What are the basic requirements to apply in an IPO using IPOSmart?
• Only retail individual investors have the IPOSmart facility at this time. • The bank where investor has account should be a ?Self Certified Syndicate Banks (SCSBs) and Axis Bank is a SCSB. • An investor can only apply at cut-off price. Once submitted the bids cannot be revised. Investors are allowed to withdraw the application before issue gets closed through the Bank. • The application amount (total bid amount) for IPO application will remain locked until allotment is done. An investor cannot withdraw the money in locking period. • The investor should have a demat account with any Depository Participant of either CDSL or NSDL. • The individual investor should have PAN.
