if i have mine business registered as sole proprietorship with same PAN card as personal PAN card,
so can i apply for IPO through this proprietorship bank account in my personal demat account…
if ii’ll get allotted, will the money be debit from this bank account of proprietorship and can shares credit to mine personal demat account without any issue ?
Yes, since a sole proprietorship and the individual are legally the same entity (both share the same PAN), you can apply for an IPO using your personal demat account and your proprietorship bank account without any legal issue.
IPO applications are processed based on the PAN and bank account details. As long as the PAN on your IPO application, demat account, and bank account (proprietorship or personal) is the same—which it is in your case—there is no regulatory conflict.
You can:
Apply for the IPO using your proprietorship’s bank account.
Receive the shares in your personal demat account.
The funds will be debited from your bank account as part of the ASBA (Application Supported by Blocked Amount) process.
However, you also need to ensure that:
Your bank account supports ASBA (almost all current accounts now do).
The name on the bank account and demat account matches, or at least is accepted by the registrar handling the IPO.
So yes, using your proprietorship bank account to apply for an IPO in your personal demat account is valid, provided the PAN is the same and the bank is ASBA-compliant.
If you need further clarification or assistance, feel free to consult compliance experts e.g. Setindiabiz or any reliable name.
thanks for the detailed reply
as we can apply ipo as long as PAN and name is same everywhere,
but here people using third party bank account also getting allotments, but only few banks support third party application, most major banks has stopped it.