Nirmal Bang IPO Review (Apply Steps, UPI and Allotment Status)

Nirmal Bang, a full-service stockbroker

Nirmal Bang is a Mumbai based full-service stockbroker. The company has been in the business for over 30 years providing trading and financial services to customers in India. It provides a range of services including stock broking, research advisory and portfolio management. The company also offers Mutual Funds to its customers.

Nirmal Bang provides both, online and offline trading services. Customers who wish to trade online can use its free trading platform available across desktop, mobile and web. Those who are unable to or can't use its online services can visit the branch facility or call & trade as per their convenience.

Key Facts About Nirmal Bang

• 30+ years of experience providing financial services
• Strong research advisory services
• Branches in 16 states across India
• Mobile, web and desktop trading platforms
• Depository services from NSDL and CDSL
• Online and offline account opening process
• In-depth news and market insights from across the globe

Initial Public Offer (IPO)

IPOs have gained a lot of interest from retail investors in the last decade. Some investors invest in an IPO for long-term gains while some for short-term listing gains.

An Initial Public Offer (IPO) is a process for a privately held company to convert into a public company. It is also the way for a private company to invite shareholders to buy its shares and get listed on the stock exchange.

Every private company intending to go public needs SEBI approval to launch its IPO. After that, a subscription period is announced wherein investors can bid for the IPO shares. A company may opt for a book building IPO wherein the investors' bid for prices or choose a fixed price IPO.

All types of investors- individuals and institutions- can apply for shares in an IPO. The investors are categorized into 3 groups- QIB, NII and RII. Each category has a fixed quota in the allocation of shares.  The quota for RII or retail investors is 35%. Some companies, especially PSUs, offer discount pricing to retail investors.

After the bidding, the shares are allotted to eligible investors. In case an IPO is oversubscribed then a lottery system is used to pick eligible investors. The allotted shares can be traded from the day the company is listed on the exchange.

Mainline companies are listed on NSE and BSE. SMEs are listed on NSE Emerge or BSE SME.

Nirmal Bang Customers- Apply in an IPO

Nirmal Bang doesn't offer IPO application services. It only offers IPO research services under IPO Watch wherein it provides in-depth information, review and recommendation on the upcoming IPOs. The report is prepared by its research desk.

However, Nirmal Bang customers can use their demat account and apply for an IPO using the netbanking facility. This way the allotted shares will be credited to their Nirmal Bang demat account.

Steps to Apply in an IPO using net banking ASBA

1. Log in to your bank's net-banking account.
2. Some banks may ask you to register as an IPO applicant.
3. Visit IPO section of the website. It is generally under the Investments section.
4. Select the IPO you would like to apply for from the list of active IPOs.
5. Select your account and enter your bidding details like price, number of lots etc. Make sure you provide your Nirmal Bang demat account details.
6. Confirm and submit the application.

In the ASBA IPO application, the application amount is only blocked from withdrawal and not immediately. The bank debits the money only when the allotment of shares is done. If there's no allotment, the bank unblocks the money. The money earns interest for the period it is blocked.

The allotted shares will be credited to your Nirmal Bang Demat account.

Frequently Asked Questions

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Information on this page was last updated on Wednesday, January 11, 2023