You can apply for an IPO through HDFC Bank Netbanking. HDFC bank uses the ASBA (Application Supported by Blocked Amounts) method that ensures your funds should be deducted from your bank only upon the allocation of shares in public issues.
To apply for an IPO through HDFC net banking, you need
- Net banking enabled on your HDFC Bank account
- A Demat account with any broker, not necessarily with HDFC Securities. You can use the method even if you a Demat account with any discount brokers like Zerodha, or Upstox)
How to Apply for IPO Through HDFC Bank Netbanking
Step 1 – Login to your HDFC Netbanking Account
Step 2 – Under the Request section, go to the IPO/right issue
Step 3 – Select the account number and then select “I want to apply for IPO Issue” and click on Submit.
Step 4 – A new screen will open with information Name, account number & PAN. Click on “I have read and accepted the Terms & Conditions”. Click on continue.
Step 5 – You will get a warning popup message that you are being redirected to an external site (hdfcsec.com). Click on Ok
Step 6- Select the option I want to apply for IPO Issue and click on the ‘submit’ button.
The next screen will be an overview of all the IPOs (Initial Public Offerings) presently in HDFC application window with the IPO information like –
- Issue name
- Issue type
- Issue price/price band
- Lot size
- Start Date
- End Date
Step 7 – Click on the apply button for the stock IPO to which you wish to apply.
Step 8 – You will see an ASBA message regarding the funds will be deducted only upon the allocation of shares in public issues. Click on ‘Ok’.
Step 9 – Fill in all the required details for the IPO
- Date of birth
- Bid details with bid quantity & bid amount – The share number must be in multiples of the declared lot size
- Depository Details
- Choose from NSDL, or CDSL under “Depository Details”, as per your demat account details.
- Enter your broker name like ‘Zerodha’ under “DP Name”
- If your demat account is with NSDL, Enter the first 8 characters starting with “IN” under DP ID, and the rest of the 8 characters under “Beneficiary A/C no”.
- If you select the Depository Details as CDSL, then the DP ID would be greyed out. You would need to update the entire 16-digit account number in the Beneficiary Account Number field itself.
Step 10 – Click “Proceed”.
Step 11 – Click “I agree” on the disclaimer and confirm the request for the Online Fund
Your IPO application will be submitted.
You can also check out How to download the HDFC deposit slip if you are a regular bank visitor.
How to Check IPO Allotment Status in HDFC Net Banking
You cannot check the IPO allotment on the HDFC net banking dashboard.
You can check the IPO allotment’s latest status either on the registrar’s website like Link Intime, or Karvy, or on NSE and BSE portals.
Let me share all the 3 methods with you.
#1. Through Registrar’s Portal
- Visit Registrar’s websites like Link Intime, or Karvy.
- Click on IPO Subscription/Status from the menu
- Select the IPO you have applied for from the dropdown list.
- You have three options to check the IPO allotment status –
- Application no.
- Demat a/c no. or DP Client ID
- Pan number
- Enter Captcha and click on “Submit”.
#2. Via NSE Portal
- Go to the NSE India website homepage
- Click on the Products menu and then click on “Initial Public Offering”.
- Click on the “Verify IPO Bid Details” link in the right column.
- Log in using your NSE login credentials. If you are visiting for the first time, then you have to sign up using your pan card, to avail of the services.
- Once logged in, you can use your pan card number to get the allotment status.
#3. BSE Portal
- Reach out to the BSE portal.
- Click on “Public Issues” on the top menu.
- Click on the “Check the status of Issue Application” link in the right column.
- Select the Issue type and issue name from the dropdown list.
- Now, select either “Application no.” or “Pan no.” to check the IPO allotment status.
- Check the “I am not a Robot” box and click on Search.
- You’ll be able to see your allotment status.
You can also read our in-depth article on HDFC Securities Review if you are interested in a 3-in-1 (demat, trading, and savings) account in HDFC bank.
How to Sell IPO Shares in HDFC Net Banking
You cannot sell stocks through HDFC net banking. On allotment, you will receive the stocks in your Demat account that you submitted while applying for IPO.
Once the stocks are listed you can sell the IPO shares in a similar to any CNC sell order in your Demat account. For example, in the case of Zerodha
- Log in to Zerodha Kite.
- Go to the holdings tab.
- Select the allotted IPO stock that you want to sell.
- Click on exit
- Enter the trade details like quantity, price, and order type.
- Click on Submit.
You can also read out a step-by-step guide on “How to apply for IPO in Zerodha”, to explore other IPO application options.
FAQs
1. Can I apply for an IPO through HDFC Bank Netbanking if I don’t have a Demat account with HDFC Bank?
Yes, you can apply for an IPO through the HDFC Netbanking platform. You must have a Demat account with any broker.
2. Is there any limit on the number of IPOs I can apply for through HDFC Bank Netbanking?
No, there is no limit on the number of IPOs you can apply for through HDFC Bank Netbanking.
3. Can I apply for an IPO using my joint bank account?
Yes, you can apply for an IPO using your joint bank account. However, the name on the bank account should match the name on your Demat account.
4. Can I apply for an IPO through HDFC Bank Netbanking if I am an NRI (Non-Resident Indian)?
Yes, NRIs can apply for an IPO through HDFC Bank Netbanking if they have an NRE or NRO bank account.
5. Can I apply for an IPO using HDFC Bank Netbanking if I don’t have a savings account with HDFC Bank?
No, you need to have a savings account with HDFC Bank to use their Netbanking platform for applying for an IPO.
6. Can I apply for an IPO using HDFC Bank Netbanking if I have a corporate Demat account with HDFC Bank?
Yes, you can apply for an IPO using HDFC Bank Netbanking if you have a corporate Demat account with HDFC Bank.
7. Can I apply for an IPO using HDFC Bank Netbanking if I have a Demat account with another bank?
yes, you can only apply for an IPO using HDFC Bank Netbanking if you have a Demat account with another Bank.
8. Is there any charge for applying for an IPO through HDFC Bank Netbanking?
Yes, there is a fee charged by HDFC Bank for applying for an IPO through their Netbanking platform. The fee varies depending on the IPO.
9. Can I apply for an IPO using HDFC Bank Netbanking if I have a minor Demat account?
No, you cannot apply for an IPO using HDFC Bank Netbanking if you have a minor Demat account. The application must be made by the guardian of the minor.
10. Can I modify my IPO application after submission?
No, you cannot modify your IPO application after submission.
11. Can I sell my IPO shares immediately after allotment?
You can sell your IPO shares immediately after the listing of stocks on the stock exchange.
