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Best Broker for IPO in India: Top Picks for Seamless IPO Investing

Upstox

Best for Beginners, Free Account Opening, & Saves from high brokerage fees.

best broker for ipo in india

Do you need the best broker to IPO in India but you are lost in a pool of options? There are so many brokers who offer easy application with IPOs, cheap fees and strong platforms so choosing the best one is difficult. As a first-time investor or an experienced trader, the right IPO investing broker will ensure that your investing experience is smooth, efficient and profitable.

This guide compares the best brokers to invest in IPO in 2025 based on the latest information published in reputed sources of the industry such as Chittorgarh, SEBI, Forbes India, and Finology Select. We will be noting the differences, costs and benefits of each, particularly the reason why Upstox is the best choice among IPO investors this year.

Top 7 Brokers for IPO in India (2025)

RankBrokerAccount OpeningDemat AMCIPO ApplicationKey Features (2025)
1Upstox₹0₹0UPI, ASBAFast IPO process, real-time status
2Zerodha₹200₹300UPI, ASBAReliable platform, low brokerage
3Groww₹0₹0UPIUser-friendly, free delivery
4Angel One₹0₹0UPI, ASBAWide research, all-in-one app
5ICICIdirect₹0-₹975₹300-₹700ASBA, NetbankingFull-service, strong support
6HDFC Securities₹999₹750ASBA, NetbankingTrusted brand, research reports
75paisa₹0₹300UPI, ASBALow-cost, tech-driven

Upstox: The Best Broker for IPO in India 2025

Best Broker for IPO in India: Top Picks for Seamless IPO Investing : TheShareBrokers

What Makes Upstox #1 for IPO Investors?

Upstox has rapidly climbed the ranks to become one of the most preferred brokers for IPO applications in India. Here’s why Upstox is the top choice for IPO investors in 2025:

  • Zero Account Opening and Demat AMC Charges: Start investing in IPOs without paying any account opening or annual maintenance fees.
  • Seamless IPO Application Process: Apply for IPOs directly from the Upstox app or website in just a few clicks. Enter your UPI ID, select the lot size, and approve the mandate—no paperwork needed.
  • Real-Time IPO Subscription Status: Track your IPO application status and get live subscription updates right inside the app.
  • Revamped IPO Experience: In 2025, Upstox introduced a new IPO experience for Android and iOS, making it even easier to access insights, apply as an HNI, and monitor real-time data.
  • Advanced Trading Tools: Upstox Pro offers instant order placement, chart-based trading, and the latest option chain analytics for active investors.
  • Wide Range of IPOs: From mainboard to SME IPOs, Upstox covers all active and upcoming IPOs, giving you maximum investment opportunities.
  • Trusted by Millions: Upstox is consistently ranked among the top 5 brokers in India by active clients, with a strong reputation for reliability and customer support.

How to Apply for an IPO on Upstox (Step-by-Step)

  1. Log in to your Upstox account on the app or website.
  2. Go to the IPO section and select the IPO you want to apply for.
  3. Enter details: Choose lot size, enter your UPI ID, and set the price.
  4. Approve the UPI mandate on your UPI app.
  5. Track your application status in real time.

Other Top Brokers for IPO in India

Zerodha

Zerodha best discount broker in India
  • Low Brokerage: Equity delivery is free, and intraday trades cost ₹20 or 0.03% per order.
  • Easy IPO Application: Apply via UPI through the Kite app or Console.
  • Strong Platform: Known for stability and reliability, especially for active traders.

Groww

Groww Review, Stock Trading, Demat, Brokerage Charge
  • Zero Account Opening and AMC: No charges to start or maintain your account.
  • Simple Interface: Especially popular among new investors for its easy-to-use.
  • UPI-Based IPO Application: Quick and paperless process.

Angel One

Best Broker for IPO in India: Top Picks for Seamless IPO Investing : TheShareBrokers
  • Comprehensive Research: Offers detailed IPO analysis and recommendations.
  • Zero Account Opening Fee: No charges to open a Demat account.
  • All-in-One App: Invest in stocks, mutual funds, and IPOs from one place.

ICICIdirect

ICIC Direct demat account open full service broker
  • Full-Service Broker: Offers in-depth research, advisory, and a wide range of investment products.
  • ASBA and Netbanking IPO Application: Apply directly from your ICICI bank account.
  • Strong Support: Dedicated relationship managers for premium clients.

HDFC Securities

HDFC Securities Review, Margin, Demat, Brokerage Charges (updated)
  • Trusted Brand: Backed by HDFC Bank, known for its reliability.
  • Research Reports: Access to detailed IPO notes and market analysis.
  • ASBA and Netbanking: Direct application through HDFC Bank account.

5paisa

5Paisa Review | Margin, Demat, Brokerage Charges (updated)
  • Low-Cost Brokerage: Competitive rates for all types of trades.
  • Tech-Driven: Fast, app-based IPO application with UPI support.
  • Beginner-Friendly: Simple onboarding and support.

Comparison Table: Best Brokers for IPO in India 2025

BrokerAccount OpeningAMCIPO ApplicationEquity Delivery ChargesUnique Features (2025)
Upstox₹0₹0UPI, ASBA₹20/order or 0.05%Real-time IPO status, advanced app
Zerodha₹200₹300UPI, ASBAFreeReliable, popular with traders
Groww₹0₹0UPIFreeEasiest for beginners
Angel One₹0₹0UPI, ASBAFreeComprehensive research
ICICIdirect₹0-₹975₹300-₹700ASBA, Netbanking₹20/order or 0.55%Full-service, trusted brand
HDFC Sec₹999₹750ASBA, Netbanking₹20/order or 0.50%Trusted, strong research
5paisa₹0₹300UPI, ASBA₹20/order or 0.05%Tech-driven, low cost

How to Choose the Best Broker for IPO in India

When selecting the best broker for IPO investment, consider these factors:

  • Account Opening & AMC Charges: Look for brokers with zero or low charges.
  • IPO Application Process: Prefer brokers offering UPI-based, paperless applications.
  • Real-Time Status: Brokers like Upstox provide live updates on IPO subscriptions.
  • Platform Features: Advanced tools, research, and easy navigation matter.
  • Customer Support: Reliable support is crucial for resolving issues quickly.
  • Reputation & User Base: Top brokers have millions of active clients and positive reviews.

FAQs: Best Broker for IPO in India

1. Which broker is best for IPO in India in 2025?

Upstox is the top choice for IPO applications due to its zero charges, seamless process, and advanced app features.

2. Can I apply for IPO through UPI?

Yes, most leading brokers like Upstox, Zerodha, and Groww support UPI-based IPO applications.

3. Are there any charges for IPO application?

No, brokers do not charge any fee for IPO applications. However, standard Demat AMC or trading charges may apply.

4. Which broker has the fastest IPO allotment status updates?

Upstox offers real-time IPO subscription and allotment status within its app.

5. Can I apply for SME IPOs with these brokers?

Yes, Upstox and other top brokers allow you to apply for both mainboard and SME IPOs.

6. What documents are needed for IPO investment?

PAN, Aadhaar, bank details, and UPI ID are required for IPO applications.

7. Is Upstox safe for IPO investment?

Yes, Upstox is a SEBI-registered broker and follows all regulatory guidelines for investor safety.

8. Do I need to maintain a minimum balance for IPO application?

No minimum balance is required in your trading account, but your linked bank account must have enough funds for the IPO application.

9. Can NRIs apply for IPOs through these brokers?

Some brokers allow NRIs to apply, but the process may differ. Check the broker’s official site for NRI IPO application rules.

10. How do I track my IPO application status?

You can track your IPO status directly in the broker’s app or via the BSE/NSE IPO status page.

Conclusion: Why Upstox is the Best Broker for IPO in India 2025

Choosing the right broker is crucial for a smooth and successful IPO investing experience. In 2025, Upstox stands out as the best broker for IPO in India, thanks to its zero account charges, seamless UPI-based application, real-time status updates, and advanced trading tools. Whether you’re a beginner or a seasoned investor, Upstox offers everything you need to participate confidently in India’s booming IPO market.

Ready to invest in the next big IPO? Open your Upstox account today and experience the most streamlined IPO application process in India!

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