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IPOSmart

The Axis Bank IPOSmart service allows you to apply for IPOs without letting go of your funds, and continue earning interest on them. With IPOSmart, you can invest in IPOs without using cheques and DDs as the bank will directly allot payments as required. IPOSmart allows for instant release/unblocking of funds after allotment/non-allotment of shares while giving you the option to authorize your bank to make payments in case of allotments, removing the need for cheques or DDs.

Features & Benefits
Eligibility
Apply for IPOSmart
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FAQs

Features & Benefits

Funds remain in your account

There's no need to fret over refunds, as your money stays within your account without being transferred.

Earn interest on your funds

Enjoy interest earnings on the funds that would have otherwise been withdrawn from your account.

Eliminate the need for Cheques or Demand Drafts

Provide your bank account number and sign the application form to enable your bank to process payments in the event of an allotment.

Simplified Fund Management

Experience easy and transparent handling of your funds.

Unblock funds instantly

Instant release/unblocking of funds after allotment/non-allotment of shares.

Eligibility

The criteria of eligibility for IPOSmart are that the investor holds an account with any Self Certified Syndicate Member Bank; has a Demat Account with any depository participant of CDSL/NSDL; and has a PAN card. On fulfilling IPOSmart eligibility, Price Bids and Multiple Bids are permitted to all categories of investors.

Criteria for Individual Investors: An investor is eligible to apply via IPOSmart provided they meet the following requirements:

Possesses an account with a self-certified syndicate bank.
Maintains a Demat account with any Depository Participant affiliated with CDSL or NSDL.
Owns a PAN Card.

Guidelines for Other Investors: Price Bids and Multiple Bids are available to all investor categories, including retail investors. This means investors can opt for up to three price bid options under ASBA rather than a single bid at the cut-off. Additionally, there is an option to cancel, revise, or modify bids until the bid closure time. Under the ASBA Mode, only one application per bank account is permitted for a specific IPO.

Apply for IPOSmart

As an account holder of Axis Bank, you can choose to apply for IPOs using IPOSmart application. You can do so by visiting one of the designated Axis Bank branches or through internet banking. The IPOSmart application process involves submission of details like your Axis Bank account number, PAN Number, Demat Account particulars etc. in the ASBA application form.

How to Apply?

01
The IPOSmart option is available in the Internet banking facility of the bank, i-Connect. A customer does not need to visit the branch in case of application through Internet banking.
02
The first step is to go through a one-time registration so that common details like Demat and PAN particulars need not be filled for every application through IPOSmart.
03
Click on the Registration Link and submit the same post filling the accurate details.
04
Once the registration is complete, the next step is to make the application through the Payment section.
05
Select the IPO to be applied to and mention the number of shares and the corresponding price quotes. Maximum three quotes/bids are permitted per application. The highest bid amount will be calculated and lien will be marked accordingly on the operating account selected.
06
The bid shall then be accepted in case of sufficient balance in the account and a unique transaction number shall be generated for any further status enquiry on the application.

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How to Apply?

01
To apply for an IPO using IPOSmart, you can visit any nearby Axis Bank branch. It's not mandatory to have an account in the same branch; any Axis Bank branch account will suffice. When filling out the ASBA application form for the IPO, include details like your Axis Bank account number, PAN Number, and Demat account information.
02
Upon submitting the form, you will receive an acknowledgement receipt with a unique reference number, which should be kept for future reference or inquiries.
03
Following this, Axis Bank will block the specified amount in your account for the IPO application and forward the application details to the relevant stock exchanges for that particular IPO.
04
The customer is responsible for ensuring adequate funds are in the account to cover the IPO application amount and provide accurate information on the ASBA application form.
05
If there are insufficient funds in the account or any discrepancies found in the application form, the bank will be obliged to reject the IPO application. It will not proceed with the bidding process at the stock exchange.

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Frequently Asked Questions

The FAQs for IPOSmart cover answers to queries related to the basic requirements to apply in an IPO using IPOSmart, details related to SCSBs, the difference between the existing IPO process and the IPOSmart among other questions. For further questions, go through the below IPOSmart FAQs.

The bank where investor has account should be a Self Certified Syndicate Banks (SCSBs) and Axis Bank is a SCSB.
All categories of investors can apply through ASBA route.
Investors applying below ₹2 lakhs are allowed upward and downward revision of bids or withdraw the application before the issue gets closed through the Bank.
Investors applying above ₹2 lakhs are only allowed upward revision of bids before the issue gets closed through the Bank. Withdrawal of bids above ₹2 lakhs is not allowed.
The application amount (total bid amount) for IPO application will remain locked until allotment is done. An investor cannot withdraw the money in locking period.
The investor should have a Demat account with any Depository Participant of either CDSL or NSDL.
The individual investor should have PAN.

Banks, which are certified by SEBI, allows all investors to apply in IPO's using ASBA payment method, are known as Self Certified Syndicate Banks (SCSBs). SCSB's has capability to block the IPO Application amount until IPO allotments are done. SCSB guarantee the Issuer Company for the blocked money and make sure that it's not being used for any other purpose. Axis Bank is one of the SCSB registered with SEBI for providing this service to its customers
All branches of the bank, at present, are activated for IPOSmart, however, this facility can be availed by any branch account holder, by visiting any of the branch of the bank. Or else an account holder can use Retail i-Connect (Axis Bank's retail net banking facility) to apply in IPOs through ASBA irrespective of the branch in which account is held.

As per SEBI, all categories of investors are allowed to apply in IPOs, Rights Issue and NCD IPO under ASBA.

To apply in an IPO using IPOSmart from Axis Bank, an investor should have account with the Bank.

The investor gets the convenience to invest in IPOs either through Internet banking or branches
The application money stays in the account of the investor till allotment and hence he/she continues to earn interest in his/her account, if applicable
In case the investor does not get full allotment of the shares applied for, the lien or the block will be removed for the remaining amount, which the investor cans use instantaneously

Yes, retail individual investors can apply at lower price band.

Yes, interest will be payable on blocked amount as per RBI guidelines.

Steps

Login to your Axis bank internet banking account. The account can be held with any Axis Bank branch across the country.
Click on the link named Online IPO.
The first step is to go through a one-time registration so that you do not need to fill up you Demat and PAN details for every application through IPOSmart.
Click on the Registration Link and submit the same post filling the accurate details.
Once the registration is complete go to the Payment option.
Select one of the IPOs you want to apply for and mention up to maximum 3 bids. The total bid amount will be calculated and lien will be marked on the total of highest bid.
You would then be required to provide OTP received on registered mobile number and accept the Terms & Conditions before submitting the bid.
The bid will be accepted and a unique transaction number shall be provided for any further status enquiry on the application.

You have to visit the nearest Axis Bank branch for applying for in the IPO through IPOSmart. It is not essential that you hold an account with that branch, but should hold an account with the bank.
Fill in details like up to three bids, account number, PAN, Demat account details etc. in the specially designed ASBA application form of the IPO you wish to apply in and submit it at the branch.
You will receive the acknowledgement copy from the branch.
Subsequently, bank will block the amount on your highest bid in your specified bank account for the IPO as applied and send the application information to the designated stock exchanges for that IPO. In case of insufficient amount in your bank account, the bank will reject the IPO application and will not send the bidding to stock exchanges.
The registrar to the issue will receive the data uploaded by your bank in the electronic bidding system of the stock exchanges and will only check the correctness of DP-ID, Client ID /Beneficiary Number and PAN for weeding out multiple applications based on PAN. The Registrar will then complete the basis of allotment and the same will be approved by the designated Stock Exchange
On receiving the approval, the Registrar will send to the Bank, information containing investor-wise details on allotment and non-allotment and the money that has to be debited to your account. Based on this file the bank will debit your bank account for the allotment money and will release the block on the remaining amount in the account
Subsequent to this, the issuer will make the allotment and shares will be credited to your Demat account

No further physical documentation is required to avail this facility.

An investor, who has received the common application form from the registrar of the company floating the rights issue, has the option of applying through ASBA at any of the branch of the bank. Rights issue is now available in Net Banking facility. The process is similar to that of IPO, where the applications are bid with stock exchange by the SCSB.

A single Application can be made by an investor in an IPO Issue. However, in case there are any additional Reservation Categories provided by issuer of the IPO, investors eligible in that particular category may apply in that category as well.

Eg:- In an IPO where there is Employee/Share Holder/Policy Holder Reservation,

An investor can apply additionally in the reservation category (as the case may be) apart from the category to which the investor belongs.

There is no differentiation in allotment of shares applied through ASBA and Syndicate ASBA route.

Bidding time will be uniform for ASBA and Syndicate ASBA applications. However, the applications have to be submitted with the branch during the banking hours and before 1 pm on issue closure date.

Yes, you can place a withdrawal request anytime during the bidding period. Any request for bid withdrawal should be made during the banking hours and on or before 1 pm of the issue closure date and will be subject to acceptance of Stock Exchange after which the application amount in your account will be unblocked. Once withdraw, the blocked amount will be available in 1 working day. Revision of bid request is also permitted under IPOSmart. In case of upward bid revision lien will be marked on the differential bid amount, however, in case of downward bid revision or bid withdrawal, lien on the previous highest amount will not be released.

Investors applying below Rs. 2 lakhs are allowed upward and downward revision of bids or withdraw the application and Investors applying above Rs. 2 lakhs are only allowed upward revision of bids before the issue gets closed through the Bank. Withdrawal of bids above Rs. 2 lakhs is not allowed.

As of now this value added service is provided free of cost.

No. The blocked amount cannot be withdrawn. However, the same will be lying in your operative bank account till the allotment and earn interest as per account terms applicable.

Bank will need the money in investor's account at the time of placing the bid for IPO shares through IPOSmart payment option. SEBI has clearly instructed that banks will not accept IPO application before blocking the bidding amount (for ASBA process). The amount will remain locked until registrar / stock exchange request bank to release the fund either because the investor didn't receive the allotment, IPO application got rejected or investor withdraw the IPO application. However, in case of upward bid revision additional lien will be marked on the differential amount. Besides, in case of bid withdrawal, lien will not be released from the account.

Only one application can be made from a bank account in a Public Issue. (However, in case the investor is eligible in any additional reservation category, the investor may apply in that category as well). Further, the investor cannot apply on behalf of any Third-Party from own bank account.