Last Updated - 19th Apr 2019
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HDFC Securities as a Stock Broker is offering online IPO application to its clients. After SEBI’s mandate in Jan 2016, all application in IPO and FPO (Initial Public Offering and Follow on Public Offering) has to be channel through ASBA (Applications Supported by Blocked Amount) process through Self-Certified Syndicate Bank (SCSB).
You can apply in IPOs online with HDFC Securities 3 in 1 account or directly using HDFC Bank netbanking. After allotment, you can use your HDFC Securities Trading account to trade and sell your holding of shares.
HDFC Securities offer 3 in 1 account Ė Bank, Trading and Demat, So if you have HDFC Securities account than applying in IPO is just 3 step process.
In case you have only HDFC Bank account and want to use ASBA process, than you need to login to HDFC bank net banking. Under Request section, select IPO Application. This process will redirect you to IPO solution page. On IPO solution page, select IPO from available option. That open Order screen, please fill number of shares, price, Date of Birth, DP information and confirm details.
As per SEBI Policy, with one bank account we can apply 5 ASBA applications for same IPO. But we donít see such option in HDFC Bank ASBA online process. In online process itís always selecting primary account holder and we have only place for one DP account information. We can see second and third applicant place is there on order form, but itís not clear, is it for multiple applications or something else.
We see one more issue with HDFC Bank ASBA that system is not allowing to save DP account information. With this each time one apply for IPO he need to key in DP information.
Eligibility criteria for applying in IPO with HDFC bank ASBA is Ė HDFC Bank account, Valid PAN Card, Valid DP Account (With HDFC or any other brokers/Bank), Clear Balance in your HDFC current or saving account.
The benefits of investing through ASBA are as follows:
Detail Article on ASBA Process for IPO Investment >> Read
Note: Client having account in those bank who are not offering paperless ASBA application or those client who do not do online banking has to fill the physical application and submit to syndicate member for onward submission to client’s bank for blocking required amount in client ‘s bank account.
You can invest in Mutual Funds with HDFC Securities in three easy ways:
How to online invest in Mutual Funds via HDFC Securities?
To Invest in Mutual Funds you should be KYC Compliant.Steps to invest in Mutual funds via kotaksecurities.com
HDFC Securities Ltd/HDFC Bank Netbanking allows you to Invest in MF through the Systematic Investment Plan (SIP).
What are benefits using mutual funds service from HDFC Securities?
Key benefits with HDFC Securities for investing in Mutual funds are: