Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps

• The UPI method of applying for REIT IPOs is not yet allowed by India’s market regulators.
• There are three types of IPOs that you could apply for – equity, bonds, and REITs.
• Mohit Mehra, business analyst at Zerodha breaks it down for us. Mehra added that REIT units are different from equity shares in terms of the underlying structure.
• Check out the latest news and updates on Business Insider.

As the ₹3,800 crore Brookfield REIT IPO opened, users turned to stockbroking apps like Zerodha, Groww, Angel Broking and others, only to not find the IPO listed in the apps. While users worried whether this was another downtime faced by the apps, the answer is actually quite simple.


The UPI method of applying for REIT IPOs is not yet allowed by India’s market regulators. There are three types of IPOs that you could apply for – equity, bonds, and REITs. For REIT issues, the UPI method is not yet live, for bonds it was taken live on January 1st, where brokers still have to build systems to take it live on their apps.


Mohit Mehra, business analyst at Zerodha breaks it down for us. “In the first REIT issue - Embassy, the minimum application size was for ₹2.40 lakh compared to the minimum application size of ₹55,000 for Brookfield. Although the limit for UPI IPO applications is ₹2 lakh, the system is not yet live by the exchanges. So, brokerages can’t offer it via UPI. SEBI may soon issue directions to take REIT IPOs live on UPI as it did for bonds,” he said.

Mehra added that REIT units are different from equity shares in terms of the underlying structure. “Investors should check the suitability of financial products in their overall portfolio before investing in them,” he said.

Here’s how you can apply for Brookfield REIT IPO

You can apply for REIT IPOs using your net banking. Per directives, every IPO bid should be backed by ASBA or Application Supported by Blocked Amount which allows the bank to block funds in the applicant's account for the application's value till the time the shares are allocated.

Most of the Syndicate Banks provide access to apply in Brookfield REIT IPO via the ASBA process. You must have your net banking access, DP ID information to apply for Brookfield REIT IPO via ASBA. Banks like Axis, SBI allow you to apply maximum 5 applications from one bank account. However, ICICI, HDFC bank has a limit of one IPO ASBA application per account.


Here's a detailed guide on how to apply for Brookfield REIT IPO through ASBA:

• Sign in to the net banking of your registered bank portal.
• Under the menu button, click on "Request".
• You will now be directed to a new page to apply for the IPO.
• Select the IPO you wish to apply.
• Enter the required details such as bid quantity and applicant information.
• Click submit after confirming the details.

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