When can IPO orders be placed on Zerodha?
IPO orders can be placed anytime between 10:00 AM on the issue opening day and 4:30 PM on the issue closing day.
New applications that are placed during the market hours are submitted to the exchange on the same day, whereas the applications that are placed between 4:30 PM to 10 AM the next day are submitted when the market opens. The submitted IPO applications can be modified or cancelled only between 10:00 AM and 4:30 PM on trading days.
Once an IPO order is placed, Zerodha verifies the application and submits it to the exchange. A mandate request is sent to the UPI app once the application is submitted. If the UPI mandate request has not been received, see Why is there a delay in receiving the IPO mandate on the UPI app?
During the IPO period, mandates for applications submitted between 4:30 PM and 10 AM will be received on the UPI app once the IPO market is open, between 10 AM and 4:30 PM on trading days.
IPO applications are not checked and submitted in real-time. This process can take anywhere from a few minutes to a few hours. Since the exchange may not accept applications after 4:30 PM, the applications collected on the last day after 3 PM are sent to the exchange on a best-effort basis. It is best to apply for the IPO before 3 PM on the last day.
Did you know? The IPO window for HNI investors closes at 4 PM on the last day of bidding.
To know more about applying for an IPO, see
How to apply for an IPO and how to stay informed of new ones?