Answer
Who Can Apply and Which Category to Choose:
- Retail Investors: Bid amount is less than ₹2 lakh
- Non-Institutional Investors (NII) / High Net-worth Individuals (HNI): Bid amount is more than ₹2 lakh
All applicants, whether Retail or NII, use the same ASBA e-form (Application Supported by Blocked Amount) method.
Where to Find the IPO Application Form:
Bank’s Net Banking (ASBA):
- Log in to your bank’s internet banking (like SBI, HDFC, ICICI, Axis).
- Look for the ‘IPO’ or ‘ASBA’ section and apply directly from there.
Brokerage Apps:
- Use your stockbroker’s mobile app (e.g., Groww, Angel One, ICICIdirect).
- Select the IPO, choose your ‘Investor Type’ (Retail or HNI/NII), and submit.
Stock Exchange Websites:
You can also download the application forms from the official websites of the National Stock Exchange (NSE) or Bombay Stock Exchange (BSE).
UPI Apps (Only for Retail):
- Retail investors can use UPI-enabled apps like BHIM, Google Pay, or Paytm.
- Search for and select the ‘Apply in IPO’ option.
Offline IPO application forms for Retail and Non-Institutional Investors can be obtained from SCSB branches, brokers, or downloaded from the NSE website. Ensure correct details are filled to avoid rejection.
Mandatory Requirements: You must have an active Permanent Account Number (PAN), your physical PAN card, and a Demat account (to hold your shares).
Submission and Fund Blocking:
All applications are submitted online. When you apply, the bid amount is only blocked in your bank account; it is not deducted immediately. The money is only taken out if you are successfully allotted shares. If you don’t get an allotment, the blocked amount is released back to your account.