As a pre-requisite, If you want to apply for an IPO, you need the below:
- Demat account - To hold your shares
- Trading account - To sell your shares
- UPI ID - To block funds in your bank account
The process to apply for an IPO:
1. You can access the list of upcoming IPOs from the Niyo Money app (click on the top left menu on the Stocks & ETFs page > IPO).
2. You can view the details and click on "Apply". You will need to provide the bid details, which include the quantity (in the multiples of lot size) and the price (within the issue price band range).
3. After you have provided these details, you need to block the amount (equal to the total bid) for the successful application using the ASBA (Application Supported by Blocked Amount) UPI mandate block request.
