Initial Public Offerings (IPOs) remain one of the most exciting ways to invest in companies at the ground level. Thanks to India’s booming fintech ecosystem, applying for IPOs has become easier than ever, all from your smartphone or web platform. Here are the top platforms you should consider for IPO investing in India this year.
Best Platforms for IPO Investment
Groww, India’s No. 1 stockbroker, is a popular investing and trading app. The process for applying for an IPO is a two-step procedure on the Groww app.
Retail individual investors, HNIs, employees, and shareholders (if a quota is available) can apply for an IPO on the Groww app with a pre-apply feature for early IPO submissions.
The IPO application process on Groww is designed to be smooth and fully digital. Investors can apply through UPI-based ASBA, select bid quantities, choose cut-off price options (for retail investors), and approve mandates directly within their UPI (GPay/PhonePe, etc.) apps. Investors can also check the IPO allotment status directly on the app once the allotment is out.
One of Groww’s biggest strengths is how it simplifies complex IPO data into an easy-to-digest format. Instead of requiring investors to go through lengthy prospectuses, the platform presents essential insights in a structured layout, including
- Application details (issue size, lot size, price band, bidding dates, investment required, allotment and listing dates)
- Company overview,
- Real-time subscription data
- Strengths and risks,
- Revenue trends,
- Objects of issue (how the company plans to use the raised funds)
- For investors who want deeper analysis, Groww also provides access to the Red Herring Prospectus (RHP) directly within the app/website.
5Paisa
5Paisa is known for its cost-effective brokerage plans and accessible investment tools. Its IPO application feature is simple and easy to navigate, catering especially to price-sensitive investors.
While the platform may not offer as much research depth as full-service brokers, it delivers all essential information needed to evaluate and apply for IPOs. For investors looking to minimise costs while maintaining functionality, 5Paisa is a practical choice.
Angel One
Angel One blends IPO access with strong research and advisory support. In addition to enabling IPO applications, the platform provides in-house research reports, expert analysis, and subscription insights. This makes it particularly valuable for investors who rely on professional recommendations before applying.
Angel One also offers a full-service ecosystem, including equities, derivatives, commodities, and mutual funds, making it a comprehensive solution for diversified investors.
HDFC Securities
HDFC Securities, backed by HDFC Bank, offers a similarly strong full-service brokerage experience. Investors can apply for IPOs through ASBA directly linked to their bank accounts.
The platform provides research insights, subscription tracking, and post-listing support. HDFC Securities is often preferred by investors who prioritise trust, established banking partnerships, and comprehensive service over ultra-low brokerage models.
ICICI Direct
ICICI Direct is a well-established full-service brokerage platform backed by ICICI Bank. It provides IPO applications along with comprehensive research reports, advisory services, and strong bank-broker integration. Investors with ICICI Bank accounts benefit from seamless ASBA integration and smooth fund blocking.
ICICI Direct is particularly attractive to traditional investors who value brand reputation, in-depth advisory services, and integrated banking relationships.
Paytm Money
Paytm Money integrates IPO investing within the broader Paytm ecosystem. Users who already use Paytm for payments and financial services find it convenient to extend their activity into IPO applications.
The app supports UPI mandates, displays live subscription figures, and offers updates on allotment results. Its all-in-one approach, combining stocks, mutual funds, NPS, and IPOs, makes it appealing to investors who prefer managing finances within a single app.
Tips Before You Apply
- UPI vs ASBA: Most platforms let you apply through UPI (fast, convenient) or ASBA (amount blocked in bank till allotment). Choose based on comfort.
- No Brokerage on IPOs: Most Indian brokers don’t charge brokerage for IPO applications, but check Demat account or AMC fees.
- Track Allotment: Platforms usually provide allotment status and refund tracking directly in the app.
Conclusion
When selecting a platform for IPO investment, consider factors such as ease of use, reliability during high-demand issues, research availability, brokerage structure, and bank integration. Most platforms today offer zero brokerage on IPO applications, but Demat maintenance charges and trading costs post-listing may vary. Additionally, ensure that the platform supports smooth UPI mandate approvals and provides timely allotment status updates.
