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Ebixcash said that it plans for an IPO (initial public offering) in July. Ebixcash eyes to raise ₹6,000 crore. Ebixcash is a subsidiary of Ebix Inc, an US-based tech company, listed on Nasdaq.
IPO is an event where shares of a particular company are sold to retail investors and institutional investors.
Here’s how you can apply for IPO online.
Also read: EbixCash enables UPI for G-20 travellers visiting India. Know how it works
How to apply for IPO via internet banking
To apply for an IPO, one is required to have a demat (dematerialised) account, trading account, bank account, and UPI ID.
- Log in with your internet banking credentials
- Click on the Application Supported by Blocked Amount (ASBA) tab. In HDFC, one can find the option Invest. IPO application through ASBA
- Next, select the IPO from the IPO list
- Enter the applicant name and PAN.
- Provide the bid amount and price.
- Then, click on submit.
Eligibility criteria for IPO
- Need to be an investor as per SEBI guidelines. At present, four types of investors can invest in an IPO - Qualified Institutional Buyer (QIB), Non-Institutional Buyer (NII), Retail Individual Investor, and Employees.
- Must have a Permanent Account Number (PAN).
- Bank account must be linked to Demat.
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