When can I place an IPO order on Zerodha?
During the IPO period, the order window is open on trading days between 10 am and 4:30 pm. A bid placed with Zerodha has to be verified and submitted to the exchange within the order window after which you will receive a UPI mandate request.
The validation and subsequent submission is not real-time and can take any time between a few minutes to a few hours. Since the exchange may not accept bids after 5 pm, the bids collected on the last day after 3 pm are submitted to the exchange on a best effort basis. It would be good practice to submit your IPO bid before 3 pm on the last day.
Click here to learn more about placing bids in an IPO.