Mirae Asset Sharekhan IPO Review (Apply Steps, UPI and Allotment Status)

Yes, while the bidding is open for the IPO shares, customer can modify or cancel the IPO application placed online.

Sharekhan offers an online IPO application using UPI as a payment gateway. Sharekhan customers can apply in any IPO using its website or mobile app. Sharekhan doesn't charge any fee for applying in IPO.

Note:

Before you apply in an IPO in Sharekhan, you need a UPI id. Read about the UPI payment option for more detail. UPI ID can be created using the net banking app of your bank or BHIM UPI App. All major banks offer this facility.

Steps to apply for IPO in Sharekhan

1. Login to Sharekhan App or Sharekhan Website
2. Click on the three-line menu next to the overview on the top
3. Under the equity section, click on IPO
4. Select the IPO you want to apply from the list and click on it
5. Enter your quantity, price and UPI ID
6. Check on terms & conditions box and click Submit
7. Recheck and Confirm the Order
8. Accept the UPI Mandate using Net Banking or BHIM app.

Note:

• UPI Mandate (approval of transaction) comes after a few hours of submitting the application.
• You will receive the order confirmation SMS on your mobile. You can also check the status of your order on the order book.

You can apply for an IPO with Sharekhan using its website or mobile app. Here, we will discuss the process for both.

Whether you are applying through Mobile App or the Sharekhan website, the process is pretty much the same.

To apply for IPO through Mobile app, follow these steps:

1. Open the Sharekhan App, log in with your ID and password.
2. Open the tab given on top left of the dashboard, and Select "IPO" under the Equity segment.
3. Choose from the list of all the current IPOs.
4. On the application form, fill out the details like Demat account number, Category, Quantity, Price cut, and enter your UPI ID.
5. Click the terms and conditions box. Now, click on the submit button.
6. On the next page, check all the details again and Click on "Confirm Order".
7. After this your request will be sent to Sharekhan. Sharekhan will send you a Mandate to authenticate your bid amount.
8. Confirm the mandate within the due time. Click on "Proceed" to confirm.
9. After this, enter your UPI ID for the payment. You will receive a confirmation message for your order.
10. Once the order is placed, you can check the same under "Order Book". You can modify or cancel the order too.

Sharekhan doesn't offer online applications for SME IPOs. Sharekhan customers can apply for NSE Emerge and BSE SME IPOs by submitting physical forms at the office of Sharekhan.

You can apply for an IPO (Initial Public Offering) with Mirae Asset Sharekhan online. Both, the Mirae Asset Sharekhan website and the Mirae Asset Sharekhan trading app facilitate the feature of applying for an IPO online. The process is easy and very quick.

To apply for an IPO on the Mirae Asset Sharekhan website, the steps are given below:

After logging in to the Mirae Asset Sharekhan website, select the IPO & OTHERS options in the Top Menu and follow the below steps.

• Select The IPO of your Choice.
• Fill in Account Details, Number of Lots, Cut Off Price etc.
• Enter your UPI ID and recheck your Application Details.
• Login to your UPI App to pay your IPO mandate.
• Enter your UPI Pin to authenticate the transaction.
• Once this is done, the IPO amount will be blocked, and the order will now show on your Order Book.

To cancel an IPO application, you shall:

• Open the Sharekhan app or website from where you applied for the IPO.
• Enter your ID and password to access your account.
• Go to the IPO section on the platform, then go to the "Order Book".
• In the order book, you will find all your IPO applications and their status. Select the IPO you want to cancel.
• Click on "Withdraw Application/Cancel Bid/Delete Bid".
• Your IPO application will be canceled.

The beneficiary account number or Beneficiary Owner Identification Number or Demat Account number or BOID is the identification number unique for every account holder. This is a 16-digit number that allows access to the demat account and helps you place orders and maintain balances.

This number consists of the Depository Participant number is the first 8 digits and the latter 8 digits constitute the account number.

Mirae Asset Sharekhan customers can buy IPO in the Sharekhan app or using the Sharekhan website at any time when the IPO is open for retail investors.

Mirae Asset Sharekhan IPO app uses UPI Payment Mechanism. You are required to have a UPI ID before applying for an IPO using the Sharekhan App. It's easy to get a UPI ID created using the net banking app of any bank you have an account with or by using the BHIM UPI app provided by the government of India.

Steps to Buy IPO in Mirae Asset Sharekhan App

1. Login to Mirae Asset Sharekhan App on your phone
2. Expend menu in top right
3. Click on the 'IPO' link under the 'Equity' section.
4. Choose the IPO and click the 'Apply' button.
5. Fill the order form by entering the quantity, price and UPI ID.
6. Submit the order form and confirm the order.
7. Accept the UPI Mandate using Net Banking or BHIM app.

Note:

• The UPI Mandate (an approval for blocking the fund for IPO shares) is not sent instantly. You may have to wait for a few hours before the Mandate is shown up in your Net Banking App or BHIM App.

Once the UPI Mandate is accepted, the IPO application is submitted to the exchange by Sharekhan. An SMS and Email confirmation is sent to the customer.