I am new to IPO. Please share me the steps and guidelines in buying IPO’s through Zerodha Pi application. When to buy and when to exit or any other common tips would be helpful.
Thanks.
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jayaramc,
As of now you can not apply for IPO through Zerodha. Better option would be if you have Net Banking option and banker provides the ASBA Facility, it will be much is easier for you to apply.
When would this facility be available
To apply for an IPO, you need to do it via ASBA (Applications Supported by Blocked Amount), this blocks the amount in your account and will be deducted proportional to the allotment or completely released in case of no allotment.
There are two modes of ASBA;
Online: You can log in to your internet banking portal, and search for ASBA services or IPO.
In case of SBI, this is how it looks like
Select Demat & ASBA services.
And you will be able to see the open offers here. In the next step, you will be asked to fill in the personal and the bid details to complete the process.
Offline: You can also visit the branch and submit the ASBA form by filling in details such as Name, PAN Number, Demat Number, Bid Qty, Price and other necessary details and submit the form at the bank which has been designated to act as a Self Certified Syndicate Bank (SCSB).
E-ASBA: If your bank does not have an online platform, you can download the E-ASBA forms from the NSE website. So you can download the forms, fill them and submit them at your designated bank branch.
With the advent of core banking, it also doesn’t matter where your account is held, you can submit the forms at any branch in any city.
To apply for the IPO you need to know you demat number which you can be found in the profile section of your back office Q. You need to combine the DP ID and the Beneficiary ID. Your demat ID is a 16 digit number. Ex: 1208160012345678 (CDSL) or IN3009512345678 (NSDL accounts opened with Zerodha through ILFS).
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Thanks for detailed info. One quick question for confirmation - “Can we file IPO from any bank account irrespective of registered bank account with Zerodha?”.
For example… I have HDFC bank registered with Zerodha. If the required funds are available in SBI account, Can I file an IPO using SBI ASBA facility?
Thanks in advance.
Yes, you can. Make sure to use the correct DP ID, you can find your DP ID under the profile section of Q. 
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Detailed steps given on below link.
Kinldy check the below link
https://www.quora.com/How-do-you-buy-an-IPO-through-Zerodha/answer/Sourabh-Gandhi-10