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How to Invest in IPOs Online

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How to Invest in IPOs Online

IPO Application via UPI

UPI option is compulsory only for offline physical forms. After UPI confirmation, one need to accept the mandate on their UPI App (Via BHIM or Bank UPI Mandate).

Those who are applying IPO online can do it via trading portal or ASBA. No change for investors who are applying online.

UPI mode of payment is applicable only up to 2 Lakh of application amount, in case you are applying for more then Rs 2 Lakhs, you need to apply via ASBA.

You need to submit an application to apply in Initial public offering (IPO). Nowadays, an IPO process is getting more mature day by day. In the past, an IPO process was taking 2 months with lots of paperwork. Your application money was blocked for months even though you get the allotment or not. But now the process is much smoother. Now the maximum IPO application is applied online and your money will be blocked in your bank account only. The money will deduct from your bank account when you get an allotment else to lock of your application money will release on the same day.

In this article, we are going to discuss in detail -

  • how to apply in IPOs online?
  • Which institutions support IPO investment?
  • What is ASBA Process?
  • What are the charges to apply in IPOs?
  • How to apply in IPO using UPI?

How to apply in an IPO?

    You can apply in an IPO via Online or Offline mode (physical form).

    1. With your netbanking service - ASBA Process.
    2. By submitting physical form to your bank branch.
    3. Brokers who are providing 3-in-1 service like ICICIDirect, Kotak Securities, Axis Direct, HDFC Securities, etc.
    4. By submitting physical form to your broker (Less prefered service).

What type of account do I need to invest in IPO?

    To invest in IPOs, you need a bank account and a Demat account. To sell the stocks in your holdings post IPO allotment process, you need a trading account.

What is the ASBA process and how its work in IPO investment?

    The full form of the ASBA is "Application Supported by Blocked Amount" procedure. The ASBA provides an alternative mode of payment. The application money remains in the investor's account till finalization of basis of allotment on the issue.

    Process flow to show how ASBA works:

    Online IPO Investment-ASBA Process

    • An IPO investor can apply in IPO using 2 modes.
      • The first mode is electronic application submission via ASBA.
      • The second mode is physical form submission at self-certified syndicate banks (SCSB) branches.
    • After submitting application, self-certified syndicate banks (SCSBs) will validate it with your PAN number. After validation, bank block the fund in investors account.
    • Now this application will upload on the NSE / BSE system via SCSB.
    • After this, the NSE / BSE consolidate all the requests and submit to the registrar.
    • The registrar then completes the allotment process (T* + 9 Days) [T* = Issue close day] and instruct SCSBs about:
      • Success of allotment, transfer money to issuers account, and shares are credited to Investors DP account.
      • Rejected/Unsuccessful application – release money back to investor’s account.

How can I apply online in IPO with my bank account?

    Most of the national banks in India provide forms to apply in IPOs. Under ASBA (Application supported by Block Amount) facility for applying IPOs, investors can apply in any public/rights issues by using his online bank account.  The list of ASBA participating bank are provided in below section.

    Lets see example how to apply IPO’s using ICICI online banking:

    • Login to with your net banking user id and password.
    • Then go to INVESTMENTS & INSURANCE > Invest Online
    • ICICI Bank Online IPO Investment

    • Then go to tab > IPO Online

      On this page you can see all open IPOs, select the IPO which you want to Invest.

    • ICICI Bank Online IPO Investment

    • You need to select your DP Type – CDSL or NSDL, provide your DP Account#, DP Name, Quantity, Price in Rs and Cut Off Price check box and then click on Submit button.
    • ICICI Bank Online IPO Investment

    • Once you submit, this page direct you to transfer fund in IPO account with the total amount of investment.
    • ICICI Bank Online IPO Investment- Fund Transfer

    • After performing fund processing, you can see status on Order Book. – E-IPO Order Book:
    • ICICI Bank Online IPO Investment- Order Status

    Similar process is available under investment option in online banking site of all major banks like SBI Online, HDFC Bank, AXIS bank, etc.

How can I apply in IPOs by submitting an application to bank branch office?

    Applying in an IPOs doesn't need a broker. You just need a demat account with any broker. Under ASBA (Application supported Block Amount) facility for applying IPOs, investors can apply in any public/rights issues by using their bank account.

    The steps to apply in IPOs using your bank account are as follows:

    • Go to the NSE / BSE website and check if your bank is part of the ASBA participating bankers to IPO. All major banks are part of this. The list of available ASBA participating bank branches are available on IPO detail webpage.
    • If your bank is part of SCSB, then download the blank IPO Application form. The form is available on same IPO detail webpage.
    • NSE Open IPO Forms Download

    • Fill the downloaded editable PDF with information like name of the applicant, PAN number, demat account number, bid quantity, bid price and other relevant details.
    • IPO Application Forms

      IPO Application Forms

    • Submit the application form at the designated branches of the bank in your town.
    • Find a sample form for applying in IPO. >>Download

    Step by Step guide to invest in IPO by submitting physical application form: >> Guide

Which banks provide ASBA facility in India?

    List of Self Certified Syndicate Banks (SCSBs) for Syndicate ASBA.

    Self Certified Syndicate Banks (SCSBs) for Syndicate ASBA

    Seq # Bank Name
    1 Allahabad Bank
    2 Andhra Bank
    3 Axis Bank
    4 Bank of Baroda
    5 Bank of India
    6 Bank of Maharashtra
    7 Barclays Bank
    8 BNP Paribas
    9 Canara Bank
    10 Central Bank of India
    11 Citibank
    12 City Union Bank
    13 Corporation Bank
    14 DBS Bank
    15 Dena Bank
    16 Deutsche Bank
    17 HDFC Bank
    18 HSBC
    19 ICICI Bank
    20 IDBI Bank
    21 Indian Bank
    22 Indian Overseas Bank
    23 Indusind Bank
    24 ING Vysya Bank
    25 J P Morgan Chase Bank, N.A.
    26 Janata Sahakari Bank
    27 Karnataka Bank
    28 Karur Vysya Bank
    29 Kotak Mahindra Bank
    30 Nutan Nagrik Sahakari Bank
    31 Oriental Bank of Commerce
    32 output.txt
    33 Punjab National Bank
    34 Rajkot Nagarik Sahakari Bank Ltdx
    35 South Indian Bank
    36 Standard Chartered Bank
    37 State Bank of Bikaner and Jaipur
    38 State Bank of Hyderabad
    39 State Bank of India
    40 State Bank of Mysore
    41 State Bank of Patiala
    42 State Bank of Travancore
    43 Syndicate Bank
    44 Tamilnad Mercantile Bank
    45 The Ahmedabad Mercantile Co-Op. Bank
    46 The Federal Bank
    47 The Kalupur Commercial Co-Operative Bank
    48 The Lakshmi Vilas Bank
    49 The Saraswat Co-operative Bank
    50 The Surat Peoples Co-op Bank
    51 UCO Bank
    52 Union Bank of India
    53 United Bank of India
    54 Vijaya Bank
    55 Yes Bank

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Stock Exchanges of India NSE And BSE provide separate platform for small and medium enterprises (SMEs) to go public by issuing IPOs  to raise equity capital for their growth and expansion.  These IPOs by SMEs are called SME IPOs.

Bombay Stock Exchange’s platform for SME IPO is called BSE SME Platform.

National Stock Exchange’s platform for SME IPO is called NSE EMERGE platform .

To Apply in SME IPOs you need to use ASBA facility.


No, you can not apply in IPO via call and trade facility.


The IPO allotment status on broker’s website is updated only after the shares are transferred to your demat account (usually a day before IPO shares listing). The shares in your demat account will then be available to you to sell them on date of listing at the respective exchanges.

You can check the IPO Allotment Status directly on the broker’s website. Usually, the steps are as follows:

  • Login to your account.
  • Go to IPO page and look for order book column and click on it.
  • Enter the required fields. Click 'View' button.
  • Find the IPO Allotment Status.


Applying in IPOs is completely FREE. You do not pay any fee, charges or taxes to apply for IPO shares.

However, you have to pay brokerage and taxes when you sell the shares allocated to you through IPO.


As you have a trading and demat account with the discount broker, you need to apply in IPO via ASBA. Log in to netbanking, under investment option, select invest in an IPO. Now you need to provide your demat account number. After allotment, your shares are going to deposit in your demat account. You can sell them from your discount broker trading account.


Currently only brokers who is providing 3-in-1 account are providing this service. As they are part of SCSB. The process to apply in IPOs online is simple and fast.

Steps to apply IPO online-

  • Login to your account.
  • Go to the IPO page.
  • Select the IPO you would like to apply for.
  • Fill the quantity and price and then submit your request.
  • Allocate the required fund.
  • Check the order book for application number and status.


User Reviews

2. Jitendra Feb 06 2018 09:57:00 AM Reply
While applying through ICICI bank, What should be DP name?
2.1. Sanjeev Feb 08 2018 10:48:54 AM
Hello Jitendra,

DP number is 16 digit number provided to you by your broker. So please refer your welcome kit or contact your broker to get your DP information.
1. Rama Y Jan 19 2018 10:36:06 AM Reply
Hi ,

Looking to Open an demat account.

1. Delivery purpose
2. Low brokerage
3. Online IPO facility
4. Online Bank Delivery of deviants, IPO refund money etc.
5. Prefer to do online transaction , on call support
6. Email alerts on the transaction from the demat account.

could you please advise and how many days it take to open an account. what are the required documents needed.

3.1. TSB Admin Jan 19 2018 10:37:15 AM
1. Delivery purpose - Zerodha, Upstox provide zero brokerage for delivery, Prostocks - Rs 15 per trade.
2. Low brokerage - Zero for delivery
3. Online IPO facility - IPO need to apply via bank only, no discount broker provide online facility, only bank like ICICI, HDFC provide this facility, but you can apply IPO via any syndicate bank net banking.
4. Online Bank Delivery of deviants, IPO refund money etc. - This will be via bank and money will credited directly in your bank account. You need DP account to apply for IPO.
5. Prefer to do online transaction , on call support - Zerodha/Upstocks - Rs 20 per transaction, Prostocks - Rs 10 per transaction.
6. Email alerts on the transaction from the demat account. - You will receive EOD contract note on transaction.