Getting confused on how to apply for IPO in Upstox? Then I will be showing how you can do it in easy steps and under ten minutes with video tutorial.
In this article, I will explain to you how to apply for IPO in Upstox without issuing your cheque or pay money until stock is allotted to you by using online which is quick and easy for you.
Applying to IPO is now online which is quick and easy but this requires you to have a Demat Account with a stockbroker in India.
Also, opening a Demat account is easy now so you can open a FREE Demat account from your smartphone with India's one of the best broker.
Once you have been granted access to your Demat account then you are ready to apply for IPO online.
SEBI has made a facility called ASBA that is Application Supported By Block Amounts and the advantage of this method is that you are not required to submit a cheque or make payment until the IPO is allotted to you.
So if you had applied for an IPO for an amount of Rs.1,50,000 and allotted to you is only Rs.70,000 then immediately the balance of Rs.80,000 will be released back to your bank account on which you applied.
How To Apply For IPO In Upstox Using SBI Online Net Banking
Table of Contents
Follow below steps to apply for IPO using your Upstox Demat account and SBI Online Banking
- Login to you Demat account with Upstox Pro or Upstox Classic Pro
- Click on my account as shown in the above image (arrow pointing) which will open another page with details about your depositary details
- You can see CDSL number details from the image (blurred) screenshot which is required to apply for IPO
From the above link, you can check active IPO's which you can choose and apply
Once you Login to your SBI Internet banking then select e-Services and choose Demat Services (ASBA)
- Choose IPO (Equity / Rights) and click on this option which will open another page as below and click on Accept button once you read complete details
- In the next page, you will see active IPO available to apply so choose the IPO and click Go button to proceed to the next step
- Once you choose and click Go button then you will be directed to next page with all necessary details about the IPO and you have read and click accept button which will lead to next page as below screenshot
From the above option, you have to choose retail investor and read details, click the link to view transaction limit for the IPO
In the next page, you will be provided details about the quantity and your chosen savings account so click on select registered applicant
- Click on "If you have not added the applicant. Please click here to add a new applicant" link and enter your profile password then fill the details as shown in below image
- Once you have successfully completed adding new applicant details then you can come to apply page and choose the applicant and select the bid quantity, bid price and click apply
- Once you have completed all the steps then you will be provided an option to download acknowledgment and check the IPO application status with the registrar of the IPO company
With the above steps, you have completed applying for IPO through your Upstox Demat account and SBI Internet Banking
Specified IPO amount will be blocked in your bank account and the same will be deducted when you receive shares in your Demat account and if you have not been allotted then the blocked amount will be released back to your bank account.
How To Check IPO Status Online
Once you have sucessfully applied IPO in Upstox then you need to check the allotment status online you should know the registrar of the company who is offering IPO and even on the Bombay Stock Exchange website.
I will show you the steps to check the same from BSE and LinkinTime
How To Check IPO Allotment Status On BSE
- Login to BSE website from this link and select the issue name
- Once you have selected the Issue of company you have applied for IPO then enter the application number followed with PAN No and click the search button
- It will provide you details on your IPO whether you have received the allotment of shares or not
How To Check IPO Allotment Status In Link Intime India Pvt Limited
1.Login to Link Intime India Pvt Ltd., website to check the IPO status
2.Select the IPO company name from the drop-down list show as below
3.You can select to enter either your PAN card number, Application number or your Depositary Participant ID
4.Once you have provided all the details click submit button to see the status of your IPO
If you have been allotted the shares you will see confirmation image as below
If you have not been allotted shares then you will see the securities allotted and the amount adjusted as zero.
I will be updating this article to keep you updated about this topic on how to apply for IPO in Upstox. So check back for updates in this article.
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How To Apply For IPO In Upstox Pro Video
In this video you will learn how to apply for IPO using Upstox browser login followed with important steps to help you successfully complete the steps easily.
Initial Public Offer Questions And Answers (IPO FAQ)
In this section I will try to answer and clarify IPO questions and answers so that all of your questions will be answered in short.
How to buy an IPO online?
To bid online you need a Demat account which is linked to your PAN card so once you open a Demat account you can apply for IPO.
How do I apply for an IPO?
Choose an IPO that you want to apply for which is active and then choose internet banking or UPI payment gateway
Will money be deducted from my bank account when I apply for an IPO?
No money will be blocked and it gets deducted only when you get the allotment of shares into your Demat account else the amount will be released and available for your use.
I have more than one Demat account so can I apply in all of them?
IPO is applied based on your PAN card so even though you have multiple Demat accounts once you apply for an IPO in one of your Demat accounts you cannot apply from the rest of your Demat account because the process will get blocked.
But if your family members have their Demat account linked to their PAN card then there is a possibility.
Why is my bank account money on hold even if I have applied for an IPO through ASBA online?
ASBA means Application Supported by Blocked Amount so after you have successfully applied for IPO the amount will be blocked until you receive the allotted shares in your Demat account.
So once shares are allotted the blocked amount will be debited to your account and paid to the company and if you have not been allotted then the blocked amount will be released.
How to know whether IPO will benefit me in the future?
Before you apply for IPO I would suggest that you strictly do fundamental analysis and the industry in which the company is operating follows with the management so that you will have a clear idea about the IPO.
Because not all IPOs make big once they are listed in the secondary market.
How to apply for IPO offline?
To apply for IPO Offline, you should have a Demat account. Get IPO application from any broker or download online form BSE/NSE website.
Fill IPO application form with all related required details like bank account details, Demat account details, Pan Card No., cut off-price(higher side), etc.
Submit the IPO form to the bankers to the issue or your broker. Your saving account no itself ASBA account. Check your bank for the ASBA facility. Make sure that the total amount of the IPO is maintained in the account or else you won't be allotted shares.
Can I apply for an IPO after 5 pm?
If you have an internet banking facility and your Demat account linked to the same internet bank then you can apply even after 5 pm
Is it possible to apply for an IPO in the Indian stock market without a DEMAT account/share agent?
You cannot apply for an IPO without a Demat account because SEBI does not allow any such activity. So if you still do not have a Demat account you can open it immediately.
Can I apply for an IPO through my bank account which is not linked to my Demat account? (e.g. I have IIFL account with BOI, can I apply for IPO via HDFC)
Remember your Demat account will be important and the bank will just bridge the gap between your Demat account and the company registrar.
So you have do a small setup and assure you enter the right Depository Participant or Client ID.
I feel that applying IPO is one of the easiest way as compared to earlier conventional way where we need to approach our bankers physically and fill the application forms.
Using UPI we can even apply IPO through our smartphones, so I would suggest that you can make use of these technology and sucessfully apply IPO in Upstox.
Do you have more questions about this article on How To Apply IPO In Upstox? Then you can let me know your questions or more tips in comments.
NCFM, NISM certified and Technical Analysis trained Stock Market Trader, Investor and option strategist.