If you wish to apply in an IPO online, you will have to open a Demat account or trading account with a financial institution that savors this facility. Most of the financial institution such as SBI, ICICI, HDFC, and PNB and other famous stockbrokers such as Angel or Sharekhan in India offers the facility to apply for an IPO online. Once your Demat account is open, you have to follow the below procedure to apply for an IPO online.
- Login to your Demat or trading account and choose the IPO in which you want to invest.
- Then transfer the money from your bank account to your Demat account.
- At last select the total number of shares you wish to apply for along with the price at which you wish to bid for. For this, you can use cut off option and at last press submit button.
If you get the share allotment, you will see the credit of shares in your Demat account and the remaining fund will be credited to your bank account through ECS. The easiest way to apply in any IPO online is by using a 3-in-1 account that is offered by banks such as ICICIDirect, Kotak Securities, and HDFC Securities. This process is extremely convenient and will just take two minutes.