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Can I apply for IPO with a different bank account?

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Some banks (like SBI, Axis, BoB, IndusInd, and RBL) offer 3rd party IPO applications where you can apply in an IPO with different bank accounts. Though the bank account can be different, each applicant should have the Demat account and PAN card. One person can apply only once for an IPO application across all investor categories.

You can use these bank accounts to apply for IPO shares in Minor, HUF, friends, or family member's Demat accounts.

Many banks (like HDFC, ICICI, Kotak, Yes Bank, and PNB) offer only one IPO application per bank account, where Demat and bank account should belong to the same person.



2 Comments

2. Riyansh   I Like It. | Report Abuse |   Link | Mar 30, 2022 4:33:29 PM Reply
@ Chittorgarh Team,
Today Indusind Bank allows only One Application. It seems INdusind bank does not allow 3rd Party ASBA for 5 application. Is there any change in Policy ?
1. vvvimal   I Like It. | Report Abuse |   Link | Dec 3, 2021 1:27:23 PM Reply
ICICI bank shows 5 Applications using ASBA. Does that mean 5 different PAN accounts can be used.