How to modify an IPO bid on Zerodha

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You can revise an IPO bid on Zerodha at any time while the bid window is open, up to 5 PM IST on the closing day. Modifications are permitted for quantity, price, and (in some cases) the UPI ID. This guide covers when modification is permitted, how to do it in Zerodha Kite, and what happens to the UPI mandate when the block amount changes.

For the underlying withdrawal procedure see the withdrawal guide. For the bid submission procedure see the Kite web guide. For the UPI ASBA background see the wiki article. For a combined overview of modification and withdrawal see the modify-or-withdraw guide.

What you can and cannot modify

SEBI ICDR Regulations 2018 and the exchange bid-modification rules permit and prohibit the following:

FieldCan modify?Notes
Lot quantity (upward or downward)YesThe block amount changes; re-approval of mandate required
Bid price (within the price band)YesThe block amount changes; re-approval required
Cut-off to specific price (or vice versa)YesTreated as a price change; re-approval required
UPI IDYes (if mandate not yet approved)Once the mandate is in Accepted state, the UPI ID is locked
Investor category (e.g., Individual to Shareholder)NoCategory changes require withdrawal and re-application
PANNoPAN is the primary identifier and cannot be changed
Issue (switching to a different IPO)NoWithdraw the current bid and submit a fresh bid for the other issue

Step-by-step procedure

Sign in to Kite and navigate to Bids, then Order history

Go to kite.zerodha.com and sign in with your client ID, password, and TOTP 2FA. Click Bids in the top navigation, then Order history in the sub-navigation. The order history page lists all your current and past IPO bids.

Locate the bid to modify

Find the bid card for the issue you want to modify. The bid card shows the issue name, investor type, bid quantity, bid price, UPI ID, and current status. Confirm the status is Mandate Pending or Mandate Accepted; bids with status Withdrawn, Rejected, or Allotted cannot be modified.

Also confirm the bid window is still open. The bid closing date and time are shown on the issue card on the IPO landing page.

Click Modify on the bid card

Click the Modify button on the bid card. The bid entry form opens, pre-filled with your current bid values (quantity, price, UPI ID). The issue name, investor type, and PAN are displayed but not editable.

Change the desired fields

Update the fields you want to revise:

  • Quantity, change the number of lots. The value must be in whole multiples of the lot size. The total application value must remain within the Rs 2,00,000 ceiling for the retail category.
  • Price, enter a new price within the price band, or switch to the Cut-off option.
  • UPI ID, only editable if the mandate has not yet been accepted. If the mandate is already in Accepted state, the UPI ID field is greyed out.

After making the changes, click Submit. Zerodha transmits the bid revision to the exchange.

Re-approve the UPI mandate if the block amount changed

After submitting the modification, check your UPI app for a new Block Funds for IPO mandate request (or an updated mandate notification). The mandate request appears in the Pending requests section of your UPI app. Review the updated block amount, confirm it matches your revised bid value, and enter your UPI PIN to authorise.

If the modification only changes the UPI ID (and the block amount is unchanged), no new mandate is required; the existing mandate continues.

For per-app mandate approval instructions:

Verify the updated bid status

Return to Bids → Order history on Kite. The bid status should progress to Mandate Accepted after the re-approval. If the status remains at Mandate Pending fifteen minutes after re-approval, refresh the page and check your bank’s app for the lien status.

Modifying a bid on the last day

Modifying a bid on the final day of the bid window carries additional risk because both the bid submission and the mandate approval must complete before 5 PM IST. As a guideline:

  • Submit modifications before 4:00 PM IST on the closing day to allow time for the mandate to propagate to your UPI app and for you to approve it.
  • If the mandate notification does not arrive within fifteen minutes of submission, open your UPI app and pull-to-refresh the Pending requests section.
  • If the UPI app does not show the mandate by 4:30 PM IST, open your bank’s own UPI app (YONO, iMobile, PayZapp, Axis Mobile, etc.) and check there, as bank-own apps can discover mandates independently of push-notification routing.

For issues with time-sensitive mandate approval, see the UPI mandate timeout guide.

Multiple bids within one application

Zerodha permits up to three bid lines within a single IPO application (by clicking Add bid in the modify form). When you modify a multi-bid application:

  • All existing bid lines appear in the form.
  • You can revise, add, or remove bid lines within the three-bid limit.
  • The mandate block is recalculated as the highest value among all bid lines.

What can go wrong

  • Modify button not visible. The bid window has closed, or the bid status is Withdrawn or Rejected. Modification is not possible.
  • Revised block amount exceeds bank available balance. If you increase the quantity, ensure the bank account has sufficient available balance before submitting.
  • Re-approved mandate rejected with U16 / ZD (duplicate mandate). Wait fifteen minutes, withdraw the current bid entirely, and re-submit a fresh bid.
  • Modification submitted but not confirmed before 5 PM IST. If the mandate for the revised bid is not approved by 5 PM IST on the closing day, the revised bid is rejected. The original bid, if it had a valid mandate, is also cancelled upon modification submission; you may lose both.

References

  1. SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018, Regulation 53 (Revision of bids), https://www.sebi.gov.in/legal/regulations/aug-2018/sebi-issue-of-capital-and-disclosure-requirements-regulations-2018_39971.html.
  2. SEBI Circular SEBI/HO/CFD/TPD1/CIR/P/2023/140 dated 9 August 2023, T+3 listing timeline.
  3. NPCI UPI 2.0 mandate specification, https://www.npci.org.in/what-we-do/upi/product-overview.
  4. How to modify or withdraw IPO bids, Zerodha Support Portal.

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