No, you don’t need open another Demat account with SBI to apply for IPO.
Just follow the following steps to apply for IPO through savings account with SBI and a demat account with zerodha:
So, you can easily book IPOs using any bank account mapped under your Zerodha demat.
Zerodha provides the best demat account in India with advanced trading platform and low brokerage:
Just follow the following steps to apply for IPO through savings account with SBI and a demat account with zerodha:
- Just Log in onlinesbi.com
- Select e-services from the top menu
- Go for Demat & ASBA services (You may get it in profile section also) *
- Select ASBA Services (IPO)
- Select IPO (Equity) or IPO(Debt)
- Now, select Apply IPO and accept the conditions stated there
- Now, you can see the name/s of company/ies active for IPO booking. Select one of your choice and click on Go
- The screen will display an Undertaking by ASBA Investor cum bidder and account holder and accept that
- Select a category (Individual)
- Now, you can select a Registered applicant if registered earlier. Otherwise, you have to click on ‘click here to add a new applicant’
- You will be taken to the page for Add IPO applicant details
- Enter profile password
- Enter Applicant Name, PAN, Select your Depository NSDL/CDSL (in case of Zerodha, it is CDSL)
- On clicking this you have to enter 16 digit beneficiary DP account No. (You will find it at Profile section at Console.Zerodha.com)
- Click on Add.
- Now you have to enter the No. of shares you wish to bid for (lot wise) and you will find the Lien Amount, money that will be kept blocked/reserved at your savings Bank account and you cannot withdraw the same until the allotment of shares happens. If you are awarded the allotment, the lien amount will be debited from your bank account and shares will be credited to your Demat account. Otherwise there will be no lien amount and you can see the same is credited to the total amount at your bank account.
So, you can easily book IPOs using any bank account mapped under your Zerodha demat.
Zerodha provides the best demat account in India with advanced trading platform and low brokerage:
Thank you for your post. This is excellent information. It is amazing and wonderful to visit your site.
ReplyDeleteTop Cheapest Stock Broker in India