IPO payment query

dear sir

i would like to know the procedure to pay for IPO. generally most of the users are low salaried professionals. and their savings account has limit for UPI transactions say like 40000 per day.

now my question is if i want to apply for any IPO more than 2 lakh rupees . how payment will be done in that case.

can you please elaborate on the procedure of payment and additionally let me know what is the possibility of getting the IPO if my budget is above 2 Lakhs.

thank you.

If you want to apply for IPO for a amount more than 2 lakhs, you’ll have to do so using the Netbanking ASBA service provided by your bank. You can read this post to know the process of applying for IPO through ASBA.

The application over 2 lakhs will be considered under NII (Non-Institutional Investor) category, where the allotment is done on proportionate basis. You can learn more on this here:

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is filing IT return compulsary to apply for IPO As HNI.
i havent earned more than 2.5 lakhs annum n previous 5 years and i had loss in trading prev financial year. i wish to file IT as Nill for 20-21.

just in case if i apply for Zomato IPO by investing 2.50 lakhs of my savings.

is it possible. can i apply it using ASBA of Canara Bank. does IPO supported by all major banks?

I know only one part of the question. if you apply for the maximum under retail category, you are sure to get some allotment. This is my experience.