Pre-applying for an IPO is a way to apply for IPOs in advance, before they go Live. Once the IPO goes Live, you will receive a UPI mandate. Accept this to block the IPO application amount and successfully place your bid.
To pre-apply for an IPO, follow these steps:
Step 1: Login to Upstox using your 6-digit Pin or Biometrics and invest in IPO from the ‘Discover Tab’.
Step 2: Once you click on the IPO you wish to apply for, you will be able to see the Pre-apply option.
Step 3: You can also check the detailed information of an IPO by clicking on the Timeline.
Step 4: Once you click on the Pre-apply option, fill in the required details and click to continue.
Step 5: You can check the Pre-applied IPO application no. under status
Step 6: Your Pre- application for IPO will be created and you will see a UPI Mandate message stating the date on which you will receive UPI mandate notification to block your bid amount.
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: UPI notification would be sent via an SMS from your UPI app or it would be under the ‘Mandates’ section on your UPI app. Accept this to block the IPO application amount and successfully place your bid.
If you haven’t received the notification within 6 hours on the day the IPO has gone Live, you may need to delete your application and reapply for the IPO.
Step 7: In case you want to delete your Pre-application of an IPO, click ‘View More’ under status’ where you will be able to see the ‘Delete Application' option. You can delete your pre-IPO application anytime before the IPO closes.
To watch the Pre-apply IPO process on Upstox, see the video below: