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

Short Answer

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.

Detailed Answer

The standard procedure of applying for an IPO is regulated to only one application for one IPO. However, applying to different IPO isn’t prohibited. But the prohibition comes into effect when you go through an IPO investment through ASBA.

Different banks allocate different rules and regulations regarding how many applications can be submitted through an IPO from a single bank account. Banks like SBI allow up to 5 applications, whereas ICICI allows only one bank account application. If the bank allows multiple applications to be made to an IPO, then the name can be different but requires a family, friends, or someone else’s name.

However, keep in mind that no matter how many applications you apply for, if the PAN card number is the same, no matter what bank account you use, the application will be revoked. Only one application can be submitted for one IPO.

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Categories: IPO Basics
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Related FAQs

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

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.

Can one apply an IPO from sweep in/out saving bank account?

There is no possibility of a user having a sweep in/out account linked to their IPO application. It would simply get rejected.

Can I apply IPO in name of family members & friends from my saving bank account?

Yes, you can apply for an IPO application for your family and friends through your savings bank account details. However, keep in mind that only five applications can be filled with the same bank account details.

Can I apply in an IPO from my current bank account?

There is no provision for users to apply for an IPO through a current account. They would have to choose a savings account to get an IPO applciation processed further.

How to apply IPO in Zerodha? Buy IPO Online

If you are a Zerodha customer, you can apply for IPO online through Zerodha Console (Zerodha Back-office). The process for applying an IPO process has been explained in detail above. Here are few other answers to important queries that you may want to learn.

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 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.

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 information should I keep after I submit the IPO application form?

There are few documents such as a photocopy of the IPO applciation, cheque copy, and the reference number of applciation if submitted online.