Can I apply more than one IPO application in my name from different saving bank accounts in same bank or different banks?

Short Answer

Only one PAN card can be used for one application. No matter how many different savings account details you might utilize, if there is the same PAN number in more than two applications, then all of them would be revoked.

Detailed Answer

Some certain guidelines and rules are laid down by the SEBI for traders and investors to apply for an IPO. These are strict rules to ensure that fluidity and transparency is achieved amongst all the people looking to invest in the particular IPO. Amongst the many rules, the most important one is that only one application can be submitted by a trader or investor for one IPO.

You cannot apply multiple applications for that same IPO as one PAN card is valid for one IPO application. No matter how many times you might apply for an IPO application using the same PAN number, all the applications would be canceled. You can change all the details, but then your PAN card number wouldn’t change, which would still lead to your application's rejection.

Tagged With: ipoipo applicationapply ipoinitial public offering
Categories: IPO Basics
Comments (0)
Related FAQs

How many IPO applications can I submit through online net banking from one bank account?

There are about 5 IPO applications that can submit through online net banking from one bank account. However, the number can change immensely from one bank to another.

Can I apply in an IPO through multiple applications on same name?

No, a person cannot apply for a single IPO more than ones. There are strict rules and regulations followed in this matter. However, his/her family members can apply for the IPO under their name provided they have a demat account and PAN number.

Can I apply an IPO application in the name of Minor or HUF?

Yes, you can apply for an IPO applciation under a minor or HUF's name, provided they have different PAN card numbers.

What is an IPO or Initial Public Offering?

IPO or Initial Public Offering is the process through which a private company goes public by offering its shares to the public for the first time.

Can a minor apply in IPO?

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.

Can we apply for an IPO online on Sunday?

Yes, you can apply for an IPO application on Sunday as well but through an online application. But, you need to keep few points in mind before doing that.

Which is best bank to open Savings account in India?

Looking into the interest rates, minimum savings required in the account, easy online facilities are few of the many options you should consider while choosing a savings account with any respective bank.

I do not have a Demat account. Can I apply for an IPO?

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.

Is it mandatory to have a Demat account to apply in an IPO?

Yes and no at the same time. Although you can apply for an IPO without a Demat Account in some cases, the allotted shares are tradable through a Demat Account, Thus, a Demat account is recommended for an IPO.

What is the difference Liquid funds vs. Savings accounts?

Based on return liquid funds outperform savings account by anything between, 2-4 % points which is 50-100 % higher return than the savings account. So, purely on the basis of returns investing in liquid funds seems a better option.