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Editorial Team
Quick AnswerFor pure IPO applications, Zerodha (Kite) and Groww offer the most seamless UPI integrations and cleanest interfaces. However, if you are applying for HNI categories (above ₹2 Lakhs) or SME IPOs, using your bank's ASBA (Net Banking) portal is vastly superior to any discount broker.
Applying for IPOs has never been easier thanks to discount brokers like Zerodha, Groww, and Upstox. All three platforms allow you to apply for Retail and HNI categories using a UPI ID. But which one is the best?
Zerodha offers a clean, robust IPO interface. It allows you to place bids offline (before the IPO opens) and automatically sends the UPI mandate to your app when the issue opens. You can easily track the mandate status. Verdict: Highly Reliable.
Groww is heavily optimized for beginners. Its UI simplifies the pricing bands and automatically selects the "Cut-off Price" to maximize your chances. Verdict: Best UI for New Investors.
Upstox provides detailed WhatsApp notifications regarding your IPO application and mandate status, which is a great feature for users who forget to approve the mandate on their UPI apps. Verdict: Best Notifications.
While brokers are great for Retail applications, if you are applying for high-value SME IPOs or Big HNI (bHNI) quotas, UPI mandates frequently fail or get stuck. In these cases, you shouldn't use your broker at all. Log directly into your bank's Net Banking portal and apply via ASBA. The funds are blocked instantly without relying on a third-party UPI app.
Zerodha and Groww are currently the top-rated apps for retail IPO applications due to their smooth UPI integrations.
You can apply from two different apps ONLY IF they belong to two different people (different PAN cards). If you apply from your Zerodha and your Groww account (same PAN), both applications will be rejected.
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