How many IPO application I can apply with SBI ASBA?

Note: SBI Online (NetBanking)has stopped 3rd Part ASBA application. Response from SBI "PAN of the applicant does not match PAN recorded in the selected Account in Bank's record. As per Regulatory guidelines, IPO applications can be done from self-account only."

YONO Lite SBI App is still offering 3rd Party ASBA Application. So you can install YONO lite on your mobile, use same user id and password as SBI Online Banking. Aftre login > Request > IPO> Apply IPO link and apply IPO online.

You can apply up to 5 IPO applications with SBI ASBA. Each application must be with a different applicant (i.e. unique PAN and Demat account number).
With this, you can apply IPO for your family member including minors, friends, your HUF account.

The benefit with SBI ASBA

• Can apply up to 5 applications per IPO.
• You can register applicants with SBI ASBA, so no need to add PAN, Demat information every time when applying for IPO.
• You need to manage a fund in one bank account only.

• Only 5 applications per IPO, in case you wish to apply more applications you need to have multiple SBI account or some other approach.
• In case you get an allotment, you need to manage bank transactions, as after selling share funds will go to individual accounts. You need to manage your financial books.
• When you apply for IPO, the SBI ASBA process asks for OTP every time. An OTP is 8 digits long. This additional security is a bit extra work compared to other bank's ASBA process.