Can I Apply For IPO From Two Demat Account?

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We have often heard that submitting multiple applications can increase the chances of IPO allotment. After all, who wouldn’t want to take the advantage of the listing gains, right? But because of this a question generally arises, can I apply for IPO from two Demat account?

Are you looking for the answer too?

If yes, then get the complete information here.

IPO Multiple Bids

IPO is popular with traders and investors for being a rapid and robust profit-making investment practice. An IPO-listed company with radiant prospects attracts investors that are looking for either quick or long-term profits.

Naturally, a first-time investor might try applying for an IPO with two or more of his/her Demat accounts.

So, let us now figure out if you can actually apply from two Demat account and enhance your chances of making the best out of IPOs.

But the answer to this question is that NO, you cannot apply for an IPO from two different accounts. If you apply for an IPO from two Demat accounts linked to the same PAN card, your application will get rejected automatically.

But that does not mean that you can place multiple bids for the IPO.

Confused?

Here is the way to increase your bids and the chances of getting allotment in the IPO.

Multiple applications are still possible if you have access to two different Demat accounts i.e. each is registered to a different PAN card.

Basically, you need a PAN card number and the name of your friend or family member and use that to make a new Demat account. With this new Demat account you can apply for the same IPO.

In this way, you will not be violating any regulations and still be able to apply for Multiple IPOs.

Thus, you can submit applications from different Demat accounts only when they are linked to different PAN cards.

Increase the chance of earning profit and the chance to get IPO allotment by opening a new Demat account today.

Get in touch with us and we will assist you in opening a Demat account online and applying for an IPO.

How To Apply For IPO?

Now that we know how you can actually use two Demat accounts to submit your IPO application, let us have a look at how you can apply for an IPO.

You can apply for an IPO either offline or online.

If you are applying for an IPO offline, you simply have to visit the nearest branch of your stockbroker. After this fill in the ASBA form, and submit it with the required documents and a canceled cheque of the desired amount.

The process of IPO application has also been digitized and therefore if you want to apply for an IPO online, you can follow the given steps.

Log in to your net banking portal or the trading platform of your stockbroker using your login ID and password.
Now go to the ‘IPO’ segment.
A list of all the available IPOs will be displayed on the screen. Out of these IPOs, choose the one that you want to apply for.
Now enter the quantity, bid price, and the UPI ID.
Click on submit.
You will receive a mandate to block the desired amount in your account. On approving the required amount is blocked in your account.

Note- This amount is only blocked in your Demat account till the time the IPO allotment process is not completed. This amount is debited only when you get the allotment of the shares or else it is unblocked or refunded in your account.

Conclusion

To sum it up, neither you can apply for IPO without Demat account nor can apply for an IPO through two different Demat accounts because as per SEBI’s guideline it is not legal and your application will get rejected. If you still want to submit multiple applications, then apply for the IPO using a different Demat account registered with different PAN cards.

So, if you are looking to apply for an IPO, open your Demat account today!

Open your demat account now and apply IPO online. Get in touch with our team and get the best suggestion for stockbroker.