What are Infrastructure Investment Trusts (InvIT), and how to invest in InvIT IPOs using UPI?

Infrastructure Investment Trusts (InvIT) are like mutual funds for infrastructure projects. Investors pool their money, and an InvIT invests in infrastructure companies building roads or highways. Returns come from dividends and capital appreciation.

Bids for InvIT IPOs cannot be revised downwards, only upwards. For example, an application of ₹30,000 can be modified to ₹40,000 but cannot be reduced to ₹25,000.

To apply for InvIT IPOs follow these steps:

Kite app

1. Tap on Orders.
2. Tap on IPO.
3. Select the REIT IPO from the ongoing list of IPOs and tap on Apply.
4. Tap on Apply again and enter the UPI ID.
5. Enter or edit the Quantity and the Price.
6. Tap on the undertaking tick box and swipe the Submit button.
7. Accept the mandate on the UPI app.

Kite web

1. Click on Orders.
2. Click on IPO.
3. Click on Apply.
   
4. Enter the UPI ID.
5. Enter the Qty and Price. The quantity should be a multiple of the lot size, and the price entered should be within the issue price range.
6. Click on the undertaking checkbox and click on Submit.
7. Accept the mandate on the UPI app.

InvIT IPO orders can be placed anytime between 10 AM on the issue opening day and 4:30 PM on the issue closing day.

Zerodha sends an email requesting clients to accept the mandate on the UPI app. The UPI mandate can be accepted until 5 PM on the closing day of the InvIT IPO. The exchange will send an SMS confirming the application by the end of the day. The bid details can be verified one day after applying for the IPO on NSE and BSE.

Did you know?

• If a client uses the wrong UPI ID or cannot receive a mandate request for any reason, they cannot delete their application. However, they can apply using netbanking ASBA. The application through net banking will still be considered unique and eligible for allotment since the UPI mandate step was not completed.
  
• There are no charges to apply for an IPO through Zerodha.