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.
How to apply for InvIT IPOs
On Kite app
- Tap on Orders.
- Tap on IPO.
- Select the REIT IPO from the ongoing list of IPOs and tap on Apply.
- Tap on Apply again and enter the UPI ID.
- Enter or edit the Quantity and the Price.
- Tap on the undertaking tick box and swipe the Submit button.
- Accept the mandate on the UPI app.
On Kite web
- Click on Orders.
- Click on IPO.
-
Click on
Apply.
- Enter the UPI ID.
- 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.
- Click on the undertaking checkbox and click on Submit.
- 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.
After you submit your application:
- Zerodha sends you an email requesting mandate acceptance on your UPI app
- You can accept the UPI mandate until 5 PM on the closing day of the REIT IPO
- The exchange sends you an SMS confirming your application by the end of the day
- You can verify your bid details on NSE and BSE
Things to keep in mind
- If you use an incorrect UPI ID or cannot receive a mandate request, you cannot delete your application, but you can apply using Netbanking ASBA. Your netbanking application will still be considered unique and eligible for allotment since you did not complete the UPI mandate step.
- There are no charges to apply for an IPO through Zerodha.