Can I Apply for an IPO Through Sharekhan Without UPI?

Yes, you can apply for an IPO through Sharekhan without using UPI. You need to create a UPI ID to submit an IPO application by using a UPI. One can apply for an IPO online with Sharekhan without UPI through ASBA or net banking in case you are not a current UPI subscriber.

Steps to apply for IPO in Sharekhan without using UPI

Step 1: Firstly, log in to your online banking account at a bank like HDFC, ICICI, SBI, Axis, etc.

Step 2: Locate the “IPO” section and select the desired IPO from the list of active IPOs.

Step 3: You need to enter the lot size, the number of shares, the IPO price, and other information.

Step 4: Please enter the Sharekhan Demat account number.

Step 5: Validate all the information you submitted.

Step 6: Money from your IPO application in your bank account will be frozen after your order has been successfully made.

Step 7: On the day of allotment, you may confirm to see if shares have been allocated or not. Upon allocation, the blocked funds will be released. In case not, then they will be deducted, and the shares will be allocated to your Sharekhan Demat account.