This article explains the process of how to apply for IPO through ASBA using State Bank of India.
With the Net Banking Option, even the physical form is also not required and an online IPO application can be done without any wet signature and completely online. Securities and Exchange Board of India (SEBI) has notified a list of banks through which online IPO can be applied which are known as SCSBs (Self Certified Syndicate Banks).
For applying for an online IPO an Investor has to follow the following steps:
Step 1. Login to your SBI netbanking and go to E-services tab.
Step 2. Click on Demat & ASBA from the left side menu
Step 3. Under ASBA services select IPO Equity
Step 4: Click on Agree and then select the IPO you wish to subscribe and hit Go
Step 5: Click accept. You will then see the details of the IPO
Step 6: If you are applying for the 1st time you need to register by entering the details like PAN. You will also need to enter the 16 digits “Demat Account” number where the shares will be transferred if the allotment is successful.
You can get the demat account number from SAMCO Star. After Login, on the top-right corner, click on the dropdown with the client’s name on it & select “My Profile” as shown below:
SAMCO Star Profile
This shall open a new window, where you can check the “Demat account number” or “DP ID” or “DP Beneficiary ID”. It would be a 16 digit number, which would be a combination of 8 digit DP ID (for SAMCO customers, this would be fixed at 12054200) and 8 digit DP Beneficiary ID which is unique for each client.
SAMCO Profile including your SAMCO Demat Account DP ID and BO ID.
Please enter “SAMCO Securities Limited” for DP Name, and your own name in case of “Beneficiary ID”.
Alternatively, the DP ID can also be taken from the transaction cum holding statement sent via mail by SAMCO Securities Ltd.
Step 7: Fill in the details like PAN, DP account, bid price, quantity etc and click on Submit and you are done.
Step 8. You can check the status by going to the IPO history tab
Watch this video to understand what is IPO