Devyani International IPO: Here’s how to apply via banks and apps like Zerodha, Upstox
Devyani International IPOopens on August 4 and closes on August 6.
- Demat account, trading application and UPI ID are mandatory if you are applying for an initial public offering (IPO).
- KFC and Pizza Hut operator Devyani International is looking to raise over ₹1,400 crore crore through the public issue.
To invest in these IPOs, you need to apply to buy a ‘lot of shares’ from the market. The bidding for these IPOs is usually open for three days particularly during market hours. For Devyani International IPO the bidding will open on August 4 and close on August 6.
AdvertisementA Demat account, a trading application like Zerodha, Angel Broking etc and UPI ID on BHIM app are necessary if you want to invest conveniently in an IPO.
Unified payment interface (UPI) is a banking system for money transfers on payment apps like Google Pay, PhonePe and so on.
One of the simplest ways to track IPOs and invest in them is through trading platforms.
Here’s how you can do it through Zerodha’s Kite application, which is meant for trading stocks and commodities.
- Login to the mobile app and select the IPO option under the console. If you’re logging in through desktop, then go to console -- portfolio -- IPO.
- You will find a list of IPOs that are open for investment. Select the IPO you want to invest in.
- Enter your UPI ID from the BHIM app. Ensure your UPI ID is mapped to your personal bank account.
- Enter the lot size (number of shares required to buy in one lot) announced by the company.
- Tick on the cut off price for more chances of allotment of shares as it indicates investor’s willingness to subscribe to shares at any price discovered within the price band. Cut off price is the issue price.
- Retail investors can bid for a maximum of three lots.
- After this step, click on the check box to confirm and submit.
- The last step is to accept the mandate request for proceeding with IPO on your BHIM UPI app. Once you accept the mandate, the amount of funds for IPO will be blocked till the allotment.
- Now wait till the allotment date of shares to see if you have received the lot size you bid for.
Step 1: Login to the Upstox application or website with your credentials.
Step 2: Select the IPO that you want to invest in and create an IPO application.
AdvertisementStep 3: Add up to 3 bids within the price range.
Step 4: Confirm your application.
Step 5: Accept the UPI mandate and block funds on your mobile UPI app
Another way to invest is through your bank. This option is generally available between 5 a.m. and 11 a.m. on the bank’s website. Here’s how to do it:
- Log in to your bank’s net banking account.
- Go to the investment section and select the IPO option.
- Fill your investment and bank account details to complete the verification process.
- Later select the IPO you want to apply for.
- Enter the number of shares and bid price.
- Read and accept ‘terms and conditions’ documents.
- Submit your application.
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