How to Apply IPO through HDFC Netbanking? ASBA STEP By STEP Guide

How to Apply IPO through HDFC Netbanking? ASBA – Step by Step Guide

The IPO’s markets have the hottest craze if we see the current scenario there is a flood of IPO’s in the market.

Whenever the market is in the continued advancement, many companies release their Initial public offering and the public appetite for these offerings engross the complete issue.

Going public is indeed a good sign since it depicts the growth of the company.

IPO is a dream of many small companies as it transfers the private company into a public entity thereby supporting the company in gaining much-needed exposure and enhanced reliability.

IPO Financing is pertinent when a private company seeks to take its company to another plan.

There is a huge list of upcoming IPO lined up in the year 2020

ASBA has become an eminent way to apply for among the retail investors.

ASBA proffers many advantages such as

Interested in knowing how an Initial Public Offering (IPO) works and how to apply for an IPO? Watch this video to learn more.

The purpose of today’s post is to explain the procedure to “Apply for IPO using HDFC net banking”.

HDFC is one of the leading chief Indian banking and financing servicing company headquartered in Mumbai, Maharashtra is the largest bank in India by the market capitalization.

How to buy an IPO by HDFC Netbanking?

HDFC is one of the members of the sele centered syndicate banks. SCSBs are permitted by SEBI to accept IPO applications from investors.

Steps for Online IPO Application through HDFC Netbanking

The procedure to apply online for an IPO through HDFC involves the following steps

  1. Login to your HDFC NetBanking Account.
  2. Click on “IPO Application” under Request on the left side menu.
  3. Select the IPO
  4. Enter IPO details
  5. Confirm your Order.
  6. How to Apply IPO through SBI Netbanking?
  7. How to Apply IPO through Zerodha App?

Details of ASBA Application from HDFC Netbanking

  • If you are an HDFC Bank NetBanking customer, you can now apply online. Log in on NetBanking and select the “IPO Application” option from the bottom left menu. You will then be re-directed to our IPO Online System.
  • The IPO Application is only for resident individuals and applications cannot be made on behalf of a Corporate, HUF, Trust, Minors etc.
  • Please note that the sequence of names of the applicants should be as per the sequence of names held with the Depository account.
  • By default, the NetBanking user will be that of the 1st applicant.
  • A hold will be marked on the total amount, at the highest price bid by the applicant.
  • Application money will remain blocked up to the finalization on the basis of allotment.
  • The account will be debited post the allotment of the shares.
  • Further, if the information furnished by the applicant is incorrect, the Bid is liable to be rejected and the Company and Bank would not be liable for losses if any.
  • Please ensure that the name on the PAN card matches with the Demat Holder’s name.

Firstly,

  1. Log in to your HDFC online account 

Visit the www.hdfcbank.com and click on the login button on the right side. In the next screen, you have to log in using the HDFC account user ID and password

2. Click on “IPO Application” under Request on the left side menu

On the displayed account page, go to the left side of the menu and click on the “Request” and then on “IPO application”

Click on the “continue” next and you will be directed to the IPO page in the HDFC securities

3. Select the IPO

In the next screen, you will be presented with the list of IPOs that is open for bidding at the time.

Select the IPO you want to apply and click on the Apply

4. Enter the IPO details

On this page, you have to furnish the IPO details

On this page, you have to select the investor status-retail or HNI. If you are investing more than a sum of Rs 2 lakh then you have to select the HNI, otherwise, select the retail

Secondly, you are required to enter the bid details therein. You can enter up to 3 bids. You have to enter the total number of shares you want to bid for and the price per share in case of the book building issue.

Click on the cut off price, if you want to, selecting the cut of price means that you agree to buy the shares at the price decided by the company during allotment.

If you are accessing a single account then the applicant details such as the PAN etc will be automatically occupied.

However, you would require the depository details NSDL or CSDL, DP name and ID.

Once you have furnished the details, click on the “Proceed”. A popup will immediately be displayed, and it will request you to enter the bank details

In the case of Pop up doesn’t display, please check whether your browser has blocked all the popups and retry again.

5. Confirm your order

Place and confirm the order by clicking on the “Accept” after reading and understanding the terms and conditions. You have to wait for the message.

Your bid has been successfully placed. Click on the “close” and done button.

How to Apply IPO through Zerodha & Upstox?

Prerequisites for ASBA through HDFC Net Banking

Who can apply for an IPO online through HDFC Bank net banking?

To buy IPO by HDFC Netbanking through ASBA facility

  • You should be above 18 years
  • Holds a saving account or current account with a bank
  • Holds single or the joint account
  • have a Demat account
  • have Permanent Account Number (PAN)
  • have sufficient funds for the initial public offering.

Benefits of IPO Application through ASBA

To keep a pace with India’s growth story, a large number of the companies strive to tap the primary markets to raise the capital through the Initial public offering (IPOs)

As most of the IPOs are oversubscribed so the shares which are allowed to you are far fewer than what you have applied for.

In the procedure, not only you run out of cheque leaves but the balances in your account also sink

However, the investment via the ASBA  is investor-friendly means to apply for any of the IPO in the market.

The application supported by the blocked amount is an interface that makes sure that your funds are credited from the bank account only when you are allocated the shares in the public issues.

Within this time phase, you will continue to yield interest on the savings account.

Below I have compiled the list of few queries regarding the IPO through HDFC net banking

How to Edit IPO Application details in HDFC bank?

The investor can edit the IPO details under the ASBA facility. However, one can edit it during the IPO bidding window and not after the closure of the IPO bidding procedure.

To edit the ASBA details of an existing initial public offering, one has to undergo the following procedure let us understand what are those procedure

  • Login to the HDFC net banking account
  • On your account page, go to the left side menu and click on the Request and then on IPO application. Click on continue next and you will be directed to the IPO page in the HDFC securities.

On the IPO page, click on the order book tab and you will be given with the list of the IPOs there, that you have applied in the past

You have to select the IPO in which you wish to do the editing or modify and click on the edit button/modify

Do the necessary editing and click on the “Proceed”

Check the complete details here.
https://www.hdfcbank.com/personal/invest/ipo-application-through-asba

How to Cancel or withdraw the IPO Application in HDFC Netbanking?

One can cancel your bids or withdraw your IPO application under the ASBA facility. However, you can do it when the bidding is going on and not when the bidding is closed

To withdraw the IPO application, one has to take the following given steps

  • Firstly, log in to the HDFC net banking
  • On your account page, go to the left side menu and click on the Request and then “ IPO Application. Click on the ” Continue next and you will be directed to the IPO page in the HDfc Securities.

  • On the IPO page, click on the order book tab and you will be given with the list of IPOs, that you have applied in the past

Click on the radio button that is next to the IPO that you want to cancel and then you have to click on cancel bid.

How to Apply IPO using HDFC securities Mobile app?

Final Words

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Frequently Asked Questions

Can I apply for an IPO using the HDFC mobile banking app?

No, the HDFC bank doesn’t proffer you the facility for IPO application through HDFC mobile banking app.

When is the application amount blocked for IPO is released in HDFC bank?

When the investor applies for the IPO accessing the HDFC ASBA process, the application amount is marked as alien or blocked.
The amount is released on the next working day of dispatch of the allotment.

How many applications one can make while applying for IPO using HDFC net banking?

For any of the IPO, you can make one application with three bids on the application.

Can I apply online for IPO through HDFC net banking?

Yes, the HDFC bank is a member of the self-certificate syndicate banks SCSBs. SCSB is allowed by the SEBI to accept IPO applications from the investors.
If you have saving accounts or current account with the HDFC bank and have a Demat account then you can apply for an IPO using HDFC net banking.

Can I still approach my broker to apply for an IPO?

Yes, you can approach the broker to apply for an IPO.

Is priority in allotment given to applications bid under the ASBA facility?

There is no difference between the allotment of the shares applied via ASBA or Non-ASBA.

Can I revise the bids?

Yes, one can revise the bid under the ASBA facility. In an event of upward revision of the bid, a lien will be marked to the extent of the increased amount
However, in case of the downward revision differential money blocked will not be released
If there is such amount it will be released after the allotment.

Can I bid at multiple rates under ASBA?

Yes, one can place three bids under the ASBA.

What is the difference between the Non-ASBA IPO process and the ASBA process?

In the Non-ASBA IPO procedure, the application money will be promptly debited from the bank account once the bid application is successfully placed.
In the ASBA, no amount will be debited until the successful allotment is done
Until such allotment, the amount will remain unblocked.

Will the bank charge any additional fees if I choose the ASBA Payment Option?

Presently, this Value-added service is provided free of cost.

Is there any additive documentation required for accessing the ASBA facility?

No, further documents are needed to avail of this facility.

If I am NRE/NRO customer, can I apply for ASBA?

Yes, in such cases one can apply through the physical application; However one cannot currently apply through ASBA or net banking.

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