Ebixcash said that it plans for an IPO (initial public offering) in July. Ebixcash eyes to raise ₹6,000 crore. Ebixcash is a subsidiary of Ebix Inc, an US-based tech company, listed on Nasdaq.

IPO is an event where shares of a particular company are sold to retail investors and institutional investors.

Here’s how you can apply for IPO online.

Also read: EbixCash enables UPI for G-20 travellers visiting India. Know how it works

How to apply for IPO via internet banking

To apply for an IPO, one is required to have a demat (dematerialised) account, trading account, bank account, and UPI ID.

  • Log in with your internet banking credentials
  • Click on the Application Supported by Blocked Amount (ASBA) tab. In HDFC, one can find the option Invest. IPO application through ASBA
  • Next, select the IPO from the IPO list
  • Enter the applicant name and PAN.
  • Provide the bid amount and price.
  • Then, click on submit.
Eligibility criteria for IPO
  • Need to be an investor as per SEBI guidelines. At present, four types of investors can invest in an IPO - Qualified Institutional Buyer (QIB), Non-Institutional Buyer (NII), Retail Individual Investor, and Employees.
  • Must have a Permanent Account Number (PAN).
  • Bank account must be linked to Demat.
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