inside NetBanking is convenient and avoids third-party UPI issues. Their pages also explain UPI basics if you prefer the newer route.

Why it eases your pain: You can pick the method that suits you that day—UPI for speed, ASBA for stability.

Kotak Securities (and Kotak Bank UPI)

Kotak Securities supports UPI-based IPO applications in a few steps (select IPO, provide UPI ID, and approve block request). Kotak Bank also explains how to apply via UPI ID at the banking layer. This is applicable if you keep your IPO funds with Kotak.

Why it eases your pain: Tight broker–bank alignment reduces the risk of mandate notifications getting lost across apps.

Your bank’s NetBanking (ASBA): SBI, HDFC Bank, ICICI Bank

The ASBA route at your bank remains the reliability king—especially if you’re bidding more than the retail ₹2 lakh cap (and up to UPI’s ₹5 lakh limit) or you’ve had UPI mandate glitches. SBI, HDFC Bank, and ICICI Bank all provide online ASBA: log in, head to the IPO/ASBA section, select the issue, enter your demat details, and submit. Funds stay blocked and auto-release if you don’t get allotment.

Why it eases your pain: Fewer moving parts, no mandate notifications to chase, and your bank shows the block clearly in your account.

Crucial rules and tips you should follow (so your application doesn’t get rejected)

• Timing really matters: Place your bid early and approve the UPI mandate no later than 5:00 PM on the closing day. Late approvals are invalid.
• Respect limits: UPI applications can go up to ₹5 lakh; the retail category remains capped at ₹2 lakh per PAN. Above that, apply as NII (Small HNI) and consider ASBA if you need to bid more than ₹5 lakh.
• One PAN, one application: Submitting multiple applications in the same IPO under the same PAN will get rejected. Don’t use third-party UPI IDs or bank accounts either.
• Cut-off price for retail: If you’re unsure of the price, select Cut-off so you don’t get left out when the final price is set.
• Track allotment correctly: After the issue closes, check the status on your broker and the BSE application status page; refunds/unblocking happen automatically if you aren’t allotted.

Conclusion

Investing in an IPO is one of the most direct ways to participate in a company’s growth story from day one. But convenience, timing, and reliability matter just as much as market opportunity. The platforms above make IPO applications smoother, faster, and more transparent by simplifying everything from bidding to tracking allotments.

Whether you prefer the speed of UPI-based apps like Groww, Zerodha, or Upstox, or the rock-solid stability of ASBA via your bank, the key is to apply early and stay mindful of mandate approvals. A good platform doesn’t just execute your bid; it helps you invest with confidence.

With the right tools, you can stop worrying about application errors and focus on what really matters: choosing strong businesses to invest in, at the right price.