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TradeSmart as a Discount Stock Broker is not directly providing IPO Investment service, however, if you have a demat and trading account with Trade Smart, 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 the 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 Trade Smart DP account details. After allotment, you can use your Trade Smart Trading account to trade and sell your holding of shares.
Detail Article on ASBA Process for IPO Investment >> Read
Note: Client having an account in those banks who are not offering paperless ASBA application or those clients 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.
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
You can find Trade Smart Depository Account Number from a welcome letter sent to you, back-office software, your monthly demat holding statement or calling Trade Smart Customer care number.
Trade Smart as a discount broker does not provide Mutual Fund Investment.
Trade Smart as a discount brokers does not provide Mutual Funds investment service, however, to invest in Mutual Funds you don't need a demat. You can directly visit the appropriate mutual fund house site. You need to complete the online login and the KYC process. Once you are KYC compliance with Mutual fund house, you can start investing online. Maximum Mutual Fund Houses allow e-KYC to reduce turnaround time and paperwork. In case you wish to have your mutual fund holdings in your demat format, you can use Trade Smart DP information.
Last Updated on 1st Sep 2023