SEBI has introduced the new ASBA system for IPO and it is now difficult to apply for IPO online from the brokers end. But you can easily apply online through your Bank’s netbanking facility. Here are the step that you need to follow to apply for IPO from SBI net banking.
Step 1. Login to your SBI netbanking and go to E-services tab.
Step 2. Click on Demat & ASBA from the left side menu
Step 3. Under ASBA services select IPO Equity
Step 4: Click on Agree and then select the IPO you wish to subscribe and hit Go
Step 5: Click accept. You will then see the details of the IPO
Step 6: Fill in the details like PAN, DP account, bid price , quantity etc and click on Submit and you are done.
Step 7. You can check the status by going to the IPO history tab
The procedure in same for other banks also. You can check for your respective banks. All nationalized banks offer IPO application through net banking.