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How to apply in SBI Card IPO on a minor's name?

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Applying through a bank that offers 3rd Party IPO Application is the only way to apply for SBI IPO shares in the minor's demat account.

As per SEBI guidelines on ASBA supported IPO application, Five (5) applications can be made from a bank account per issue. But only the public sector banks like SBI offer this facility. Private banks like ICICI, HDFC, Axis, Kotak doesn't offer multiple IPO application per bank account.

UPI based IPO application is not an option in the case of Minor as only minor above the age of 15 with a bank account as a single (not joint) are eligible for UPI.


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