Open a demat account
You need a demat account to apply for IPOs. Compare current broker offers and open an account online.
Kotak Neo30 days ₹0 brokerage₹0 on API ordersOpen A/c
Dhan₹0 delivery brokerageOpen A/c
5paisa₹15 per orderOpen A/c
AC Agarwal₹4 per orderOpen A/c
RMoney₹999/month flatOpen A/c
INDmoneyInvest in global marketsOpen A/cReferral links — we may earn a fee. Not a recommendation.
Why you need a demat account for IPOs
Shares allotted in an IPO are credited to your demat account, so you need one before you can apply. Most brokers let you open it online in a few minutes with your PAN, Aadhaar (for e-sign) and a bank account.
Once it is active, you apply through your broker's app or your bank's net banking using UPI (ASBA): the application amount is blocked, not debited, and is released if you don't get an allotment.
Compare charges before choosing: some brokers charge a flat fee per order, others a monthly plan. Applying for an IPO itself is free with most brokers.
Frequently asked questions
Can I apply for an IPO without a demat account?
No. Allotted shares are credited to a demat account, so you need one linked to your PAN before applying.
How long does it take to open a demat account?
With online KYC (PAN, Aadhaar e-sign and bank proof) most accounts are active within a day, often within hours.
Is there a charge for applying to an IPO?
Most brokers do not charge for IPO applications made through UPI. Brokerage applies only when you later sell the shares.
Can I apply for an IPO from more than one demat account?
Only one application per PAN is valid in a category. Family members with their own PAN and demat account can apply separately.