IPO Requirements:
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Demat Account and Trading Account- You must have a Demat account and trading account to apply for an IPO. The Demat account is used to store the securities, and the trading account is used to transact in them.
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UPI ID / Net Banking- IPO applications are made via the ASBA (Application Supported by Blocked Amount) mechanism wherein the bid amount is blocked in your account. The funds are deducted from/unblocked in your bank account based on allotment. Hence to make your application, you must have a bank account with a Self-Certified Syndicate Bank and an active UPI ID or net banking.
Steps to Apply with UPI ID
Step 1. Log in to your online account with your broker
Step 2. Go to the IPO Application section and select the IPO you wish to apply for
Step 3. Fill in the required details such as investor type, bid quantity, bid price, etc
Step 4. Enter your UPI ID and Submit
Step 5. Approve the mandate request in your UPI app to complete your application
Steps to Apply via Net Banking
Step 1. Log in to your net banking website or mobile app.
Step 2. Go to the IPO Application section and select the IPO you wish to apply for
Step 3. Fill in the required details such as investor type, bid quantity, bid price, etc
Step 4. Allocate the required funds
Step 5. Submit your IPO application. The bank will then block the bid amount in your account (by marking a lien)
Learn more about applying for an IPO.