How can one apply for an IPO?
How can one apply for an IPO?
An investor needs to first obtain an IPO application form through a share broker, an investment consultant or from the collecting banks. The investors are required to fill up the form and remit the amount after calculating the number of shares applied for in the bank, which has been designated as a collecting centre for the particular IPO.
An investor holding a demat account can either apply for the shares directly through the account or can opt for physical delivery of share certificates. There are certain IPOs, which offer only demat form of shares, while others offer both the demat and regular shares. Application forms can be rejected due to incomplete details.
Every week Sebi issues press releases for information of the public, details of offer documents filed with Sebi and observations issued. The required details can be obtained from the ‘Primary Market’ section of the Sebi website. The draft offer document can also be purchased from the Sebi office. The draft offer document/letter of offer remains posted on Sebi website for a period of 21 days from the date of filing the same to Sebi and can also be downloaded from there.
Application forms can also be obtained from the lead manager and brokers to the issue. The application forms are also generally available at collecting bankers. Name and addresses of the lead manager are available in the prospectus/letter of offer.
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