new broker for IPO only?

hello everybody. i am new to trading. just opened a trading account with a discount broker. i have done some trades mostly in stocks.i want to subscribe to IPO but my broker does not give this facility. i want suggestion from you guys how can i do it?
shall i open another trading account with other broker?
how do they charge brokerage for IPO?

Which IPO are you looking to subscribe to?
You will be required to open a new account with a full fledged broker if you are looking to subscribe for new issues..
I guess ANY big broker will provide you with this facility so you can choose based on your convenience and preference

u dont need broker for ipo banks and asba facilty is right choice

your discount broker is really stupid. They should have suggested u the procedure even if they dont handle the process themselves. You dont need another broker.

I must say in that case he definitely needs another broker. after all a broker who cannot help a newbie in a simple matter, what future does he have with them.!!?

yes Rajeev is right. its simple go to any bank, you'll get the form. just fill the same demat as held with your current broker

The reason is that he is a 'discount' broker', who don't and in most cases won't provide these services.

Nevertheless, get a form from stock exchange or the Registrar for the company. Fill it and submit to registrar. Use the Demat account which you already have with your current broker and it will be done

Firstly I advise you to check with the bank account for you have if they support net banking and asba. It is a very convenient feature better than ipo application.


I agree I prefer axis bank, as hdfc n kotak do not support asba as far as I have seen. I have the Kodak account don't have hdfc.
Axis asba suports ipo application from the bank side since money is blocked for the ipo you do not lose out on interest in case you do not get allocation.
Prior to application you need to register your demat account details online.
It's quite simple.

If you want a backup then only open an account with another broker big broker sharekhan edelweiss geojit . Everyone keeps usually 2 broker accounts since it helps to segregated long term investments and short terms investments.
There are many difficult to find features like ofs for equity which very offer like sharekhan Kodak sec offer. I got stuck once when I realised my broker didn't have it.