Hello everyone can I apply ipo from my partnership accounts?

General
1

Hello everyone can I apply ipo from my partnership accounts?

2

Hey Jayant,
Yes, partnership accounts can apply for IPO.

However, UPI route is not available for partnership (non-individual accounts). You will have to apply using Application Supported by Blocked Amount (ASBA) route. ASBA is a process in which investors’ application money remains in their bank accounts but is temporarily blocked until the shares are allotted. Once the shares are allotted, the blocked amount is debited from the investor’s account. If shares are not allotted, the amount is unblocked.

Online ASBA process

Log in to the internet banking portal provided by the bank and fill out the required details, including the demat account details. They are as follows for a Zerodha account holder:

  • Demat ID: Demat ID is a 16-digit number used to identify a demat account, and it is unique for every client. The demat ID can be found by visiting console.zerodha.com/account/demat. if you are a Zerodha account holder.
  • Depository: CDSL.
  • DP Name: Zerodha.

Offline ASBA process

  1. Download the blank ASBA form from NSE (WEB) or BSE (WEB).
  2. Print the forms and fill in information such as personal details, demat account details, bid quantity, price etc.
  3. Submit it to the bank. The bank must be designated as a Self-Certified Syndicate Bank (SCSB) (WEB).

You can learn more about IPO on our Support Portal here.

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3

Hello I’m applying through netbanking
Fyers as dp name and 16 digit dp id

My bid is showing cancelled

4

If you have not cancelled your bid, perhaps the PAN validation failed.

What does PAN validation mean?

Once the bank uploads the bid to the stock exchange, the exchange checks whether the PAN mapped in the application is the same as the PAN mapped to the demat account. I made this assumption because this is one of the most common errors people make while applying through the netbanking portal.

In any case, you should reach out to your bank to confirm why this got cancelled on its own. If not the PAN, it could also be some other validation failure.

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