Pre-applying for an IPO allows you to apply in advance, even before the IPO goes live. Once the IPO is live, you will receive a UPI mandate. Simply accept the mandate to block the application amount and confirm your bid.
To pre-apply for an IPO, follow these steps:
Step 1: Log in to your Upstox account using your 6-digit PIN or biometrics. Navigate to the ‘More’ tab and select ‘IPO.’
Step 2: Under the ‘Explore’ section, view all IPOs available for pre-application. Click ‘Pre-apply now’ for the desired IPO.
Step 3: Click ‘Pre-apply now, fill in the required details, and select ‘Continue to Apply’
Step 4: To check the status of your pre-applied IPO application, go to ‘View Application’
Step 5: After pre-applying, you’ll see a UPI mandate message indicating when you’ll receive the notification to block your bid amount. Accept the UPI mandate through your UPI app to successfully place your bid.
Note: As per the Exchange notice, the cut off time for UPI mandate acceptance is 5 pm on closing/last day of an IPO.
Also, keep in mind: The UPI notification will be sent via SMS from your UPI app or will appear under the ‘Mandates’ section of your UPI app. Accept the notification to block the IPO application amount and successfully place your bid.
If you haven't received the notification within 6 hours of the IPO going live, you may need to delete your application and reapply for the IPO.
