Best Demat Account for IPO/FPO

[trader_man]

Hi Guys,

What would be the best demat account in terms of applying for IPO/FPO? By best, I mean the following factors:

1. Gives refunds quickly after IPO has been allotted.
2. Option for applying to IPO/FPO online.
3. Good customer service.
4. Reasonable charges.

Thanks.

 

[how2trade]

Hi Guys,

What would be the best demat account in terms of applying for IPO/FPO? By best, I mean the following factors:

1. Gives refunds quickly after IPO has been allotted.
2. Option for applying to IPO/FPO online.
3. Good customer service.
4. Reasonable charges.

Thanks.

ICICIDirect.com

 

[deneb]

The best way for IPO/FPO apllication is via ASBA. If you have internet banking activated in your bank account you can most probably use the feature.

There is no question of refund as the money remains in the your account until you are allotted the shares. The money leaves your account only when you are alloted the shares. When you apply for IPO/FPO the amount is blocked in your account.The amount remains blocked till the share allotment for the IPO/FPO are over.If you dont get allotment the amount is unblocked and you can use the money for other purpose.Since the money never leaves your account you will get the interest for the entire period your amount was blocked.

I had applied via SBI and Axis and the amount was debited from my account only when I was allotted shares. And when I failed to get any allotment the amount was unblocked on the day of allotment(Not listing). So far had no issues with the process.

On the other hand if you apply for IPO/FPO by broking terminals the refund will take days and the refund when it comes will be in cheque (Based on my experience).

 

[Logik]

one more imp thing.
ASBA is feature offered by the bank.
u need not to have demat with the bank in order to apply thru ASBA.
all u need to do is quote ur demat details/PAN in ASBA application form.

 

[jatin_gala]

ASBA

although you need a demat account

Most of the state run banks provide this facility ...
I am personally using ASBA in BOB