The IPO application was a process that used to have to deal with paperwork, bank visits, and some manual processes. Today, investing on your cell phone is much simpler. Investors can learn about new issues, review key details, and place and manage orders on their phones. Since the advent of digital investing, several apps offer IPO applications in addition to stocks, mutual funds, and other investment products. Here are 10 platforms that can help you apply for an IPO easily.
1. Millions
Millions aims to make investing more accessible for novice and younger investors. The app consolidates stocks, mutual funds, SIPs, and IPOs on a single platform. It also enables users to apply for IPOs in a few taps and also keeps them updated on the status of their applications and allotment by means of notifications.
It has an easy-to-use interface and a goal-oriented approach. This is why Millions is in our list of new-age broker for Gen Z.
2. Zerodha
Zerodha provides IPO applications on its Kite app and web platform with UPI. Investors can choose to participate in an IPO or just enter the quantity and price before submitting the application and approving the UPI mandate. This keeps the application within the same investing ecosystem, reducing the number of platforms users have to switch between.
3. Groww
Groww also has a mobile-first strategy. Users can follow these steps: open the IPO section, choose the issue, fill in the bid details and UPI ID, and approve the mandate in their UPI app. You can also get updates on the Application on the IPO page. This simple flow can benefit investors making their first IPO application.
4. Upstox
Upstox offers a dedicated section for IPO-related activities, and investors can view open issues and apply directly from the Upstox website. This includes choosing the IPO, entering the lot size and price, providing a UPI mandate, and approving it via the payment app. On a known investing platform, you could find these steps to be more convenient for participating in an IPO.
5. Angel One
Angel One integrates IPO applications into its overall investment platform. Users can choose an IPO, enter their lot size, enter the bid price, enter their UPI ID, and approve the payment mandate. The site also has a pre-apply option for qualified future issues. This integrated approach may help users who want to use both application and research and investing tools.
6. ICICI Direct
ICICI Direct offers IPO investment opportunities through its website and mobile app. Users can choose an open issue, fill in the bid details, and follow the application process in the IPO Order Book. It can be helpful for those who already use ICICI Direct for their investment portfolio.
7. HDFC Sky
HDFC Sky provides an IPO dashboard for current, upcoming, and closed IPOs. Investors can select an issue, enter the lot size and price, provide their UPI ID, and complete the transaction through their UPI app. The platform also lets you monitor your application. Having all IPO information and applications in one place can make the process easier.
8. 5paisa
5paisa offers IPO applications online on its digital platform. Like other modern brokers, it lets investors complete the application online instead of filling out paper forms. However, users should consider ease of use when comparing platforms, along with brokerage fees, account fees, and other applicable costs.
9. Kotak Neo
Kotak Neo provides digital access to its IPO, mutual funds, equities and other investment products. Investors can avail information on IPO’s available, review key issue details and submit their application online easily. The integrated approach can simplify and make the IPO application process more convenient for investors who prefer to manage their market activities in one place.
10. Paytm Money
You can apply for IPOs on Paytm Money’s app or website. Investors can view the list of available issues, enter application details, apply via UPI or bank account, and monitor application status. The website also has a pre-apply option. For first-time investors, it may be easier to track applications, portfolio details, and IPO news on a single platform.
How to choose the right IPO app?
Not all easy platforms are the best for every investor. Don’t settle for an easy app to apply for IPOs; look at the overall experience first. Check whether the platform offers adequate IPO information, UPI/ASBA, an application tracker, transparent charges, notifications, and responsive customer support. It is also advisable to check whether the intermediary is properly registered.
Most importantly, remember that a simpler application process does not mean a less risky IPO. Investors may review the company’s business model, financial performance, valuation, risks, and offer documents before bidding.
Conclusion
Mobile investing has revolutionised how Indians invest in IPOs. Investors now have several options to fill out applications digitally, from Millions and Zerodha to platforms like ICICI Direct and HDFC Sky. The process can be as simple as ordering a meal, but investors should research the investment decision carefully. The process should be simple and convenient, but it should not replace due diligence.