How to Apply IPO through UCO Bank?

Published on Friday, June 10, 2022 by Chittorgarh.com Team

UCO Bank allows its customers with net-banking access to invest in IPOs online (through the ASBA facility). Retail customers can use both the online and offline modes to apply for IPO through the UCO Bank.

UCO Bank's online ASBA IPO Application facility is available to all its customers free of cost. Using this facility you could apply for IPO shares instantly using the funds in your UCO bank saving bank account and your demat account with any broker.

UCO Bank IPO Apply Online

The UCO Bank IPO application is a simple process and can be processed within a few minutes. Before beginning the IPO application process, UCO Bank account holders must have the following information on hand: PAN card number and Demat account number (16 digits).

Following are the steps to apply for IPO online through UCO Bank:

1. Open the UCO Bank eBanking website and log in.
2. Click on ASBA.

   

3. Click on the ASBA IPO Detail option and check upcoming IPO details including lot size, opening and closing date, price, etc.

   

4. Click on the Bid Cum Application option (After checking upcoming IPO details).

   

5. Fill Bid Cum Application Form:
   • Select the IPO in which you want to invest.
   • Select Depositary Participant CDSL or NSDL.
   • Enter DP ID, Client ID and PAN number.
   • Debit account number.
   • Type of customer:

     Select IND RII (Retail Investor) if you are investing below Rs 2 lakhs and 'NII'; if above Rs 2 lakhs.

   • Enter Bid Number

     There is a checkbox for Cut-Off Price. The cut-off price is useful in Book Building issues. The companies set a price range for these issues. Investors must choose a price within that range. At the time of allotment, the corporation sets a price, and investors who bid for a price equal to or higher than the set price are given shares.

   • Select Bid at cut off price

     A cut-off price is an option given to retail investors. Opting for a cut-off price means you are giving consent to buy the shares at a price decided by the company during allotment. It saves you from a bidding race and ensures that you're eligible for allotment at the price decided by the company.

   • Enter Number of Bids

     You can submit up to 5 applications for each IPO from a single account, each with different details. Enter the number of shares you wish to apply for. Every IPO has a minimum amount of shares, also called a market lot, to bid for and to bid more you need to do it in multiples of the minimum quantity. So if the minimum quantity is 15 shares, you can bid for 15, 30, 45 etc.

   

6. Check details, Enter your ID and Transaction Password

   

7. The IPO Application process is completed.

   

UCO Bank IPO Apply Offline

For offline IPO Applications, customers need to fill out a retail e-banking request form and send it to their local UCO Bank Branch.