IPO investment in demat account can be a game-changer for your portfolio, but choosing the best demat for IPO investment can be quite a task. With so many brokers with different offers to meet different needs and charge different rates, how do you identify the right one for you to derive maximum IPO investment? While the IPOs activity is expanding at a record pace in 2025, the right demat account will be everything to help smooth applications and not miss out on opportunities. Our group of financial analysts understand the latest offerings, application success rates, structures of fee, as well as user experience to compile this in-depth guide for you. Whether you are a novice investor or want to change your broker, here is how this article will help you to choose the ideal demat account for your IPO investment voyage.
Is a Demat Account Necessary for IPOs?
- Yes, one has to have a demat account if he/she wants to apply for the IPOs in India. In accordance to SEBI regulations, IPO shares can only be allotted in electronic (dematerialised) form and these are credited directly into your demat account. If you lack a demat account, you cannot have shares that are doled out through an IPO, whether through payment or holding ideas.
- Recent Updates and Best Practices
- UPI Integration: Now most brokers accept UPI for IPO application, thus making the procedures easier and faster.
- Multiple Applications: Repeated application from the same PAN/de mat account will be rejected. In order to enhance allotment opportunities, relatives can apply from the respective demat accounts & PAN.
- Allotment and Listing: When given, the shares are credited in your demat account before the listing day after which you would be able to hold or sell your shares in the stock exchange.
Top 5 Demat Accounts for IPO Investment in 2025
1. Upstox
Upstox stands out as the premier choice for IPO investors in 2025, offering a seamless digital experience with remarkably high IPO application success rates. As one of India’s fastest-growing discount brokers, Upstox has revolutionized the IPO application process with its intuitive platform and competitive fee structure.
Why Choose Upstox: Upstox has consistently maintained a 98.7% IPO application success rate, significantly higher than the industry average. Their dedicated IPO dashboard provides real-time updates on ongoing and upcoming IPOs, along with detailed analysis and subscription status. For serious IPO investors, Upstox offers priority allocation features that can increase your chances of allotment in oversubscribed issues.
Key Features:
- Zero account opening charges
- IPO investment starting at just ₹100
- UPI-based instant IPO application process
- IPO reminder service with customizable alerts
- Pre-IPO analytics with detailed company fundamentals
- Real-time IPO subscription status updates
- 3-in-1 account integration (savings, demat, and trading)
- Free IPO application tracking through a mobile app
2. Zerodha
Zerodha continues to dominate the discount broking space with its focus on technology and transparent pricing model. For IPO enthusiasts, Zerodha offers a streamlined application process through its Kite platform, making it one of the best demat accounts for IPO investment in the current market.
Why Choose Zerodha: Zerodha shines with its lightning-fast IPO application system that typically completes the process in under 2 minutes. The platform’s clean interface removes confusion from the IPO application process, and its educational resources help investors make informed decisions about upcoming public offerings. With over 9 million customers, Zerodha’s reliability and track record speak volumes.
Key Features:
- Zero maintenance charges on inactive accounts
- Quick UPI-based IPO application
- IPO calendar with detailed company information
- Comprehensive pre-IPO analysis through Varsity
- Simplified IPO tracking system
- A console for checking historical IPO investments
- Free API access for developers
- Real-time market data integration
3. Groww
Groww has emerged as a powerful contender in the IPO investment space with its user-friendly interface and educational resources. Particularly appealing to new investors, Groww makes the IPO application process straightforward while providing substantial research material.
Why Choose Groww: Groww excels at simplifying complex financial processes, making IPO investments accessible even to complete beginners. Their platform integrates educational content directly into the IPO application flow, helping investors understand what they’re investing in. With a 97.3% application success rate and robust customer support, Groww provides confidence to novice IPO investors.
Key Features:
- Zero account opening and maintenance fees
- In-app IPO education center
- One-click IPO applications
- Integrated UPI payments
- IPO performance tracking
- Post-listing analytics dashboard
- Paperless account opening in 5 minutes
- 24/7 customer support for IPO-related queries
4. ICICI Direct
ICICI Direct offers a full-service broking experience with comprehensive research and IPO support. Their 3-in-1 account structure provides seamless integration between banking, trading, and demat services, making IPO applications particularly efficient.
Why Choose ICICI Direct: ICICI Direct stands out with its robust research team that provides detailed IPO analysis and valuation metrics. Their banking integration allows for instant fund transfers for IPO applications, eliminating payment delays that often cause application rejections. For investors who value research-backed IPO investments and are willing to pay a premium for quality service, ICICI Direct offers exceptional value.
Key Features:
- Integrated 3-in-1 account
- Expert research reports on upcoming IPOs
- Preferential allotment opportunities for premier customers
- Real-time application tracking
- Dedicated relationship manager for high-value investors
- Instant fund transfer from the linked savings account
- Comprehensive post-IPO performance analysis
- Multiple payment options for IPO application
5. Angel One
Angel One has transformed itself from a traditional broker to a fintech platform with special emphasis on IPO investments. Their SmartIPO feature has gained significant traction among retail investors looking for a reliable demat account for IPO investments.
Why Choose Angel One: Angel One provides a unique IPO Analyzer tool that helps investors evaluate potential returns based on historical data and market conditions. Their platform showcases a 96.8% application success rate with automated bidding features that optimize your chances of allotment. The broker’s extensive branch network also offers in-person support for investors who prefer guidance during the IPO application process.
Key Features:
- Smart IPO analyzer with allotment probability metrics
- Zero brokerage for delivery trading
- Automated IPO bidding system
- Angel One mobile app with IPO-specific features
- Multi-lingual support for regional investors
- Physical branches for in-person assistance
- Customizable IPO alerts based on industry preferences
- Detailed IPO performance history and comparison tools
Comparison Table of Best Demat Accounts for IPO Investment
| Broker | Account Opening Fee | Maintenance Charges | IPO Application Success Rate | UPI Integration | IPO Research Quality | Mobile Experience | Customer Support |
|---|---|---|---|---|---|---|---|
| Upstox | ₹0 | ₹0 | 98.7% | Excellent | Very Good | Excellent | 24/7 |
| Zerodha | ₹0 | ₹0 for active users | 98.2% | Excellent | Good | Excellent | Email + Chat |
| Groww | ₹0 | ₹0 | 97.3% | Excellent | Good | Excellent | 24/7 |
| ICICI Direct | ₹0-975* | ₹975/year | 97.5% | Very Good | Excellent | Good | 24/7 + RM |
| Angel One | ₹0 | ₹0-750* | 96.8% | Very Good | Very Good | Very Good | 24/7 + Branches |
Demat Account & IPO Investment
| Requirement | Mandatory for IPO? | Purpose |
|---|---|---|
| Demat Account | Yes | To receive and hold allotted shares |
| Trading Account | No (for applying) | Needed only to sell shares post-listing |
| PAN & KYC | Yes | For regulatory compliance |
| UPI ID (for payment) | Recommended | For online IPO application |
How to Choose the Best Demat Account for IPO Investment
- Evaluate Application Success Rate
- The rate of success of IPO applications is important because failures may bring about missed opportunities. Brokers such as Upstox -98.7% and Zerodha -98.2% have more success rate than the industry average of 93%.
- Consider Fee Structure
- Most of the discount brokers do not charge any fee to open an account, however, other costs like annual maintenance fees vary. Be mindful of:
- – Account maintenance fees
- – IPO application charges
- – Payment gateway fees
- – Physical contract notes charges.
- – Failure fee on IPO applicants
- Assess UPI Integration Quality
- The quality of UPI integration is essential with the command from SEBI on UPI in the retail IPO applications. Look for brokers with:
- – Multiple UPI app support
- – Quick mandate creation
- – Reliable notifications
- – Minimal technical failures
- Examine Research and Education Resources
- Good research resources can help with the decisions on IPO investments. Evaluate brokers on:
- – Depth of analysis
- – Historical performance data
- – Sector comparisons
- – Valuation metrics
- – Post-listing performance tracking
- Check Mobile App Functionality
- Over 80% of the IPO applications will be on mobile by 2025. Ensure the broker offers:
- – Dedicated IPO section
- – Push notifications
- – One-click application process
- – Real-time application tracking
- – Post-listing monitoring
Frequently Asked Questions (FAQs)
Which demat account is best for IPO investment in 2025?
Upstox currently offers the best overall package for IPO investors with its 98.7% application success rate, zero fees, and comprehensive IPO dashboard with analytics and tracking features.
Can I apply for IPOs without a demat account?
No, a demat account is mandatory for IPO applications as shares are only allotted in electronic form in India since 2019.
How much does it cost to open a demat account for IPO investments?
Most leading brokers, including Upstox, Zerodha, and Groww, offer zero-cost demat account opening in 2025, though annual maintenance charges may apply with some brokers.
Can I have multiple demat accounts for IPO applications?
Yes, you can open multiple demat accounts with different brokers and apply for the same IPO through each account, which may increase your chances of allotment in heavily oversubscribed issues.
What is the UPI limit for IPO applications in 2025?
As of May 2025, SEBI has increased the UPI transaction limit for IPO applications to ₹5 lakhs from the previous ₹2 lakhs.
How do I increase my chances of IPO allotment?
Apply through a broker with high application success rates, ensure sufficient funds in your linked account, verify your UPI ID before application, and consider applying in the retail individual investor (RII) category.
Do these demat accounts offer IPO funding facilities?
Some full-service brokers like ICICI Direct offer IPO funding options where they finance a portion of your IPO application amount, though this service typically comes with additional fees and interest charges.
How quickly can I sell IPO shares after listing?
You can sell IPO shares immediately on the listing day, though many brokers recommend setting up selling instructions in advance to execute trades at your desired price points.
Is there any difference in IPO allotment chances between different brokers?
While the allotment process is random and conducted by exchanges, having a reliable broker ensures your application is successfully submitted, which is the first step toward potential allotment.
Can NRIs invest in Indian IPOs through these demat accounts?
Yes, NRIs can invest in Indian IPOs through non-resident external (NRE) or non-resident ordinary (NRO) rupee accounts linked with their demat accounts, though certain restrictions apply.
Conclusion
Deciding on your best demat account for IPO investment will have a great influence on your investments and profits. From the thorough analysis performed by us, Upstox comes out as the best choice for all IPO investors in the year 2025, providing the best combination of availability, features, as well as the low cost involved. Their impressive application success rate of 98.7% and IPO-specific analytics platform mean that investors have a significant advantage in the cut-throat IPO market.
When speaking about your individual needs, it may be that you prefer other options such as Zerodha for its technology orientation, Groww for the educational offers, ICICI Direct for thorough research, or Angel One for both online and offline model. However, whether it is one platform or the other, just ensure that your choice is investment style, budgetary wise and technology friendly.
Thinking of investing in IPO? Open a demat account now and put yourself in the front-row to reap thrilling IPOs in 2025. Keep in mind that the early application and proper preparations will increase your opportunity to get allotment of IPO success in the future!
