How to Apply For an IPO Online?

Created by Rushikesh borade, Modified on Mon, 26 Feb at 2:56 PM by Rushikesh borade

You can apply for an IPO online in two ways - through brokers like Pocketful or internet banking. Let's understand each in detail.

How to Apply for IPO Online - Through Broker

Follow the steps mentioned below to apply for an IPO conveniently through a broker:

1. Login to your online account with the broker. If you do not have an online account, you need to register with your email and phone number and create an account.

2. Locate the IPO tab and go to the current IPO section. Select the IPO name from the current IPO list.

3. Enter the lot size or the number of stocks you want to bid for. Also, select the bid price. If you want to increase the chances of IPO allotment, prefer bidding at the cut-off price or the maximum price at the upper end of the price band.

4. Type your UPI ID in the next step and hit the submit button. You will need to approve the transaction on your UPI app, and your bid will be approved by the exchange.

5. Wait for the mandate notification in the UPI app. The application money will remain blocked until the IPO allotment date.

How to Apply For IPO Online - Through Internet Banking

Follow the steps mentioned below to apply for an IPO seamlessly through Internet Banking:

1. Log in to the Internet Banking account with your login ID and password.

2. Locate the ASBA (Application Supported by Blocked Amount) tab and click on it.

3. Click on the 'Apply IPO' tab and select the IPO from the IPO list.

4. Enter the applicant name and PAN. Also, enter the bid quantity and price and click on submit. If you submit the bid before 2 PM on a business day, the bid will be accepted on the same day. However, if you place your bid after 2 PM, the bid will be scheduled for the next day.