How to apply for IPOs using Net Banking (ASBA) with your FYERS Demat account?

How To Apply for IPOs Using Net Banking (ASBA) With Your FYERS Demat Account?

If you don’t have a UPI ID or are applying for an IPO with a bid amount above ₹5 lakhs, you can apply through your bank’s net banking using the ASBA (Application Supported by Blocked Amount) method. 

What is ASBA?

ASBA is an SEBI-approved process that allows you to apply for IPOs directly through your net banking. The application amount remains in your account and is only blocked until allotment. It is automatically debited only if shares are allotted. You should use ASBA if:

  • You don’t have a valid UPI ID linked to your bank account
  • You are applying for an IPO with a bid amount above ₹5,00,000 (not permitted via UPI)

Steps to apply for an IPO using ASBA (Online via Net Banking)

  1. Log in to Net Banking: Use your bank’s web portal or mobile app that supports ASBA.
  2. Access IPO/ASBA Section: This may be listed under 'Investments', 'e-Services', or 'Demat Services'.
  3. Select the IPO: Choose the IPO you want to apply for from the available list.
  4. Enter Application Details:
    • Select investor type (e.g., Resident Individual)
    • Enter the number of shares in lot multiples
    • Select the bid price or choose 'Cut-off price'
  5. Enter FYERS Demat Details:
  6. Submit the application: Review all details and confirm to submit.
  7. Fund blocking: The bid amount will be blocked in your bank account until allotment.

Steps to apply using Offline ASBA (Physical form)

  1. Download the ASBA form:
  2. Fill the form completely: Include your name, PAN, bank account number, FYERS 16-digit CDSL BO ID, IPO name, quantity, and bid price.
  3. Submit to your bank’s SCSB branch: The bank must be a SEBI-listed Self-Certified Syndicate Bank (SCSB).
  4. Collect the acknowledgement slip: Keep it for tracking your application status.

What happens after you apply?

  • If shares are allotted, the blocked amount is debited and shares are credited to your FYERS Demat account.
  • If shares are not allotted, the blocked amount is automatically released by your bank.
  • No charges apply for ASBA applications via net banking or offline form.

What If...

ScenarioResolution
IPO option not visible in net bankingCheck if your bank is a SEBI-designated SCSB. Contact your bank support team.
Demat ID rejected during applicationEnsure you’ve selected CDSL and entered your 16-digit FYERS BO ID correctly.
No update on IPO allotmentWait 2–3 working days after IPO close. You can check the status via your bank or IPO registrar's website.

Last updated: 09 Sep 2025

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