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How to apply IPO through Kotak Bank?

Published on Friday, August 31, 2018 by Admin | Modified on Monday, February 11, 2019

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How to apply IPO through Kotak Bank?

How to apply for an IPO through ASBA using Kotak Bank netbanking?

ASBA (Applications Supported by Blocked Amount) has made applying for IPOs easy. And that's why, since its introduction in 2018 by SEBI, ASBA has become popular among retail investors. ASBA offers many benefits to an investor like-

  1. Simple application procedure
  2. Ease to apply anywhere, anytime
  3. The application amount is not debited but blocked as lien. This amount earns interest

This article aims to explain the process to apply for IPO online using Kotak Bank netbanking.

How to buy IPO online in Kotak Bank?

Kotak 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 Kotak Bank

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

  1. Login to your Kotak Bank NetBanking Account
  2. Click on "More" tab on the top menu. Then click on "ASBA.
  3. Register as a Beneficiary
  4. Click on "Apply for IPO" on the left menu
  5. Select the IPO from the dropdown list and click "submit"
  6. Enter IPO details
  7. Verify and Confirm the details

Details of ASBA application from Kotak Bank

  1. Login to your Kotak Bank online account
  2. Visit www.kotak.com and and click on login button on the top-right side. In the next screen, login using your Kotak Bank CRN/ Customer ID and password. The CRN (Customer Relationship Number) is a 8 digit numeric code printed on your debit and credit card. Click on 'Secure Login', enter the OTP received on your email and mobile.

    apply IPO online

  3. Click on "More" tab on the top menu. Then click on "ASBA
  4. On your account page, on the top menu and click on "More" and then on "Online IPO (ASBA)", Click on "Apply for IPO" on the left menu.

    apply IPO online

    apply IPO online

  5. Register as a Beneficiary
  6. You need to register as a beneficiary in case you are already not registered. Click on 'Beneficiary Registration' on the left side menu of the page.

    apply IPO online

    Details like 'Investor CRN', 'Investor Name' and 'Investor PAN' will be automatically filled. You need to select-

    1. Depository Name- NSDL or CDSL
    2. Depository Participant- Kotak or Non Kotak. In case of non-kotak, you need to enter DP ID-Client ID
    3. Account Number

    Remember, your Demat Account number has 16 characters together, the 8 characters make the DP ID while the last 8 are Client ID. Click 'Next' after checking the 'terms and conditions' box.

    apply IPO online

  7. Check your details and click on 'Confirm & Submit'. Click on 'Go Back', in case you want to edit any details.
  8. apply IPO online

  9. Once your account is registered, you will be given a Beneficiary ID.
  10. apply IPO online

  11. Click on "Apply for IPO" on left menu
  12. Click on 'Apply for IPO' tab on the left side menu of the page. Select the beneficiary.

    apply IPO online

    Now select the IPO, you wish to apply for from the dropdown list

    apply IPO online

    Select your 'Investor Category' based on your investment amount. Click on 'Next'.

    apply IPO online

  13. Enter IPO details
  14. apply IPO online

    Here, 'Beneficiary Details', 'Account Details', 'Investor Details' and 'Issue Details' is automatically filled. Go through 'Issue Details' to understand the key requirements of the issue like minimum no shares, bid size, minimum and maximum amount, price band etc.

    You can enter up to 3 bids. Enter the number of shares you wish to bid for. Remember, every IPO has a minimum number of shares to bid for and if you want more you need to bid in multiples of that. So if the minimum number is 1200 then you can bid for 1200, 2400, 3600 etc.

    Another important consideration is on selecting the Cut Off Price. The cut-off price is useful in Book Building issues where you have to bid within a price range given by the company. 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, check the 'terms and conditions' box and click on 'Next'.

  15. Verify and Confirm the details
  16. On the next screen, you will be provided with all the details of the IPO to verify and confirm. Go through all the details. If you need correction on any detail, click on 'Go Back'. If everything is OK, click on 'Confirm & Submit'.

    apply IPO online

    Wait for the confirmation message to appear on screen. Your application is complete.

    You can view your IPO application details by clicking on 'View Application Details'. You can search by Date Range or enter your Application Number.

    apply IPO online

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

    To apply for an IPO through Kotak Bank net banking, one 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 Kotak Bank netbanking?

      Yes, Kotak Bank is a member of SSCBs (Self Certified Syndicate Banks). SSCBs are allowed by SEBI to accept online IPO applications from investors. If you hold a savings or current account (single or joint) with Kotak Bank and have a demat account then you can apply for an IPO using Kotak internet banking.

      Discuss this question

    2. How to edit ASBA IPO application in Kotak bank?

      You can edit an IPO application in Kotak bank with the following details-

      • Login to the bank. On your account page click on "More" and then on "ASBA"
      • apply IPO online

      • In the next screen, click on "View Application Details" under Transaction on the left side menu.
      • apply IPO online

      • Here you can search based on date of application or application number. Enter the date range of your IPO application and company name or enter your application number. Click on "Search".
      • apply IPO online

      • Next, you will be provided with a list of IPOs eligible for revision. Check the box and click on "Edit" next to it. You can only edit those IPOs where the bidding window is open.
      • apply IPO online

      • Edit your IPO application and click on "submit"

      Discuss this question

    3. How to withdraw ASBA IPO application in Kotak bank?

      Withdrawal of an IPO is only allowed while the bidding process is on. You can withdraw an IPO application in Kotak bank with the following details-

      • Login to the bank. On your account page click on "More" and then on "ASBA".
      • apply IPO online

      • In the next screen, click on "View Application Details" under Transaction on the left side menu.
      • apply IPO online

      • Here you can search based on date of application or application number. Enter the date range of your IPO application and company name or enter your application number. Click on "Search".
      • apply IPO online

      • Next, you will be provided with a list of IPOs eligible for revision. Check the box for the IPO you wish to withdraw and click on withdraw.
      • apply IPO online

      Discuss this question

    4. Can I apply for an IPO using Kotak Bank mobile app?

      Yes, you can apply for an IPO through Kotak Bank app. However, you need to contact the bank to get this facility activated in your app.

      apply IPO online

      Discuss this question

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

      The application amount is blocked or marked as lien when you apply for an IPO using kotak bank ASBA process. The blocked amount while applying for the IPO is released on the next working day of finalization of the allotment.

      Discuss this question

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

      Every investor can make one application. However, he can make up to three bids on the application.

      Discuss this question

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