Rupeezy doesn't charge anything to apply for an IPO. Your application amount is only blocked in your bank account through ASBA — it's debited only if you're allotted shares, and only for the allotted amount.
Why doesn't applying cost anything?
An IPO application isn't a purchase at the time you apply — it's a bid backed by a block on your own funds, through the ASBA facility (see "What is ASBA?"). Since nothing is bought or sold until allotment, there's no brokerage or transaction charge to apply. If you're not allotted any shares, the block is simply lifted and the money is usable again, with nothing to refund.
What about UPI or bank charges?
Approving the UPI mandate when you apply for an IPO is a standard UPI authorization, not a payment — banks and UPI apps don't charge for it.
Things to keep in mind
- The blocked amount still sits in your bank account and continues to earn any interest it normally would, right up to allotment.
- Charges only start to apply once you own the allotted shares — regular delivery charges and taxes apply if and when you sell them, same as any other stock in your holdings.