How to Apply for an IPO Without Demat Account on 5paisa

Until now, IPO participation on most broker platforms was restricted to account holders. But 5paisa has just introduced a powerful new feature that opens IPO access to everyone—including those who don’t have a 5paisa trading account.

With this update, you can now browse, select, and apply for IPOs directly through 5paisa’s website, using your existing demat account. No login. No onboarding delays. Just a smooth, secure process that puts you just a few clicks away from your next IPO investment.

What Is the Guest IPO Application Feature on 5paisa?

The guest IPO journey is a new feature introduced by 5paisa that lets investors participate in IPOs without creating or logging into a 5paisa account. This means even if your demat account is not held with 5paisa, you can still place IPO bids using their platform. All you need is:

• A valid PAN number
• An active demat account (with any broker)
• A UPI ID for payment approval

This streamlined experience is especially useful for investors who want to act quickly on IPO opportunities without going through the time-consuming process of opening a new account. It also allows casual investors to participate in IPOs without committing to a full-service trading platform.

How to Apply for an IPO on 5paisa Without an Account: Step-by-Step

5paisa's guest IPO feature allows you to apply for public issues using any demat account, without needing to log in or open a 5paisa trading account. Here's a step-by-step guide to help you through the process:

Step 1: Visit the IPO Listing Page
Start by visiting 5paisa’s dedicated IPO page. This is where you can explore all active and upcoming IPOs. When you find an IPO you wish to invest in, click the “Apply” button next to it.

Step 2: Enter Your Mobile Number
Enter your mobile number on the screen. An OTP (one-time password) will be sent to this number for verification. Input the OTP to proceed.

Step 3: Enter Your Email ID and PAN
Next, enter your email ID and PAN (Permanent Account Number). Once these details are entered and confirmed, you can move ahead with the IPO application process.

Step 4: Provide Demat Account Details
In this step, you need to enter your full name and Beneficiary ID (BO ID), which links to your existing demat account. Other details such as depository participant and account type will be automatically fetched using your PAN. Review the information carefully, then click “Continue.”

Step 5: Place Your IPO Bid
On the bidding page, you can enter the number of lots you wish to apply for and choose your preferred price, depending on the IPO’s price band. If needed, you can add multiple bids. Enter your UPI ID, verify it, and then click on “Apply.” You’ll receive a UPI mandate request in your linked banking app—approve it to complete your application.

Step 6: Track or Manage Your Application
Once your application is submitted, you can track its progress, modify details, or even cancel the bid if required. To do this, either click the user icon at the top right of the IPO page or go directly to your IPO Order Book here: 5paisa IPO Order Book 

Why This Feature is a Game-Changer for IPO Investors

Here’s why this feature stands out:

• Quick and Hassle-Free Process: From browsing IPOs to placing a bid, everything happens in minutes. The process is built to be intuitive, with minimal input required.
• Use Your Existing UPI ID: No new bank linkage required. Just enter your existing UPI ID to authorise the transaction.
• Access All Mainboard & SME IPOs: Whether it’s a headline-grabbing mainboard IPO or a promising SME issue, you get full access through a single platform.
• Full Control Over Application: Even as a guest, you can track, edit, or cancel your IPO application before the issue closes.

Final Thoughts

5paisa’s guest IPO feature is a welcome move for retail investors looking for speed, flexibility, and simplicity. Whether you’re applying for your first IPO or diversifying your investment opportunities, this tool eliminates barriers and delivers a smooth user experience.

With just a few details and a valid UPI ID, you’re all set to participate in India’s evolving IPO landscape—no new account required.