You can apply for IPOs from 10:00 AM on the opening day until 4:30 PM on the closing day. If you submit your application during market hours, Zerodha processes it the same day. If you submit it outside market hours, Zerodha processes it the next day.
IPO application window
You can place orders during the standard IPO window from 10:00 AM to 4:30 PM on trading days. Zerodha also offers a pre-apply window that opens one day before the IPO begins, allowing you to submit applications early for convenience. However, applying early does not increase your chances of allotment.
You can modify your IPO applications only between 10:00 AM and 4:30 PM on trading days. Once you submit your application, Zerodha confirms it and sends it to the exchange, then sends a UPI mandate request to your UPI app.
UPI mandate
You must accept the UPI mandate by 5:00 PM on the IPO's closing day. If you submit your application after 4:30 PM, your UPI mandate will be processed the next day when the IPO window opens at 10:00 AM.
After you submit your IPO application, the National Payments Corporation of India (NPCI) sends the mandate request. If you don't receive the mandate request within an hour of successful application submission, delete and resubmit your application to avoid any delay.
Processing time
IPO applications are not processed in real-time and can take several minutes to a few hours. The exchange may not accept applications after 4:30 PM, so Zerodha sends applications collected on the last day after 3:00 PM on a best-effort basis.
We recommend submitting your IPO applications before 3:00 PM on the last day to ensure processing.
Did you know? The IPO window for HNI (High Net Worth Individual) investors closes at 4:00 PM on the last day of bidding.