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.
- To apply for an IPO using IPOSmart, you can visit any nearby Axis Bank branch. It's not mandatory to have an account in the same branch; any Axis Bank branch account will suffice. When filling out the ASBA application form for the IPO, include details like your Axis Bank account number, PAN Number, and Demat account information.
- Upon submitting the form, you will receive an acknowledgement receipt with a unique reference number, which should be kept for future reference or inquiries.
- Following this, Axis Bank will block the specified amount in your account for the IPO application and forward the application details to the relevant stock exchanges for that particular IPO.
- The customer is responsible for ensuring adequate funds are in the account to cover the IPO application amount and provide accurate information on the ASBA application form.
- If there are insufficient funds in the account or any discrepancies found in the application form, the bank will be obliged to reject the IPO application. It will not proceed with the bidding process at 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.
