Is there any difference in price when applying for IPO via ASBA vs via Broker just like Direct vs Regular MF have different NAVs?
Another related question…
I met a person (common friend) today who said that he pays a fixed amount for applying for an IPO.
Eg. if I apply for E2E Network IPO, he would pay Rs 5000 / lot. So there’s no loss for us but if he makes the profit, everything - 5000 is his.
Are there any legal implications of this? Is this a common practice among brokers?
Nope.
your first question is already answered and just to add any application be it of an IPO or right issue of amount rs 2 lakh or more must be through ASBA only.
your second questions sounds amusing and interesting but i request you to kindly elaborate so as to understand more.you may please.
Ok
What are you getting? 
?
I get Rs 5000 + whatever investment I made. I’ve to bear the brokerage charges.
I meant Everything minus 5000.
He has another scheme of 40:60. So if IPO opens in premium, I get 40% of the profit and he gets 60% of the profit but otherwise I get full invested amount back. So its either 40% of profit or nothing.
They sell the stocks withing 3-4 of stock getting listed.