Applying ongoing IPO using FYERS Demat account through any Net-banking portal or UPI app has become quite easy using ASBA mechanism.
Kindly remember that an IPO can’t be placed directly through the trading platform. You need to apply through your bank that provides you with ASBA (Application Supported by Blocked Amount) facility.
When you apply through ASBA facility, funds equivalent to your bid are blocked in your bank account for the IPO. The funds will be debited on a successful allotment of shares.
The below process is almost the same across all the banks and the UPI app, who provides ASBA facility to retail clients.
- Steps to apply for IPO online:
- Log-in to your online Net-banking portal.
- Generally, you will find the option to apply for an IPO in the Investments/Demat section.
- Fill out the FYERS Demat account details as mentioned in the Back Office with bank account details to complete the process.
- On the successful verification, you will be led to select the IPO to invest in.
- Upon selection, enter the “Number of shares” and the “Bid Price”.
- You will receive the confirmation to your registered details on your bid is successfully confirmed by your bank.
Hurry up! Apply for the –
Happiest Minds IPO – Issue Period: 7 – 9 September, 2020.
Route Mobile Ltd IPO – Issue Period: 9 – 11 September, 2020.
For more information, you can get in touch with the Support or contact your bank for a detailed process at their end.