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How to apply IPO through ICICI bank?

Published on Monday, August 6, 2018 by Chittorgarh.com Team | Modified on Tuesday, July 9, 2019

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How to apply IPO through ICICI bank?

How to buy IPO online in ICICI bank?

ICICI Bank is one of the members of the SCSBs (Self Certified Syndicate Banks). SCSBs are allowed by the SEBI to accept online IPO applications from investors.

Steps to online IPO application through ICICI bank

The process to apply online for an IPO through ICICI internet banking involves following steps-

  1. Login to your ICICI NetBanking Account.
  2. Click on "Investments & Insurance" tab on the top menu. Then click on the Invest Online on the dropdown menu.
  3. Go to IPO "online box" and click on "Invest in IPO".
  4. Select your account number from the dropdown and click "submit".
  5. Enter and confirm your personal details and authorize your transaction.
  6. Select the IPO you wish to apply from the list and click "GO".
  7. Enter IPO details and click on "Submit".
  8. Verify and Confirm the details.

Details of ASBA application from ICICI bank

Login to your ICICI online account

Visit www.icicibank.com and click on login button on the right side.

apply IPO online

Click on "CONTINUE TO LOGIN" button on the next screen.

apply IPO online

In the next screen, login using your ICICI account user ID and password.

apply IPO online

Click on "Investments & Insurance" tab on the top menu. Then click on "Invest Online" on the dropdown menu.

On your account page, on the top menu, click on "Investments & Insurance" tab and then on "Invest Online on the dropdown menu.

apply IPO online

Go to "IPO online" box and click on "Invest in IPO".

In the next screen, click on "Invest in IPO" button under Online IPO section.

apply IPO online

Select your account number from the dropdown and click "submit".

In the next screen, select the account number from which you wish to apply and click "submit".

apply IPO online

Enter and confirm your personal details and authorize your transaction.

In this screen, some of your details will be auto-filled while you need to enter some details. Check the "terms and conditions" box and authorise the transaction using the grid printed on the backside of your debit card.

apply IPO online

Check and confirm your details by clicking "submit".

apply IPO online

Select the IPO

The next screen will provide you with a list of live IPOs at that time with important information like minimum quantity, price, start and closing date etc. Choose the IPO you wish to apply and click on "Go" next to it.

apply IPO online

Enter IPO details and click on "Submit".

Enter Investor name and other details. You need to select the "Investor Category";. Select "retail"; if you are investing below ₹ 2 lakhs and "NII"; if above ₹ 2 lakhs.

You can make up to 3 bids. Enter quantity of shares you wish to apply for. Every IPO has a minimum quantity of shares, also called market lot, to bid for and to bid more you need to do it in multiples of the minimum quantity. So if the minimum quantity is 15 shares then you can bid for 15, 30, 45 etc.

There is a checkbox for Cut Off Price. The cut-off price is useful in Book Building issues. Book building IPO issue unlike Fixed Price issue don";t have a fixed price. These issues have a price range determined by the company. Investors have to select a price within that price band. The company then decides on a price at the time of allotment and investors who have bidded for price equal to or above the decided price are allotted shares.

The cut-off price is an option given to retail investors. Opting for cut-off price means you are giving consent to buy the shares at the price decided by the company during allotment. It saves you from bidding race and ensures that you";re eligible for allotment at the price decided by the company.

After filling all the details, click on "Submit".

apply IPO online

Verify and Confirm the details.

The next screen will showcase all the bid details of the IPO you have filled to verify and confirm. Check all the details and confirm. You will get a success message on confirmation.

Eligibility- Who can apply for an IPO online through ICICI Bank netbanking?

To apply for an IPO through ICICI bank net banking, you should-

Be above 18 years

  • Hold a savings or a current account with the bank.
  • Hold single or joint account.
  • Have a demat account
  • Have Permanent Account Number (PAN).
  • Have sufficient funds for IPO.

FAQ's

  1. Can I apply online for IPO through ICICI netbanking?

    Yes, ICICI is a member of SSCBs (Self Certified Syndicate Banks). SSCBs are allowed by SEBI to accept online IPO applications from investors. If you are a savings or current account holder with the ICICI Bank and have a demat account then you can use ASBA method to apply for an IPO using ICICI netbanking.

    Discuss this question

  2. How to modify IPO application in ICICI bank once submitted?

    Yes, you can modify/edit/update your IPO application details online during the IPO bidding window. Revision is not possible after the closure of bidding process. To revise or edit details of an existing IPO in ICICI bank, take the following steps:

    • Login to ICICI netbanking account

      apply IPO online

    • On your account page, go to the top menu and click on "Investments & Insurance" and then on "Invest Online."

      apply IPO online

    • to "IPO online" box and click on "Invest in IPO".

      apply IPO online

    • Select your account number from the dropdown and click "submit".

      apply IPO online

    • Authorize your transaction by entering grid values.

      apply IPO online

    • on "Order Book" on the left side menu.

      apply IPO online

    • Click on the transaction id of the IPO and modify the details as required.

    Discuss this question

  3. Can I apply for an IPO using ICICI mobile app?

    No, ICICI mobile app currently doesn't provide IPO application facility.

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  4. How to cancel or withdraw an IPO applied using ICICI netbanking?

    You can cancel the IPO applied using ICICI netbanking, however cancellation or withdrawal of an IPO is only allowed before the end date of the IPO bidding. To cancel or withdraw an IPO, take the following steps:

    • Login to Internet Banking and click on "Investment" Insurance" tab available on the top menu.
    • apply IPO online

    • In the next screen, click on "Invest Online".
    • apply IPO online

    • Now click on "Invest in IPO" button available under "Online IPO" section.
    • apply IPO online

    • Select your account number from the dropdown and click "submit".
    • apply IPO online

    • "In the next screen, enter the grid values and click on "Submit."
    • apply IPO online

    • "Click on "Order Book" on the left side menu.
    • apply IPO online

    • Click on the Trans ID of the IPO you wish to cancel or withdraw.
    • Click on withdrawal application in the next screen.

    Discuss this question

  5. When is the application amount blocked for applying for IPO is released in ICICI bank?

    The application amount marked as lien is released in one working day after the allotment is finalized. If you are allotted shares then the amount will be credited to the company account else it will be unblocked.

    Discuss this question

  6. How many applications can I make while applying for IPO using ICICI netbanking?

    You can make only one application with three bids in that application.

    Discuss this question

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