Under ASBA since customers are required to block an amount, the customer can enter their UPI details while applying for the IPO. This will send a mandate to the UPI app, all the customer has to do is accept this and the amount will be blocked. Customer will have to accept this mandate before 5pm on closing date.

Usually, it can take up 24 hours to receive the UPI mandate as the application has to go through broker, exchange and NPCI. Please check back after 24 hours of order placement.

To apply for an IPO through ICICI Direct, please follow these steps:

1. Log in to your ICICI Direct trading account.
2. Navigate to the IPO section on the website or mobile app.
3. Select the IPO you wish to apply for from the list of open issues.
4. You can apply in either retail category (bid amount < 2lakhs) or HNI category (bid amount > 2 lakhs). Choose the category that align with your investment amount.
5. Select any one of the exchanges – NSE/BSE
6. Enter the bid details:

• Bid quantity (number of shares)
• Bid price (either at the cut-off price or a specific price within the price band)
• If bidding at multiple prices, use the Add Bid option to enter additional bids

1. Review the bid details carefully and confirm your IPO application.
2. Track the status of your IPO application under the IPO Order Book section.

Please note: Your IPO Application bids may be routed to another exchange in case there are issues in forwarding the bids to your chosen exchange.

The IPO application amount will be blocked in your bank account linked to the trading account.

After allotment, the shares will be credited to your Demat account, and the blocked amount will be debited for the allotted shares.

You can track your IPO application status by visiting the IPO order book.

1. Login to your ICICI Direct account

2. Head to IPO section

3. Open the IPO Orderbook. You will see a list of recent IPO applications and can check the status there.

If you have pre-applied for IPOs, the status will show as 'Under Process' untill the IPO opening date. Once the IPO is open and the order is sent to exchange, the status will change to 'Executed'. 

At ICICI Direct, you can apply for an IPO if your Corporate/partnership account belongs to any of the following categories: Private Limited, Public Limited, Trust, Body Corporates, Partnership registered, Partnership unregistered, Limited Liability Partnership.

Here are the steps to apply for an IPO from a Corporate Account:

1. Login to your ICICI Direct trading account

2. Navigate to the IPO section on the website or mobile app.

3. Select the IPO you wish to apply for from the list of open issues.

4. Go through the disclaimer and accept to proceed.

5. Corporate accounts can only apply with a bid amount of more than 2 lakhs (unless you are applying in the shareholder category) and hence, HNI category (>2 lakhs) will be auto selected.

6. Select any one of the exchanges – NSE/BSE

7.Enter the bid details:

• Bid quantity (number of shares)
• Bid price (a specific price within the price band). If you are bidding at multiple prices, use the Add Bid option to enter additional bids

8.Review the bid details carefully and confirm your IPO application.

9.Track the status of your IPO application under the IPO Order Book section.

Please note:

• Your IPO Application bids may be routed to another exchange in case there are issues in forwarding the bids to your chosen exchange. 
• Orders once placed cannot be cancelled or revised to a lower bid amount. Upwardrevision is allowed once your order status is executed.
• As per new SEBI guidelines, corporate accounts must apply for a minimum of 3 lots in SME IPOs.

Yes, an investor can apply in the retail section of an IPO through i-Direct Portal even if he has a 2-in-1 account with us.

Please Note: 2-in-1 customer can bid only upto Rs.5,00,000 under HNI category

A single PAN or Demat account cannot be used for multiple IPO applications. 

If multiple applications are submitted using same PAN or Demat account, all applications will be rejected.

However, you can apply on behalf of your family members, provided each family member has their own Demat account and PAN.

In cases where issue is over-subscribed, bidding for more than 1 lot from the same account doesn’t help as maximum of only 1 lot can be provided against each application. However, if the investor applies for 1 lot from different accounts, the probability of allocation of shares increases. 

The IPO timeline is as follows: If IPO closes on T Day, then allotment will happen on T+1 working day and funds unblocking will happen on T+2 working day.

If IPO is not allotted, the funds will be released and you will an receive an SMS for the same. You can also check your ‘Free Bank Balance’ in ‘Manage Funds’ section on ICICI Direct App or by logging in to iMobile App.

In case there are issues in forwarding your application bid to your chosen exchange, we might route the orders to another exchange. Hence you have received confirmation from BSE despite selecting NSE while submitting the application.

As per regulatory guidelines, IPO applications placed in HNI category can not be cancelled/withdrawn and downward revision is not allowed.

Only upward revision is allowed for HNI IPO applications. For example, an application of Rs.3.15 lakhs can be revised to Rs.4.2 lakhs but cannot be revised to Rs.2.5 lakhs.

If you wish to do an upward revision of your HNI IPO application, here is how you do it on ICICI Direct website.

Step 1: Login to ICICI Direct Website and head to IPO Order book. Click on the ‘Revise Bid’ button.

Step 2: Change the quantity, price and click on submit button. The bid value should be more than original application amount.

Step 3: Check the bid details and then click on confirm. Your order is now revised!!

If you are not able to view IPO allotted shares in your demat, you can allocate the same by clicking on the ‘Allocate’ option on ‘Demat Holdings’ page.

Please follow the below steps if you want to modify the category from retail to HNI for IPO orders.

1. Login to ICICI Direct

2. Head to IPO section and go to 'order book'

3. Cancel your existing retail order and place a new order under HNI category( bid amount is greater than 2 lakhs under HNI).

Please note that, as per exchange regulations, cancellation and downward revision is not allowed for HNI Orders. Hence, the category modification from HNI to retail orders is not possible.

IPO applications placed under the Pre Open session i.e. before IPO start date, can be "Cancelled" anytime. In case you want to modify/revise your order, please cancel the earlier submitted application and palce a fresh application with revised details.

In case you don’t have a trading account with ICICI Direct, you can apply for IPOs by logging in to ICICI Bank net banking portal/mobile app.

Here are the steps to apply for an IPO from a Corporate Account:

1. Login to your ICICI Bank account and navigate to the ‘Invest& Secure’ option on the left panel.

2. Choose ‘e-IPO’ request and select your bank account that is linked to your Demat account

3. You will be able to see the account details. Select the investment category based on the type of your account.

4. Click on submit to receive the OTP to your mobile number.

5. Enter the OTP and validate. Once validated, you will be redirected to ICICI Direct IPO page.

6. Select the IPO you wish to apply for from the list of open issues.

7. Go through the disclaimer and accept to proceed.

8. Corporate accounts can only apply with a bid amount of more than 2 lakhs (unless you are applying in shareholder category) and hence, HNI category (>2 lakhs) will be auto selected.

9. Select any one of the exchanges – NSE/BSE

10.Enter the bid details:

• Bid quantity (number of shares)
• Bid price (a specific price within the price band). If bidding at multiple prices, use the Add Bid option to enter additional bids

11.Review the bid details carefully and confirm your IPO application.

12.Track the status of your IPO application under the IPO Order Book section.

Please note:

• Orders once placed cannot be cancelled or revised to a lower bid amount. Upward

revision is allowed once your order status is executed

As per exchange regulations, Corporates are not allowed to apply for IPOs using UPI facility.

No, IPO allotment is not guaranteed — it is conducted through a randomised lottery process managed by the registrar of the IPO. Even if you apply successfully, the decision on allotment depends on several factors:

How IPO allotment works:

a. Lottery system: In oversubscribed IPOs, shares are allotted based on a lottery among valid applicants.

b. Application category: Your chances may differ based on whether you apply under the retail, HNI/NII, employee, or shareholder category.

c. Demand vs. availability: The higher the oversubscription, the lower the probability of getting an allotment.

What you can do:

a. Apply at the cut-off price if you are eligible.

b. Ensure application details are accurate to avoid rejection.

c. Apply under the correct investor category.

Even after taking all the right steps, allotment is never assured — especially in popular IPOs where demand is very high.