Want to invest in LIC IPO through zerodha. Here is complete article on how to apply for LIC IPO in Zerodha. First you need Demat account with Zerodha. The LIC IPO will be available on the Zerodha website to apply when its open for subscription. To apply LIC IPO with Zerodha, firstly you have to create a one-time UPI ID on any UPI 2.0 enabled app and then follow these steps.