How to buy an IPO through SBISMART? sbi ASBA

Problem
I am using sbismart for years. I usually do trading on equity stock. Recently I have come across some exciting IPO. I would like to buy these IPO, but I didn’t find any option in sbismart to buy an IPO. How can I buy an IPO through a sbismart account?

Solution
As of February 2018, you cant buy an IPO directly through the sbismart account, but sbi provides another method to buy this IPO through their internet banking portal. Sbismart account usually comes with an internet banking, so ofcource you buy an IPO if you are a client of sbismart.
Here is the guide for buying an IPO through sbi internet banking

Add IPO applicant details in online sbi

This step is required if you are buying an ipo for the first time or you need to add an different applicant details.
1. Go to My Accounts & Profile > Profile

 

2. Open Manage IPO Applicant
Submit profile password if it is asked

3. Fill the form Add IPO applicant details section then click Add button

Make sure you select correct Depository (NSDL or CDSL), Fill the demat account details. Once you fill demat account details provide an Nickname for the Applicant (This will help you to recognise the applicant very quick for eg: NameNSDL)

4. Confirm the Applicant details. You will receive an OTP in your registered mobile, enter this OTP and Confirm

 

Your applicant details added successfully.

Buy an ipo through ASBA Services

Please note that you must be register atleast one applicant details to buy an IPO through ASBA Services. If you are not registered yet follow the instruction given above.

1. Go to e-Services > Demat & ASBA Services 

2. Click IPO (Equity) under ASBA Services (IPO). Then Accept the terms

3. List of currently opening IPO will appear. Choose the correct Company name in wish you want invest. Then click Go

 

4. You are again asked to Accept the terms

5. Select appropriate Category Eg: Individual

6. Now you will be shown the Minimum Bid Quantity and Price Band. Inorder to fill applicant details, click on Select Registered Applicant.

7. In new window appeared, select Nickname for the Applicant the click GO
Now applicant details will atomically get filled.

8. Next step is to bid the IPO. If you want to apply for ipo without bidding then put a tick mark under Cut Off Price and required Quantity. The Quantity must be the multiple of Minimum Bid Quantity
Select Debit Account Number then Submit the application.

9. A summary of you IPO application will shown in next window, once you check click Confirm button.

10. Enter the OTP received in your mobile number then click Confirm again