How To Apply IPO Through SBI Bank?

State Bank of India- An Overview

The multinational and financial service body, State Bank of India is the largest and biggest public banking sector. Having its headquarters in Mumbai, it stands among 236th in the Fortune Global 500 list in 2019.

It serves the country for Banking and Financial Services. It is owned by the government of India and provides services like Online Trading, personal net Banking, Corporate Net Banking, Merchant Acquiring Business, Online tax, Challan printing, etc.

IPO, known as the Initial Public Offering process, is the process of conversion of an unlisted company to a publicly listed company that depends on the recognized stock exchange.

SBI received its IPO after the response with a subscription of over 26 times in the capital market. The IPO shares a fixed price band of Rs 750-755 of the SBI Card.

It is mandatory for the applicant to have Accounts, transaction rights, and Demat Account with Depository participation with his/her residential Indian Individual with State Bank of India to apply for IPO online.

  • The investors have to abide by the SEBI Guidelines to get approved with Demat Account with any DP’s and PAN numbers.
  • Along with that, the investor should have sufficient credit balance in a bank account in which the application amount is blocked in the funded deposit account.

Now, that the SBI IPO, who can apply and requirements to apply for IPO is discussed, the article will further talk about how to apply for IPO through SBI Bank.

SBI Overview
SBI Overview

How to Apply for IPO Through SBI Bank?

Applying for IPO through ASBA using SBI Net banking: –

ASBA stands for Application Supported by Blocked Amount, which contains an authorization to Self- Certified Syndicate Bank. It is an application that blocks funds in the applicant’s bank account, either saving or Current.

  • The advantage of applying for an IPO through ASBA is that the applicant’s account can earn interest with lien marked on it and the application amount is not debited.
  • If the application is done through ASBA, after the application is selected for allotment based on the finalization of the allotment or the issues is withdrawing or failed, then only the application money of investor will be debited from the bank account.
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The SBI Net banking allows the applicant to earn interest in the application process after the funds are blocked under ASBA in their accounts. The applicant will be marked lien on the deposit after the finalization of the allotment.

After the successful bidding, the company will transfer to the applicant’s Demat account and the deposit account will be debited in the company.

There is a procedure to buy online IPO in SBI bank where the list of banks has been notified by SEBI which would be helpful to the retail investor to apply online for any IPO.

Known as Self Certified Syndicate Banks, they allow applicants to apply through SBI banking.

Follow the Below-mentioned Steps to Apply from SBI Bank:

1. Enter the URL to login to SBI Website

  • The applicant can enter URL in your web browser to login to SBI Website. Look at the personal banking section and click on it.
SBI Website
SBI Website
  • As the personal Banking page is loaded on the desktop, click on “Continue to login”.
SBI Website Personal Banking page
SBI Website Personal Banking page
  • Fill in the net Banking User ID and password on the login page.
SBI Website Personal Banking User Login
SBI Website Personal Banking User Login

2. Click on e-Services Tab

Click on the “e-services” tab present in your accounts page.

SBI Website e-Services Tab Interface
SBI Website e-Services Tab Interface

3.  Click on ‘Demat and ASBA Services’

On the left side of the screen, there would be menu displaying “Demat and ASBA services”. Click on it.

SBI Website Demat and ASBA Services Option
SBI Website Demat and ASBA Services Option

4. Click on “IPO Equity”

  • There would be 3 options like “Demat Services”, “ASBA Services” and Other services displayed on “Demat and ASBA services on the page.
SBI Website IPO Equity Option
SBI Website IPO Equity Option
  • After clicking on the “IPO Equity” under the “ASBA services”, read the terms and conditions and proceed further by clicking on “Accept”.
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5. Select the Desired IPO from the list

There would be list of companies issuing IPO on the IPO Equity –ASBA page. It will also have open and close date of bidding. Click and select the desired IPO to apply for.

SBI Website IPO Selection Option
SBI Website IPO Selection Option

6. IPO Details to be Entered

The applicant should enter the essential details such as minimum bidding, the quantity of IPO, price of each share, and opening and closing dates. Also, select the category of the applicant as Individual, employees, or Shareholders.

SBI Website IPO Details
SBI Website IPO Details
  1. There is an option of adding a new applicant by clicking on the link provided.
  2. The “cut-off” price provided in the checkbox is useful for retails investors for book building issues.
  3. By clicking on the “Cut-off price” the investor accepts the price allotment provided by the company. The investor has to bid within the provided range.
  4. After entering the details, click on the “Submit” button.
SBI Website IPO Bid Price, Quantity Option
SBI Website IPO Bid Price, Quantity Option

The website will direct you to the “IPO confirmation page” after submitting the details. The page will also have the list of IPOs applied successfully, where the investor can check for the “name of the company” applied for.

Further, he can lien marked amount and marked status. The IPO will be applied successfully after the confirmation of the details.

Read Also: Upcoming IPOs List Calendar – Running & New IPOs In India 2020


The articles explain the procedure of applying for IPO through various SBI networking. It is easier to access and apply for an IPO. Applying for IPO through SBI net banking is easy to do through the website. It is user friendly and budget-friendly. It is easy for an applicant to apply for an IPO.

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