Applying for an IPO through net banking (ASBA)
Besides a broker app with UPI, you can apply for an IPO directly from your bank's net banking. This is called ASBA: Application Supported by Blocked Amount.
When to use it
For bids above ₹5 lakh, which UPI cannot handle, such as larger HNI applications. When the UPI mandate keeps failing. Or when you simply prefer your bank.
How it works
Log in to net banking and look for the IPO or ASBA section under investments. Choose the IPO, the category, the number of lots and the price (or cut-off), and enter your demat details: depository, DP ID and client ID. The bank blocks the amount straight away; there is no mandate to approve.
The demat account and the bank account must be in the applicant's own name, matching the PAN.
Blocking and release
As with UPI, the money stays in your account but cannot be used. After the allotment, the amount for allotted shares is debited and the rest is released, usually by the refund date shown on the IPO's page.
Checking the result
The allotment is checked the same way: on the registrar's website with your PAN or application number. IPO Khata can look it up for you.
Related guides
- How to apply for an IPO in India
- The IPO UPI mandate, explained
- IPO money still blocked? What to do
- UPI or net banking (ASBA) for an IPO: which should you use?
More on applying for an ipo
- Can family members apply for the same IPO separately?
- What the cut-off price means in an IPO
- How to modify or cancel an IPO bid
- When to apply for an IPO
- Pre-applying for an IPO
- Borrowing to apply for an IPO
See today’s IPOs with live GMP and subscription
Information, not investment advice. GMP is an unofficial grey-market indicator; figures come from public sources (InvestorGain) and may be late or wrong. Not registered with or affiliated to SEBI, the exchanges, the registrars or InvestorGain.