Nowadays, IPO investing is a very popular way to build wealth. In this series, ProStocks offers its clients a free IPO investment opportunity. The trading platforms have been designed in such a way that investors find the process of IPO application very easy. They can make payment by UPI mode for an IPO application. All upcoming and ongoing IPOs are systematically listed in the ProStocks Star trading platform. If you get an IPO allotment then IPO shares directly credited into the ProStocks Demat account.
Prostocks does not charge anything for applying in an IPO through its trading platform. But you need to pay the amount of the IPO application when you get an allotment. And in case you can't get an allotment, your frozen amount in the bank account will soon be released.
The ProStocks Star Trading App makes it easier for investors to navigate the IPO application process, saving time and effort. And provides a seamless experience when they transfer securities and funds between the Demat account and the Trading account. So if you want to make IPO investments, follow the process.
If you approve the payment request, your IPO order will be successfully placed. You can check your IPO order in the order book or in the previous transaction history. If you wish to change the IPO order, you can only do so if the status of the order has not yet been finalised.
Investors can check the IPO allotment status from the given sources:
If you get an allotment then you also will be notified by E-mail and SMS. And you can check the number of shares allotted to you in your ProStocks Demat account.
If you don't want to use UPI payment service then you have an alternate option for investing in an IPO application, that is ASBA (Application Supported by Blocked Amount). So here you will get all the detailed process of IPO application through ASBA.
Step to Invest in IPOs with ASBA using ProStocks demat account
Detail Article on ASBA Process for IPO Investment >> Read
Note: Clients having accounts in that bank who are not offering paperless ASBA application or those clients who do not do online banking has to fill out the physical application and submit it to syndicate member for onward submission to client’s bank for blocking required amount in client ‘s bank account.
Last Updated on 7th Sep 2023
Yes, Prostocks provides direct IPO investment services to clients using the virtual UPI ID address. Currently, customers can subscribe to an IPO online on the Prostocks Star web portal. Applying IPO online with Prostocks is free at zero brokerage charges.
An individual can apply in IPO online with Prostocks using the UPI payment gateway facility for free.
Prostocks IPO Apply Process through UPI;
Prostocks customers can cancel the IPO application before the issue closes for a subscription. To cancel your IPO order, log in to the Prostocks account, go to the “IPO” page, tap on the “Modify” option, and cancel your IPO application order. There are no charges to cancel the IPO application in ProStocks.
You cannot invest in an IPO on the ProStocks mobile app. The broker currently provides IPO investment services on the ProStocks Star web browser compatible platform. Clients can purchase an IPO on the website using any BHIM UPI app or net banking app.
No, ProStocks IPO platform does not allow investors to apply in both BSE SME and NSE SME IPO. The Star Web IPO portal only provides access to the mainboard IPOs, to be listed on BSE and NSE. However, you can invest in SME IPO with ProStocks through the ASBA-based net banking process.
Selling IPO shares from the ProStocks demat account is exactly same as placing a normal share sell order. Once you have the IPO shares in the Demat account, you can place a stock sell order through the website or mobile app.
Log in to the ProStocks account on web or app, click on the IPO shares in your holdings, tap on sell, enter details (price, quantity, order type, etc.) and tap on the “Sell” option to place the sell order.
ProStocks users can buy an IPO without UPI using their net banking account credentials. It is an indirect way wherein a customer purchases an IPO through his bank’s net banking portal.
Steps to purchase IPO in ProStocks without UPI via ASBA net banking;
To invest in IPO, you need to have:
You can find ProStocks Depository Account Number from a welcome letter sent to you, back office software, your monthly demat holding statement or calling the ProStocks Customer care number.