Best Demat Accounts for IPO Investing
Compare India's top stock brokers. Read our in-depth, unbiased reviews to find the perfect Demat account for applying to Mainboard and SME IPOs.
Zerodha
India's largest discount broker with the most reliable trading platform, Kite.
Groww
The fastest growing investment app in India, highly popular among millennials for its clean UI.
Upstox
A leading discount broker offering a powerful trading terminal and zero-brokerage mutual funds.
Dhan
A technology-first broker built specifically for super traders and long-term investors.
ICICI Direct
A premium full-service broker offering a seamless 3-in-1 account (Bank + Demat + Trading).
Angel One
A hybrid broker offering the pricing of a discount broker with full-service advisory.
5paisa
A leading discount broker offering flat fees and extensive API support.
How to Choose the Best Stock Broker for IPOs in 2026
Applying for an IPO requires a valid Demat account and a Trading account. With the rise of discount brokers in India, applying for an IPO has become completely digital and seamless using UPI. Here is what you need to consider when selecting the best demat account for your IPO investments.
Zero Brokerage on IPO Applications
Most top discount brokers (like Zerodha, Groww, and Upstox) do not charge any brokerage fees when you apply for an IPO. You only pay standard DP (Depository Participant) charges when you sell your allotted shares on the listing day.
Pre-Apply Feature
Many modern stock brokers now offer a 'Pre-Apply' feature. This allows you to submit your IPO application even before the issue officially opens for subscription. The broker automatically sends the application to the exchange once the subscription window opens.
Seamless UPI Integration
Ensure your broker has flawless integration with major UPI apps (GPay, PhonePe, BHIM). A delayed UPI mandate request is the most common reason retail investors miss out on applying for highly anticipated IPOs.
Can I apply for an IPO from multiple brokers?
No, you cannot apply for the same IPO multiple times using different broker accounts if they are linked to the same PAN card. Multiple applications using the same PAN will result in automatic rejection of all your applications.