I do not have a Demat account. Can I apply for an IPO?
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- Updated On:24-Feb-2021
- Replies:1
Short Answer
Although there are ways such as ASBA facility of your bank that you can use to open an IPO without Demat Account. It is still advisable to have a Demat Account.
Detailed Answer
Yes, you can apply for an IPO and receive the shares through the physical form itself. You can easily apply for an IPO through the ASBA facility of your bank. However, it is recommended to get the shares in Demat form as the allotted shares through an IPO are only tradable in the Demat form.
If you looking to apply for an IPO having a security size of 10 crore INR or more, then it becomes mandatory to have a Demat account to apply for an IPO.
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Discussion (0)
Yes, you can apply for an IPO application under a minor or HUF's name, provided they have different PAN card numbers. Minors can open a Demat account with their parent’s PAN Card and bank account.
Stoxkart online discount broker also provides IPO investment facility to clients. The best part is that stoxkart facilitates both the Indian as well as NRIs to invest in IPO online.
Bangalore based online discount broker Groww was found in 2016 and provides plenty of trading and investment opportunities. Users can invest in mutual funds, currency, derivatives, equity, and more. the investment opportunities are backed with guidelines set by NSE, BSE, and SEBI.
5paisa happens to be the second largest stock broker in the country that offers plenty of benefits and features through its Demat and trading account. Some of which include low brokerage charges of 20 rupees, paperless account opening, free trading tools, research and trading advice for free, and much more.
ASBA stands for Applications Supported by Blocked Amount, which is an alternative payment method to apply for an IPO. Let's go through some more details on it.
Yes!, one can apply 1 Lot from different Demat accounts but they have to make sure that the other Demat account should not be mapped under their name or PAN Card. If one applies through 2 or more Demat accounts that are mapped under their name then all of the applications will get rejected.
Have you ever wondered id a minor can apply for an IPO? Yes, a minor can apply for an IPO given that he/she has a PAN card and a Demat account.
Investors looking to invest in mutual funds without a Demat account can invest through financial institutions, independent financial advisors, AMC, and online portals.
To buy and sell stocks in the Indian stock market, you will need a demat and trading account. A stockbroker is necessary to trade stocks because the broker will provide the trading account through which you will place your trades.
No, a Demat account is not required to invest in mutual funds in India. Instead, there are a number of other options, such as Asset Management Companies (AMCs) or offline distributors through which you can directly invest in mutual funds without opening a demat account.