IPO Application Help

We help with the application process — demat, UPI mandate, bidding. We don't tell you whether to apply.

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How an IPO application works

  1. Demat and trading account. IPO shares are credited to a demat account, so you need one in your name.
  2. Read the RHP. The red herring prospectus explains the business, the risks and how the money raised will be used. It is the main document for any issue.
  3. Bid within the price band. Bids are placed in lots during the subscription window, usually 3 working days.
  4. Approve the UPI mandate or ASBA block. Your bank blocks the bid amount. It is not debited yet.
  5. Allotment. If the issue is oversubscribed, retail allotment is usually decided by lottery. You may get shares, fewer shares, or none.
  6. Debit or release. If you get shares, only that amount is debited. Otherwise the block is released.
  7. Listing. Shares are credited and listed on the exchange a few working days after the issue closes.

Limits worth knowing

  • A retail individual investor can bid up to ₹2 lakh in a mainboard IPO. Above that, the bid falls in the non-institutional category.
  • Only one application per PAN is valid in a category. Multiple applications under the same PAN can be rejected.
  • Your UPI app has its own limit for IPO mandates. Check it before the window opens.
  • The listing price can be above or below the issue price.

What we help with — and what we don't

We help with

  • Opening a demat and trading account with our partner stock broker, if you don't have one
  • Placing your IPO bid and setting up the UPI mandate
  • Tracking allotment and refund status

We don't

  • Tell you whether to apply for any IPO
  • Comment on valuation, grey market premium or listing gains
  • Hold your money — funds stay blocked in your own bank account

How this service works

IPO applications are processed by a SEBI-registered stock broker we partner with. The partner broker may differ from one IPO to another; we will tell you which broker will process your application before you go ahead.

Meta Investment receives a fee from the partner broker for each IPO application facilitated.

We do not recommend whether to apply for any IPO.

Investments in the securities market are subject to market risks. Please read the red herring prospectus, especially the risk factors, carefully before applying.

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Frequently asked questions

Does Meta Investment tell me which IPO to apply for?

No. We help with the application process only. Whether to apply is your decision, based on the RHP and your own circumstances.

Who processes my IPO application?

A SEBI-registered stock broker we partner with. The partner may differ from one IPO to another, and we tell you which broker will process your application before you go ahead.

Does Meta Investment earn anything from this?

Yes. Meta Investment receives a fee from the partner broker for each IPO application facilitated.

Is my money debited when I apply?

No. The bid amount is blocked in your bank account through ASBA or a UPI mandate. Only the amount for allotted shares is debited; the rest is released.

Why didn't I get an allotment?

When the retail portion is oversubscribed, allotment is usually decided by lottery, so many applicants receive no shares.

How much can I apply for as a retail investor?

Up to ₹2 lakh per IPO. Bids above that fall in the non-institutional category.

Can I apply more than once in the same IPO?

Only one application per PAN is valid in a category. Multiple applications under the same PAN can be rejected.

Can NRIs apply?

NRIs can generally apply through eligible NRE or NRO-linked accounts, subject to the terms in each offer document.

I already have a demat account with another broker. Can you still help?

Yes. We can explain the application process for your existing account, or help you open one with our partner broker if you prefer. The choice is yours.

What documents will I need?

Generally your PAN card, a copy of your demat account's Client Master List or Report (CML/CMR), the UPI ID in your own name that you will use to approve the mandate, and your email address and mobile number. If you open a new account with our partner broker, it will also ask for standard KYC. You can choose how to share these with us when we get in touch, but please don't send them through this website's form.

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