NTPC has come out with an FPO that opens on Tuesday, 2 February and closes on Friday, 5 February. A total of 412,273,220 equity share will be up for the taking at a floor price of Rs.201 per share.
Applying for any IPO/FPO is really easy when you choose the online mode, especially the ASBA way (Application supported by Blocked amount). All you need is a online banking account and a demat account (Client ID and DP ID).
Advantages of using the ASBA method
Your account gets debited only when the shares are allotted to you
The refund process will be quicker compared to the traditional paper way
You will continue to earn the savings bank accounts Interest rate normally till your account gets debited.
How to Apply online?
Simply log into your online banking account and find the Demat/ASBA section and proceed according to the on screen instructions.
Different banks have different screens during the application process through ASBA.
Normally, you select the IPO/FPO you’d like to invest and proceed accordingly. In the next step would be agreeing to certain terms and conditions and sending a letter to the company involved (NTPC for example).
In the next step, choose the number of shares for which you’d like to bid (minimum 28 and further in multiples of 28 for NTPC) and select the account from which you’d like the amount to be debited from and submit your IPO bid.
Till the moment your bank accounts funds are allotted to your IPO share’s price, the blocked amount will be shown as lien amount.
In the next step, you will be asked to give the respective bank (using which you are applying to IPO/FPO) the permission to block the amount and bid on your behalf.
Agree to that and there you are; you have successfully applied to the IPO/FPO.
You can make any changes to your bid, if required, before the time the IPO/FPO closes.
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{ 5 comments… read them below or add one }
Can you know which are the banks providing this facility online? I have HDFC account but they don’t have this facility online.
HDFC is a Self Certified Syndicate Bank (SCSB) and you should have IPO facility in your Internet Banking account.
Thanks for the useful information…can you tell me when will be the NTPC announce the allotment for public issue(RECENT FPO)?
It will bw very helpfull to me.
This may be helpful to you/
thank you. I did my first IPO just now using SBI ASBA. was really simple