How to Apply for an IPO Through the Angel One App Using UPI
Published 2026-10-16 · Aadarna Stock Broking Pvt. Ltd.
Unofficial guide. Written by Aadarna Stock Broking Pvt. Ltd., an Authorised Person of Angel One Ltd., to help account holders. App screens and menu names change with updates, so follow the steps shown in your app. For official help, visit the support section of angelone.in.
Key takeaways
- You apply in the app, then approve a UPI mandate in your own UPI app to block the money.
- The UPI ID must be linked to a bank account in your own name.
- The money is debited only if shares are allotted; otherwise it is unblocked.
- Allotment is never certain, and listing prices can be above or below the issue price.
Applying for an IPO through a trading app takes only a few minutes, but missing one step, especially approving the UPI mandate, is the most common reason applications fail. This guide covers the general process in the Angel One app. For how ASBA and allotment work in more depth, read our article on [applying for an IPO with ASBA and UPI](/blog/ipo-application-asba-upi).
Screens change with app updates, so follow the current steps in the Angel One app or the support section of angelone.in. This guide does not suggest whether any particular IPO is worth applying for.
Before you apply
- Read the company's offer document, especially the risk factors. It is published on the SEBI and exchange websites.
- Check that you have a UPI ID linked to a bank account in your own name, and enough balance in it.
- Note the issue's closing date and the deadline for approving the UPI mandate.
General steps in the app
- Log in to the Angel One app and open the IPO section.
- Select the open issue you want to apply for.
- Choose your investor category, usually individual or retail.
- Enter the quantity in lots and your bid price. Many investors choose the cut-off price option where available, which means accepting the final issue price.
- Enter your UPI ID.
- Review and submit the application.
- Open your UPI app and approve the mandate request.
- Return to the Angel One app and check that the application status shows the mandate as accepted.
If you do not see the mandate request, check the pending requests section of your UPI app, and make sure the UPI ID you entered is correct.
After the issue closes
- Allotment is decided by the registrar according to the offer document. For oversubscribed issues, retail allotment is usually by a lottery-style process.
- Check allotment status in the app, on the registrar's website or on the exchange websites using your PAN.
- If allotted, shares are credited to your demat account before listing day, and the blocked amount is debited.
- If not allotted, the block on your bank account is removed. If it still shows blocked well after the allotment date, contact your bank first.
Common mistakes
- Not approving the UPI mandate before the deadline.
- Using a UPI ID linked to someone else's bank account.
- Applying more than once under the same PAN in the same category.
- Not keeping enough balance for the blocked amount.
Keep perspective
An IPO is an investment in a company like any other share, with the same risks. Popular issues can list below their issue price, and allotment is never certain. Apply only with money you can afford to invest, and only after reading the offer document.
Frequently asked questions
Is my money debited when I apply?
No. It is blocked in your bank account through ASBA and debited only for the shares allotted.
Can I modify or cancel my IPO application?
Usually yes, while the issue is open. The app shows the options available for your application.
Can Aadarna apply for an IPO on my behalf?
No. You apply and approve the UPI mandate yourself. We can explain the steps, but we never handle your money or ask for your UPI PIN.
Sources
- Angel One help – IPO applications and allotment
- SEBI investor website – applying in IPOs through ASBA
Risk disclosures on derivatives
- 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
- On an average, loss makers registered net trading loss close to ₹50,000.
- Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
- Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Source: SEBI study dated January 25, 2023 on "Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment", wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.