In this post we will discuss how to apply IPO through Zerodha? Before coming to the main point lets discuss what are the pre-requisites.
- Zerodha demat account name
- Zerodha demat account account number
- PAN number
- Internet banking with full transaction rights
- Money in the bank account
In this post I will show an example of how to apply IPO through Zerodha with SBI netbanking. Please note your PAN number regsitered in the bank should match with the PAN number of demat account, else the IPO application will get rejected. So make sure you apply for IPO with own demat and own bank account.
Fist note down your Zerodha demat details from profile section of your Q backoffice in Zerodha.
Next login to your internet banking account. Here we will login to SBI netbanking. Once you are logged in click on Demat & ASBA Services. ASBA means Application Supported by Blocked Amount. It means the once you apply for an IPO the applied fund will remain in your account but will be blocked till the IPO is allotted to you. In case its allotted it will be finally deducted from your bank account OR if you do not get allottment for the IPO the fund will be unblocked and you can use the fund for other works.
Next click on IPO (Equity).
Now read the terms and conditions and click on Accept.
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In the next screen put your name, PAN number and confirm PAN number. While select your depository click on CDSL. Now put upto 3 bids and click on submit.
You can check and save your name, PAN number and depository details in the profile section of your netbanking for future usage so that you need not to put them again and again.
Next you need to confirm your bid for the IPO as shown below.
Once done the next screen will show you the IPO application final confirmation screen and will also reflect the amount of fund blocked for applying for the IPO.
Though in this post I have shown you the method to apply IPO through Zerodha with State Bank of India, you can apply the same method to apply IPO with any other brokers or bank.