Answer
Most modern online trading platforms (like ICICIDirect, Zerodha, etc.) offer a seamless IPO application process that utilizes the ASBA or UPI ASBA mechanism. The steps are generally:
- Log in: Access your trading account and navigate to the “IPO” or “Invest in IPO” section.
- Select IPO: Choose the current IPO you wish to apply for.
- Enter Details: Specify the bid price, quantity, and your Demat account details.
- Select Payment Method: The platform will usually default to, or require you to select, the ASBA or UPI option.
For Direct ASBA (Net Banking): You will be redirected to your specific SCSB’s net banking portal to authorize the fund block.
For UPI ASBA: You enter your UPI ID. A mandate request is sent to your UPI app (like Google Pay, PhonePe, etc.). You must approve the mandate within the specified time to successfully block the funds.