Apply For IPO: For the stock market investors, the IPO offers a better chance of earning profits. The IPO has also started in the year 2021. In January itself, 3 companies have announced IPOs. Further companies are in this line. It is important for new investors to know how to subscribe for an IPO, as it is not the same as buying and selling securities listed directly in the trading account like common shares. Talking about the country’s largest bank, Stead Bank of India (SBI), it can easily bid for an IPO by following a few steps.
Stepwise apply for an IPO
- Log in to your SBI account through net banking.
- Click on e-Services.
- In this, click on Demat & ASBA (Application Supported by Blocked Amount) Services.
- Click on the option IPO (Equity / Rights) given under ASBA Services (IPO).
- Click on Accept under Apply IPO.
- On the next page, select the name of the company whose IPO to apply for. Then click on Go. Click Accept on the next page.
- Click on Individual in the Select Category.
- To fill the details in this, click on Select Registered Applicant next to the name of the applicant. If you have already added the details of the applicant, then add the applicant. If you have not added then below it If you have not added applicant. Please click here to add a new applicant. Profile password (of bank account) will have to be entered on the next page. After entering the password a page will open in which IPO applicant details will have to be entered.
- Fill in the application name and PAN number on the IPO applicant details page. PAN number has to be filled twice to confirm. After this, click CDSL as a depository.
- Beneficiary DP account number will be found in the profile section on your brokerage firm’s app or website. This is the demat number.
- Fill in any nickname of the applicant and click on Add.
- Now come back to the step selecting Individual. To fill the details in this, click on Select Registered Applicant next to the applicant name and select the applicant you have added.
- Information like applicant name, PAN will be filled.
- Select CDSL in the depository.
- After this, you will get to choose three bids i.e. Quantity (for which shares have to be bid), Price (the price at which the bid is to be made), fill it. If you select the cut off price, then the maximum value of the price band will be selected. However, on selecting the cut off price, you will be able to place only one bid.
- Choose your account from which to debit money.
- Click on submit.
(Note: Keep in mind that the application made after 2 pm will be processed only on the next working day.)
- On completion of the bid process, SMS will come to your mobile number that your application has been made. In this SMS, you will get the application number, through which you will be able to check whether the allotment has happened to you or not.