Last Updated - 21st Apr 2019
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ProStocks as a Stock Broker is not directly providing IPO Investment service, however if you have demat and trading account with ProStocks, you can still apply in IPOs. 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 with any of the self-certified syndicate banks by providing ProStocks DP account details. After allotment, you can use your ProStocks Trading account to trade and sell in your holding of shares.
ProStocks is offering Free demat account - No AMC for demat account.Just 1000 rs refundable deposit.
Step to Invest in IPOs with ASBA using ProStocks demat account
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.
What type of account I need to invest in IPO?
To invest in IPO, you need to have:
Where can I find the Self-Certified Syndicate Bank branches list?
List of Self-Certified Syndicate Banks under the ASBA facility are available on SEBI, NSE and BSE Sites.
SEBI List of SCSB >> List of Self Certified Syndicate Banks
NSE SCSB >> List of Self Certified Syndicate Bank
BSE SCSB >> List of Self Certified Syndicate Bank
Where can I find my ProStocks DP Account Number?
You can find ProStocks Depository Account Number from welcome letter sent to you, back office software, your monthly demat holding statement or calling ProStocks Customer care number.
ProStocks, currently not providing Mutual Funds service. ProStocks Mutual Funds service coming soon.