As an account holder of Axis Bank, you can choose to apply for IPOs using IPOSmart application. You can do so by visiting one of the designated Axis Bank branches or through internet banking. The IPOSmart application process involves submission of details like your Axis Bank account number, PAN Number, Demat Account particulars etc. in the ASBA application form.
- Visit any of the nearest designated Axis Bank branches for applying in an IPO through IPOSmart
- It is not essential to hold an account in the same branch; the account can be held with any Axis Bank branch.
- Details like Axis Bank account number, PAN Number, Demat account particulars etc. need to be filled in the ASBA application form of the IPO and submitted to the branch.
- On submission of the form, an acknowledgment slip shall be handed over with a unique reference number. The slip needs to be retained for any future information or query.
- Subsequently, the bank will block the amount in the specified Axis Bank account for the IPO as applied and send the application information to the designated stock exchanges for that IPO.
- Customer shall be responsible for maintaining sufficient funds equivalent to the IPO application amount in his/her account and for furnishing correct and accurate details in the ASBA application form of the IPO.
In case of insufficient amount in the bank account or any discrepancy in the application form, the bank will have to reject the IPO application and will not be able to send the bidding to the stock exchange.
- The IPOSmart option is available in the Internet banking facility of the bank, i-Connect. A customer does not need to visit the branch in case of application through Internet banking.
- The first step is to go through a one-time registration so that common details like Demat and PAN particulars need not be filled for every application through IPOSmart.
- Click on the Registration Link and submit the same post filling the accurate details.
- Once the registration is complete, the next step is to make the application through the Payment section.
- Select the IPO to be applied to and mention the number of shares and the corresponding price quotes. Maximum three quotes/bids are permitted per application. The highest bid amount will be calculated and lien will be marked accordingly on the operating account selected.
- The bid shall then be accepted in case of sufficient balance in the account and a unique transaction number shall be generated for any further status enquiry on the application.