While applying via UPI is popular for its mobile-friendliness, applying through ASBA (Application Supported by Blocked Amount) via Net Banking is often considered the Gold Standard for serious investors. It is the most reliable method for large applications (above ₹2 Lakhs) and is less prone to the technical mandate delays that can sometimes happen with UPI apps.

In 2026, almost every major bank in India (known as SCSBs Self-Certified Syndicate Banks) has a dedicated IPO section in their portal. Applying this way is secure because you are dealing directly with your own bank, and your money never leaves your sight. Here is exactly how to do it.

What Information You Need Ready

Before you log in, keep these three details handy:

PAN Number: Your Permanent Account Number.
DP ID & Client ID: This is your 16-digit Demat account number.

For CDSL (e.g.,motilaloswal): It’s a 16-digit numeric code.

For NSDL: It starts with 'IN' followed by 14 digits.

Bank Balance: Ensure you have enough clear funds (not including overdrafts or uncleared cheques).

5 Steps to Apply via Net Banking (Online ASBA)

While the menu names vary slightly by bank (SBI, HDFC, ICICI, etc.), the process remains the same across all of them:

Example (SBI): Click on e-Services > IPO (Equity).

Example (HDFC): Click on Requests > IPO Application

Step 2: Select the IPO

A list of all Active IPOs will appear. Choose the company you want to invest in. Read the Terms & Conditions and click Accept.

Step 3: Enter Your Demat Details

This is the most critical part. You will be asked for:

Depository: Select NSDL or CDSL.
DP ID & Client ID: Enter your 16-digit Demat number carefully. Most banks allow you to save these details as a profile so you don't have to type them every time.

Step 4: Place Your Bid

Enter your bid details:

Quantity: Must be in multiples of the Lot Size.
Price: Tick the Cut-off Price box (recommended for Retail). If you are an HNI, you must enter a specific price.
Note: You can place up to 3 different bids, but only the highest one will be blocked.

Suggested read: How to apply for IPO under HNI category

Step 5: Confirm & Block

Review your details and click Submit. You may receive an OTP on your registered mobile number. Once confirmed, the bank will instantly block the funds. You will receive an Application Number for your records.

ASBA vs. UPI: Which should you choose?

Feature

ASBA (Net Banking)

UPI (Mobile App)

Best For

Large Applications (>₹2 Lakhs)

Small Retail Applications (<₹2 Lakhs)

Reliability

Very High (Direct Bank Link)

High (Depends on UPI App/Server)

Limit

Generally up to your Bank balance

Up to ₹5 Lakhs (in 2026)

User Experience

Desktop/Web friendly

Mobile friendly

Frequently Asked Questions (FAQs)

Can I apply for an IPO using a Joint bank account?

Yes, but ensure the first holder of the bank account is the same person who owns the Demat account.

I submitted my ASBA at 6 PM. Is it counted?

Bids placed after-market hours (usually after 4:00 or 5:00 PM) are considered Offline Bids and are sent to the exchange the next morning.

What if I make a mistake in my DP ID?

Your application will be rejected by the registrar. Always double-check your 16-digit Demat ID before submitting.

Can I modify my ASBA bid?

Yes. You can go back to the same IPO History section in your net banking and select, modify to change the price or quantity.

How do I know my bid was successful?

You will receive an SMS from the stock exchange (NSE/BSE) at the end of the day confirming that your bid has been Uploaded.

Can I use ASBA for someone else's IPO?

Technically, some banks allow Third Party ASBA (using your bank to apply for a child's PAN), but most brokers and SEBI now mandate that the PAN on the Bank and Demat account must match.

Is there a Cut-off time on the last day?

Yes. Most banks stop accepting ASBA applications around 2:00 PM to 3:00 PM on the final day of the IPO to ensure they can process everything.

Why is the Amount Blocked more than the floor price?

Because you chose Cut-off, the bank blocks the maximum amount (the Cap Price) to ensure your bid stays valid.

Can I apply for SME IPOs through Net Banking?

Yes, most major banks support SME IPO applications via their ASBA portals.

Do I get an application number for ASBA?

Yes. Always save or screenshot the Acknowledgement/Application Number provided at the end of the process. You will need it to check your allotment status later.

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Apply IPO Through ASBA: Step-by-Step Guide with Motilal Oswal