IPO apply through ASBA online- HDFC BANK

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The IPO season is the season of money, you get a chance to earn profit in a short period and sometimes it can also bring red colour to your portfolio but it is very uncommon.

There are 2 ways where you can apply for an IPO: UPI and ASBA. Today I'll be sharing the process of the ASBA route via HDFC net banking. 

Now you might be wondering why to go for the ASBA route when you can easily apply from UPI, so there are a few issues with the UPI method like delay in mandates, funds blocking issue and the main problem arises on the refund date.

In case you haven't received the IPO allotment then the unblocking of funds take time in the UPI method, you have to wait till the mandate end date and sometimes you have to wait even after the mandate end date hence I don't encourage applying from the UPI method.

Let's get into our ASBA process via HDFC's net banking:

1. Login to net banking- First you need to login to HDFC's net banking portal. You will get the below interface.

After login, you need to click on the request option on the left side illustrated in the above image.

2. Select IPO/Right issue- Now you will get the below interface and you need to click on the IPO/Right issue option.

3. Continue further- Now you will get an option to continue to go forward mentioned in the below image.

4. List of IPOs- Now you will get the list of all the open issues and you can select the one you wish to apply by clicking on the apply option.
5. Fill in details- Now this is an important step, you need to fill all the details correctly and also recheck before submitting. 

What do you have to fill?

• Select the investor category as Individual If applying for less than 2 Lakhs and HNI If applying for more than 2 Lakhs.

• Fill in the number of shares as per lot size and tick on the cut-off price (mostly preferred).

• Fill in your name, PAN, D.O.B correctly.

• Select the depository as per your broker.

• Fill in DP ID (for NSDL) and Beneficiary A/C no (for CDSL).

• Fill the DP name correctly, for example, If you have a Demat account with Zerodha and you're applying from HDFC's net banking portal so you will have to write "Zerodha" in the DP name because that is your broker and HDFC's site is just a medium to apply the IPO.

After filling in all the details correctly click on the "proceed" button and accept the terms & conditions and make sure your browser's pop-ups are unblocked because after accepting you will get an option to block the amount and then you're done :)

In this way, you can easily apply for an IPO via the ASBA route from HDFC's net banking portal and the good part about ABSA is that the funds get blocked/unblocked easily without any hassle ;)

See y'all in the next blog, Cheers!

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