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How to apply IPO through SBI bank?

Published on Tuesday, September 4, 2018 by Chittorgarh.com Team | Modified on Tuesday, May 21, 2019

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How to apply IPO through SBI bank?

How to apply for an IPO through ASBA using SBI netbanking?

IPOs are a craze these days with retail investors. One of the reasons for this high participation from retail investors in an IPO is the relative ease with which people can apply for an IPO. Anyone who has a bank account and a demat account can apply for an IPO online. And it can be done in a few minutes. Moreover, under the ASBA facility, the application amount is not debited but only marked as a lien which helps you earn interest on it.

This article aims to explain the process to buy IPO online in SBI bank.


How to buy IPO online in SBI bank?

SEBI has notified a list of banks through which a retail investor can apply online for any IPO. These banks are called SCSBs (Self Certified Syndicate Banks). State Bank of India (SBI) is one of the members of the SCSBs which allows its account holders to apply for an IPO online through SBI netbanking.


Steps to online IPO application through SBI bank

The process to apply for an IPO through SBI internet banking involves following 6 steps-

  1. Login to your SBI online account
  2. Click on e-Services Tab
  3. Now click on 'Demat and ASBA services'
  4. Click on 'IPO Equity'
  5. Select the IPO you wish to apply from the list
  6. Enter IPO details
  7. Verify and Confirm the details

Details of ASBA application from SBI Bank

  1. Login to your SBI online account

    Enterwww.onlinesbi.com URL in your web browser. On the website, click on login on the personal banking section.

    apply IPO online

    On the personal banking page click on "Continue to login"

    apply IPO online

    On the login page, enter you netbanking User ID and Password

    apply IPO online

  2. Click on e-Services Tab

    In your accounts page, click on the "e-services" tab

    apply IPO online

  3. Click on 'Demat and ASBA services'

    Now click on 'Demat and ASBA services' in the menu appearing on left side of your screen.

    apply IPO online

  4. Click on 'IPO Equity'

    On the "Demat & ASBA Services" page, you will be presented with 3 sections- Demat Services, ASBA Services and Other Services. Under the "ASBA Services", click on "IPO Equity" and click on "Accept" after reading the terms and conditions.

    apply IPO online

  5. Now select the IPO you wish to apply from the list

    The IPO Equity-ASBA page will provide you with a list of companies issuing IPO at that time with open and closing date of bidding. Select the IPO you wish to apply and click on "Accept".

    apply IPO online

  6. Enter IPO Details

    The IPO page will have details on the IPO like minimum bidding quantity, price of each share, IPO open and closing date etc. It will also have a form wherein you need to enter applicant and IPO details.

    apply IPO online

    The first detail you need to enter is category. You need to choose from individual, employees or shareholders.

    The second detail to enter is the applicant. If you have added yourself as an applicant then select applicant name. Once the applicant is selected, other details like PAN and depository name will be automatically populated or filled.

    Enter other IPO details like quantity, bid price etc. There is also a checkbox for "cut-off" price. This option is available for retail investors and is useful in book building issues where instead of a fixed price, a price range is provided by the company. Investors have to bid within the range. Ticking on "Cut-off price" means that you approve to accept the allotment at the price decided by the company. This saves you from the bidding race and ensures that you don't lose on allotment due to lower bidding price.

    Enter the details and click on "submit".

    apply IPO online

    Once you click on the submit, you will be taken to the "IPO Confirmation Page". This page will have the list of IPOs successfully applied. Check for the "Name of the Company" you applied for, Lien Marked Amount and Lien Marked Status.

    If all details are OK then you have successfully applied for the IPO.

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

    You can apply for an IPO through SBI, if you-

    • Are above the age of 18 years
    • Are a savings or a current account holder in the bank
    • Hold single or joint account with the bank
    • Have a demat account with NSDL or CDSL
    • Have Permanent Account Number (PAN)
    • Have funds more than the application amount in the account

FAQ's

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

    Yes, you can apply for an IPO online through SBI netbanking as SBI is a member of SSCBs (Self Certified Syndicate Banks). SSCBs are allowed by SEBI to accept online IPO applications from investors.

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  2. How to edit ASBA IPO details in SBI bank?

    You can only edit details of an IPO which is currently open for bidding. To edit IPO details in SBI bank, take the following steps

    • Visit www.onlinesbi.com and login using your user id and password

      apply IPO online

    • Click on "e-Services" Tab on the menu.

      apply IPO online

    • Now, on the left hand side, click on "Demat & ASBA services"

      apply IPO online

    • Now, click on "IPO (Equity) under ASBA services and click on "Accept"

      apply IPO online

    • In the IPO Equity ASBA page, click on "Edit IPO" tab. On clicking, you will be presented with a list of IPOs. Select the IPO you wish to edit. Edit your details and click on "Submit"

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  3. How to add new applicant for SBI ASBA IPO online application?

    To add a new applicant for SBI ASBA facility, you need to-

    • Visit www.onlinesbi.com and login using your user id and password
    • In you account page, click on "Profile" Tab

      apply IPO online

    • On the "Profile" page, click on the "Manage IPO applicant". On clicking, you will be asked to enter your netbanking password.

      apply IPO online

    • On the Applicant Details Page, enter required details like name, PAN, depository, DP A/C number and a nickname. Click on "Add".

      apply IPO online

    • Check the applicant details. If details are correct then click "Confirm".

      apply IPO online

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  4. How to sell IPO shares bought through SBI ASBA?

    SBI only provides facility to apply for an IPO online. Once you get the allotment then the shares will be credited to your demat account. You can sell the shares on the listing day or any day after that. Once the company is listed, the shares will be available for trading on NSE and BSE (for Mainline IPOs) and NSE EMERGE or BSESME for SME IPOs. You need to have a trading account to sell your shares bought through the IPO. The process to sell IPO shares is same as any other share.

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  5. Can I apply for an IPO via SBI mobile app?

    No, SBI mobile app currently doesn't offer facility to apply for an IPO.

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  6. When is the application amount blocked for applying for IPO is released in SBI bank?

    The blocked application amount is released on the next working day of finalization of allotment.

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  7. How many applications can I make while applying for IPO using SBI netbanking?

    You can make one applications with three bids on that application.

    Discuss this question

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