Applying for IPO via Bank

Hi,

Applying for IPO via Zerodha requires mandatory usage of UPI, but I don’t use/trust UPI so I try to avoid it. Today I discovered that one of my banks are offering online IPO application facility via net banking, is it safe to use this facility with my existing DP ID?

Are there any pros and cons for UPI/net banking?

Yes, you can easily able to appluy ipo via your existing dp id.

Applying through net banking ASBA Facility is safer and faster method but one of cons for netbanking is last date cutoff timing is limited i.e., 2 p.m. or some banks offer it @ 4 p.m.(hdfc bank offers it) but through upi you can apply ipo last day and you can approve mandate on next day before 12 p.m. so this will give you proper analysis of last day subscription of ipo’s. Con of upi is that sometimes money gets blocked in bank but mandated gets revoked so it creates confusion about whether your ipo got succesfully applied or not.

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Thanks for the info :slight_smile: