In this post I’ll explain how to subscribe to an IPO without a broker. This is one of the less known aspects of equity investments.
Steps to be followed for IPO subscription through your bank’s internet banking facility, assuming your bank has ASBA facility. Most nationalized banks have this facility. In the below example, I’ve shown BOI screens, the navigation would vary for different banks.
Step 1: Login to your internet banking:
Step 2: Go to Requests Tab and Select ASBA IPO Request
Step 3: Select ASBA IPO Request (on side menu)
Step 4: Navigate to Bid Cum Application section
Step 5: Fill up bid form and Submit
Step 6: Wait for confirmation on allotment, if allotted the shares will reflect in our DP account after the allotment process is completed.
Hope this post helps!
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You may also be interested to know why ‘I Subscribed to HDFC AMC IPO‘.