Can I make payment for an IPO from my father's or someone else's account by registering through ASBA?

asked Monday, July 30, 2018

No, ASBA guidelines suggest that the applicant needs to have sufficient funds in the account at the time of applying for an IPO. This amount will be blocked till the finalization of basis of allotment and will be debited/unblocked depending on whether you're allotted or not allotted shares. You can transfer the money from your father's account to yours and then apply or ask your father to apply for the IPO. However, your father would need a demat account to apply for an IPO.

answered Monday, July 30, 2018

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