Introduction

Applying for an Initial Public Offering (IPO) has become easier than ever, thanks to UPI apps in India. Investors can now bid for IPO shares seamlessly through their smartphones using UPI. But with multiple apps available, how do you choose the best UPI app in India for IPO applications? This blog will help you find the top UPI app that simplifies your IPO investment journey.

Understanding UPI and ASBA in IPOs

Before diving into the best IPO apps, let’s understand the two major payment methods for IPOs UPI and ASBA (Application Supported by Blocked Amount).

What is UPI?

Unified Payments Interface (UPI) is a real-time payment system developed by the National Payments Corporation of India (NPCI). It enables instant fund transfers between bank accounts through a mobile application. UPI provides a seamless and paperless way to apply for IPOs, reducing the time required for fund settlements. Since the process is entirely digital, investors can approve IPO mandates quickly and securely without relying on traditional banking methods.

What is ASBA?

ASBA (Application Supported by Blocked Amount) is a mechanism introduced by SEBI that allows investors to apply for IPOs without transferring funds upfront. Instead, the bid amount remains blocked in the investor’s bank account until the final IPO allotment. If shares are allotted, the blocked amount is debited; otherwise, it remains available for use. This method ensures that funds are not unnecessarily debited from the investor’s account before the allocation process is complete, making it a secure and structured approach.

Which One Should You Choose?

• UPI is ideal for retail investors looking for a fast, mobile-friendly, and paperless way to apply for IPOs.
• ASBA is a reliable option for investors preferring a banking-based method with fund security until allocation.
• Most brokers, including Jainam Broking Ltd, support both methods, allowing investors to choose at their convenience.

Best UPI Apps in India for IPO Applications

When applying for an IPO, using a reliable UPI app is crucial. UPI Apps (यूपीआई ऐप) facilitate secure and instant transactions in India, making it easy to transfer money and gain benefits like cashback. Here are some key factors to consider when selecting the best UPI app in India:

• Ease of Use: A user-friendly interface ensures a smooth experience.
• Bank Support: Check if your bank is listed in the UPI-supported banks list.
• Transaction Success Rate: A high success rate reduces the risk of payment failures.
• Security: Choose apps with multi-layered security to protect transactions.

Now, let’s look at some of the best UPI apps that support IPO applications.

Top UPI Apps for IPO Applications

Here are the top UPI apps that investors widely use to apply for IPOs:

1. Google Pay

• A trusted UPI app linked to major banks.
• UPI handle: @okhdfcbank, @okicici, @okaxis, etc.
• Integrated with multiple brokers for IPO bidding.

2. PhonePe

• Easy interface and high success rate.
• UPI handle: @ybl, @ibl, @axl.
• Strong security and smooth IPO transactions.

3. BHIM UPI

• Developed by NPCI for secure transactions.
• UPI handle: @upi.
• Supports most UPI-supported banks list.

4. ICICI Bank iMobile Pay

• Directly linked to ICICI accounts.
• UPI handle: @icici.
• Faster IPO payments via ASBA bank list.

5. HDFC Bank UPI

• Integrated with HDFC bank accounts.
• UPI handle: @hdfcbank.
• Part of the list of ASBA banks.

6. Kotak Bank UPI

• High security and quick IPO approvals.
• UPI handle: @kotak.
• One of the best IPO apps for Kotak users.

UPI Supported Banks List for IPO Applications

When applying for an IPO through UPI, your bank must be on the list of UPI banks that support IPO transactions. Here are some banks that allow UPI-based IPO applications:

List of UPI Banks Supporting IPO Applications

1. State Bank of India (SBI)
2. HDFC Bank
3. ICICI Bank
4. Axis Bank
5. Kotak Mahindra Bank
6. Bank of Baroda
7. IndusInd Bank
8. Yes Bank
9. IDFC FIRST Bank
10. Punjab National Bank (PNB)

If your bank is on this list of UPI banks, you can easily apply for an IPO through UPI payment apps.

ASBA Bank List: Banks Supporting UPI for IPO

Apart from UPI, some banks offer ASBA (Application Supported by Blocked Amount) services. The list of ASBA banks includes:

List of ASBA Banks for IPO Applications

1. HDFC Bank
2. ICICI Bank
3. SBI
4. Axis Bank
5. Kotak Mahindra Bank
6. Bank of Baroda
7. Yes Bank
8. IndusInd Bank

These banks allow IPO applicants to block funds in their accounts while applying.

How to Apply for IPO via UPI Apps

Applying for an IPO via the best IPO app is a simple process. Follow these steps:

Step-by-Step Guide to IPO Application via UPI

1. Login to your broker’s platform (like Jainam Broking).
2. Select the IPO you want to apply for.
3. Enter your UPI ID (e.g., yourname@upi).
4. Enter bid details and submit the application.
5. Approve the UPI mandate on your UPI app.
6. Funds will be blocked until IPO allotment.
7. If allotted, funds get debited, and shares are credited.

Conclusion

Selecting the best UPI app in India for IPO applications on Jainam Broking Ltd depends on various factors such as ease of use, security, transaction success rate, and bank support. Whether you prefer Google Pay, PhonePe, BHIM UPI, ICICI iMobile Pay, HDFC Bank UPI, or Kotak Bank UPI, Jainam Broking Ltd ensures a seamless IPO bidding experience. With a strong UPI-supported infrastructure, Jainam makes it easy for investors to apply for IPOs digitally without hassle. Choose a reliable UPI app, follow the step-by-step guide, and participate in IPOs confidently with Jainam Broking Ltd.

So, are you planning to Apply IPO? If yes, you are at the right place! 

Open a Demat Account with Jainam Broking Ltd. Now!