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SBI Securities IPO Review


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SBICAP Securities Ltd (SSL), a subsidiary of State Bank of India. It offers financial products to the retail customers, HNIs and Institutions. The services offered include Equity, Currency and Derivatives trading, Depository services, IPO services, Mutual Funds, Bonds, home and car loans.

SBICAP customers can trade at NSE and BSE using its proprietary trading platform SBISMART Xpress. The platform offers features like advanced charting tools, live quotes, screeners, heatmap for fast trading and analysis.

SBICAP leverages a range of channels, both digital and physical, to serve its customers across India. The company offers online support through email and website. It has over 115 branches across the country where customers can visit and get their issues resolved. There's also a field force who offer doorstep services.

SBICAP Securities Facts

  • Part of prestigious State Bank of India
  • In brokerage business since 2006
  • 115+ branches across the country.
  • Services also available in 2000+ SBI Bank branches
  • Offers research reports and analysis tools
  • Free access to the proprietary trading platform

Initial Public Offer (IPO)

When a privately held company (previously unlisted) wants to get itself listed in the stock exchanges and wants to sell its shares to the general public for the first time then it has to undergo the IPO process. Companies come up with IPOs to attain two objectives

  • Raise funds by selling shares to the investors
  • Get listed on the stock exchange

The company raises funds to meet its various objectives. This includes; to sell promoter's holdings, finance its expansion plans, repay existing debts, buy new assets or to fund corporate expenses.

A company gets listed on the stock exchange to get access to the secondary market for its shares and gain visibility for its brands.

An IPO bidding process is held after obtaining necessary clearance from the SEBI. Three major categories of investors can participate in the IPO bidding:

  1. Qualified Institutional Buyers(QIB)
  2. Non-institutional investors (NII)
  3. Retail individual investors (RII)

Some companies also allow their employees to bid in the IPO. Each category has a reservation quota. In most cases the reservation for QIB investors is 50%, NIIs is 15% and RIIs is 35%.

During the IPO window, investors apply for IPO in lots. One can apply for an IPO in 3 ways-

  1. Using services of a broking company
  2. Using Net Banking ASBA
  3. Filling a form and submitting it at the designated centres

After the bidding is over, shares are allocated through a formula. In case of oversubscription, the lottery is used to pick investors.

The shares allotted through IPO becomes eligible for trading from the day the company is listed on the exchange.

Apply IPO in SBI

SBICAP Securities doesn't offer IPO application through its trading platforms. However, you can use the SBI bank account net-banking services to apply for the IPO.

Step by Step guide to applying IPO in SBI Bank

You would need access to net banking and your SBICAP Demat Account details at the time of applying for IPO Shares.

If shares are allotted to you in the IPO, the shares are credited in your SBICAP Demat Account. You can hold them or sell them from your SBICAP Trading Account. You can sell the IPO shares the same way as you sell any other shares from the trading account.

Important Information:

  • SBI allows up to 5 IPO applications using the same bank account. If you have 5 demat accounts on your family or friend name, you could apply for IPO shares in all these accounts using your single bank account.
  • For maximum allotment in good IPO's, it is recommended to open and use the demat account on each of the family members names.
SBI Online IPO Timing
 

From

Till

Online IPO Application Timings

9 AM (on IPO Opening date)

2 PM (on IPO Closing Date)

Offline – Physical Submitting in Branch

9 AM (on IPO Opening date)

3 PM (on IPO Closing Date)

Note that IPO Application can be revised or withdraw in the time frame provided above. In case of full application withdrawal, money gets unlocked in your bank account by end of the day.

Steps to Apply IPO - SBI Net Banking

To apply for an IPO using SBICAP demat account and the SBI bank account, you need to:

  1. Login to your SBI net banking account
  2. [First time only] Add yourself as an applicant by:
    1. Click on the 'Profile' tab on the top menu
    2. Now, click on the 'Manage IPO Applicant'
    3. In the next screen, enter you SBI Net Banking Profile Password and Click on Submit
    4. Enter your Name, PAN, Depository details etc., and click on 'ADD'
    5. Check the added details and click on 'Confirm'
    6. Enter the OTP sent on your mobile and click on 'Confirm'
    7. You will receive a confirmation message on the successful addition of applicant
  3. Go to e-Services > Demat and ASBA Services > Click on IPO Enquiry
  4. Accept the 'Terms and Conditions'
  5. Select the IPO you wish to apply from the list of IPOs available and click on 'Go'
  6. After reading the letter, click on 'Accept'
  7. Select Investor Category
  8. Select Applicant. In the pop-up window, select the nickname of the applicant
  9. Enter Bid Price, quantity etc., and click on 'Submit'

You will receive a confirmation email/SMS on successful application. The total application amount will be blocked in your bank account. The money will be debited if you are allotted shares else it will be unblocked after the allotment process.

Once shares are allotted to you, they get credited to your SBICAP Demat Account. These shares will be eligible for trading on the day the company gets listed on the exchange.

Check SBI IPO Application Status

You can verify the status of your application in the IPO History link on SBI net banking website.

Steps to check IPO Application Status with SBI:

  1. Login to SBI Net Banking
  2. Go to 'e-Services'
  3. Go to 'Demat Services and ASBA Services'
  4. Go to 'IPO (Equity)'
  5. Go to 'IPO History' page.

The history page displays the IPO application reference number, issuer company name, date of application, Lien Mark Amount and Lien Mark Status.

IPO Allotment Status SBI

Note: The fastest way to check the IPO Application Status for orders placed in SBI is by visiting the website of the IPO Registrar i.e. Karvy, Link Intime.

You could also Check IPO allotment status on SBI website. Simply log in to SBI net banking and visit the IPO History page as mentioned above to view the status of your IPO application and its allotment status.

Once allotment is done, the allocated shares are credited to your SBICAP Demat account. You could view the shares online in your SBI Demat account the evening before the listing of IPO shares. To view the allocated shares in your demat account, following the steps below:

  1. Login to SBISmart Account (Trading / Demat Account)
  2. Click on Customer Service
  3. Go to Back Office
  4. Click Demat Report (SSL DP View) and Select CDSL or NSDL. Now Select Report (Holding) and Select BOI ID (Demat Account Number)
  5. Click on show holdings

FAQ's

  1. Can I apply IPO through my trading/demat account with SBICAP Securities?

    No, SBICAP doesn't offer an online IPO application through its trading platform. However, you can apply for an IPO through net banking services of SBI bank. The process to apply through net banking is simple. Follow the Step by Step guide for applying IPO in SBI Bank.

    Discuss this question

  2. How many times can I apply for the same IPO with SBICAP?

    As per SEBI guidelines, only 1 application per PAN Number is allowed in an IPO. Applying for an IPO multiple times using the same PAN Number will get your application rejected.

    As in popular IPO's the allotment is done by lottery, it is recommended to apply through multiple demat accounts on family member's name. If you are a family of 4, you could open 4 demat accounts and 1 additional demat account on HUF name. Thus you can apply in IPO using 5 PAN Number.

    SBI allows 5 IPO applications from one bank account. It means you could apply for IPO shares on all family member names using one single bank account.

    Discuss this question

  3. How do I sell the allocated IPO Shares with SBICAP?

    Once the allotment process is over, a listing day is announced by the company. The shares are available for trading i.e. buying and selling from the listing day.

  4. Who can apply in an IPO through SBI?

    The eligibility requirements to apply for an IPO through SBI Net Banking is-

    • Have an SBI Bank account
    • Have a Demat account
    • Be a QIB, NII or RII category investor as defined in the prospectus

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  • Explain SBI IPO Application charges?

    SBICAP doesn't charge any fee for IPO application via ASBA.

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  • Can I apply in IPO using SBI Smart Mobile Trading App?

    No, you cannot apply for an IPO using the SBI Mobile App.

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  • Does SBICAP offer IPO services to NRI customer?

    Similar to resident Indians, NRIs could use the SBI Net Banking services to apply in an IPO.

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  • Where do I get my SBI Demat account detail?

    To check your demat account details:

    • Log in to sbismart website
    • Go to Customer Service page
    • Click on Back Office
    • Click on Client Profile.

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  • How many IPO application allowed from a SBI Bank account?

    Up to 5 IPO application are allowed from one SBI Bank saving account.

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  • How to check IPO Allotment Status in SBI?

    The best way to check IPO Allotment status is by visiting IPO registrar's website. IPO Registrar's like Karvy, Link Intime publish IPO Application Results on their website.

    To check the IPO Application Status on SBI website; SBI Bank customer could log in to net banking website -> e-Services -> Demat Services and ASBA Services -> IPO (Equity) -> IPO History page.

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  • Information about SBI Securities Initial Public Offer, SBI Securities IPO, SBI Securities Allotment Status, SBI Securities Applciation Status, SBI Securities ASBA, SBI Securities Apply IPO andSBI Securities Demat.

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    Information on this page was last updated on Friday, November 2, 2018


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