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Investing in an IPO requires an applicant to have a demat cum trading account. Although brokers allow opening a minor account it is operated and managed by a guardian only till the child turns major. Therefore, to bid for any SME IPO in a minor’s name, ASBA net banking is the most preferred IPO application method. Minor child’s parent or guardian can subscribe to any SME IPO in the minor child’s name using their bank account linked to their trading account. Thus, the ASBA process allows parents to bid for SME IPO in the minor’s name accessing their bank’s net banking account.
UPI is another method to bid for an SME IPO for minors but only available if your child is above the age of 15 years and also has a bank account with net banking. Customers can purchase SME IPO via UPI in the minor’s name with any stockbroker that allows a UPI-based IPO application process.
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Zerodha Trade@20
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