@RDJIPO 1. Max IPO funding per person is rs 1 crore. But charges are very high. I heard 14%-25% interest rates as that is charged for just 2-4 days. There could be some processing fees as well.
2. Mostly NBFC will ask you to open bank and dmat account of their choice and take PoA.
3. 50,000 is very short amount to secure IPO funding.
Even if you have 2 lakhs as initial amount and secure funding at 14% rate, its not useful in most of IPOs. Only good and less subscribed IPOs (like bajaj housing) may work but even for bajaj bHNI allotment ratio was 1/10. So if 10 such IPOs come in a year, you can make some amount. Else you will loose interest more that gain you make. And I don't thibk Bajah housing type IPO will come every month.