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Applying IPO Online using SBI YONO Lite | Eligibility | New User Registration | Cut-off price | IPO Allotment

SBI YONO Lite App

Before we discuss the “How to Apply IPO through SBI YONO“, let us briefly touch upon the “What is SBI YONO App?“.
The Initial Public Offering process starts when a company decides that it wants to sell its shares to the public through a stock exchange.
This is called as the first public invitation in the stock markets.
Buying these IPOs allows the investor an ownership in the company in accordance with the value of the shares owned.

To apply in IPO’s online, an investor has to open an demat or trading account with bank or financial institution that provide this facility.
These days, most national banks Like SBI, HDFC, ICICI etc. and popular stock brokers in India offers facility to apply IPO’s online.

This article aims to explain the process to apply for IPO online using SBI YONO app.

Also Read IPOs Definition | Types of IPOs | Fixed Price vs Book Building | Investors Types | Eligibility 2021

First of all, let’s talk about the SBI YONO app.
State Bank of India (SBI) provides an automated digital banking platform called YONO – You Only Need One.
This app allows customers to do a range of financial services.
SBI customers can check their transaction, make an FD, etc. are the basic banking operations customers can do.
Now following Products and Services of SBI Securities are available on YONO as per the Phase 1 release.

  • You can open a new Demat & Trading account.
  • You can link your existing Demat and trading account.
  • Manage and Track your Portfolio.

Read Sovereign Gold Bond : Best Returns on Gold Investment | 2020-21 Dates

Eligibility – What are the requirements for applying IPO online?

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  • Resident Indian individual.
  • The investor can be from any of the approved categories eligible to apply for IPO, as per SEBI norms.
  • Demat account with NSDL or CDSL.
  • Valid Permanent Account Number (PAN).
  • The investor can maintain a Internet enabled Savings or Current account with SBI.
  • The investor can have sufficient clear credit balance in his/her account to block funds to the extent of application money.
    The total bid amount for the application will remain locked until the allotment is done. The investor cannot utilize the money during the locked period.
  • The investor can apply only at cut off price which is the higher of the bid price.
  • You need to add the applicant using the SBI net-banking before applying IPO through Lite App.
    The SBI YONO app does not provide any facility to add new applicant.

Read How to Add IPO Applicant in SBI?

IPO through SBI YONO App

The SBI offers mobile banking services as well where you can get numerous services via the app.
There are a three mobile banking app available such as SBI Lite, SBI YONO and SBI YONO Business.

Also Read IPO through UPI – Google Pay, BHIM | UPI Registration

YONO SBI vs YONO Lite vs SBI YONO Business

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YONO SBI
SBI YONO is customized app consisting of a variety of choices in terms of investment like Mutual Funds, Insurance etc., which you can apply directly without going to the SBI Branch.

YONO Lite
It is a new version of SBI Anywhere Personal , earlier used for accessing net banking in app version on smartphones.
A secure, convenient and simple to use application with a host of features to assist users manage your finances on the move.

SBI YONO Business
This app is basically for any non-individual customer, whether it is a small business enterprise, firm, institution, trust, large corporation.
Any Corporate maintaining an account with any SBI’s branch can avail YONO Business.
This platform enables you to achieve all of your standard corporate banking needs.

YONO App provides ability to Initial Public Offer (IPO) and Follow-on Public Offer (FPO) subscription.
Here we are going to explain How to apply IPO online through YONO Lite App Version 5.3?

The YONO Lite app can be downloaded from Google Play Store on all the Android based phones and it can be even downloaded from Apple app store on iOS platforms.

If you are a new user then let’s talk about registration of the account before go ahead.

There are various options through which a user can register on SBI YONO App.
If you are an existing customer, You can use your internet banking credentials for first-time login and registration on YONO.
If you do not have internet banking user-id and password,
You can generate a temporary internet banking password using your debit card.

Read How to Apply for IPO and FPO in SBI (ASBA)? | Eligibility | Benefits | Withdrawal Conditions

New User Registration through SBI YONO Lite App

Follow the steps given below for new user registration.

1.New User Registration

You can click on ‘New User Registration’ option after open the YONO Lite app.

2.Enter the account details

Enter the asked information such as account number, CIF number, branch code, registered mobile number, facility required and in last field enter captcha text.
In ‘Facility Required’ field, must select ‘Full Transactions Rights’ option. Subsequently, touch ‘Submit’ option.

3.Debit card details

Enter your debit card details and tap on ‘Submit’.

4.OTP

Enter high security password, you’ve received.

5.Temporary credential

Now wait for temporary credential, which will be sent to your registered mobile number.

Let’s talk about the cut-off price before applying IPO.

Also Read Benefits of IPO for Investors in India : Why Should You Invest in an IPO?

Cut-off price vs Floor Price

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A cut-off price is the offer price, finalized by a organization, which could be any price within the price band.
It is dissimilar from a floor price, which is the minimum price at which bids can be made.
The book-building issuer is needed to indicate either the price band or a floor price in the red herring prospectus.
The real discovered issue price can be any price in the price band or any price above the floor price.
This issue price is called “cut off price”.

Also Read Fixed Price vs Book Building

How to Apply IPO through SBI YONO App?

Time needed: 3 minutes.

Follow the steps given below for apply IPO through SBI YONO Lite app

  1. Request

    Click on request option from home page after successfully login

  2. IPO (Equity/Rights)

    You can click on the IPO (Equity/Rights) option.

  3. Apply IPO

    On the next screen, you can see the following option.
    Apply IPO
    Edit IPO
    IPO History
    Now you can click on the Apply IPO option.

  4. Terms and Conditions

    Click on “Accept” button after reading the terms and conditions.

  5. Now Select the IPO

    This page will provide you with a list of companies issuing IPO at that time with open and closing date of bidding.
    You need to choose the IPO and then click on Go button.

  6. Accept

    Click on “Accept” button after reading the terms and conditions.

  7. Select the Category

    You need to choose from individual, employees.

  8. Select the Applicant Name

    If you have added yourself as an applicant then select applicant name.
    Once the applicant is selected, other information like PAN and depository name will be automatically populated. then click on continue option.
    You can not add new applicant using the Lite App.
    Also Read How to Add IPO Applicant in SBI?

  9. Enter IPO details

    Now enter the IPO details like quantity, bid price etc.
    Ticking on “Cut-off price” means that you approve to accept the allotment at the price decided by the organization.
    You need to choose the account.

  10. Click on “Submit” button.

    You will receive the reference number after successful submission of request.
    This page will have the list of IPOs successfully applied and
    you can verify the IPO details.

  11. Select the IPO History.

    You can view, shares allotted through IPO History option.

Also Read What is SME IPO? | SME IPO Vs Regular IPO | How to Invest in SME IPO?

Important points about IPO Allotment

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  • While applying for an IPO through YONO Business the amount will be debited from your account to the extent of successful allotment only at the time of allotment.
  • Until such allotment, the amount will remain blocked in your account.
  • The amount blocked in the account, will continue to earn interest during the entire IPO or FPO application processing period, if held in an interest-bearing account.
  • This app can also shares allotted through the IPO/FPO will be reflected in Current Holding.

Also Read Oversubscribed IPO: What happens if the IPO is oversubscribed?

How To Edit/Modify for IPO through SBI YONO?

The investor can modify or edit the quantity or price in the bid using the IPO edit option the bid that is available.
Although, the complete process of modifying of revising the bids shall be ended within the date of closure of the issue.

  • Click on “Edit IPO” Option.
  • You will be presented with a list of IPOs. Choose the IPO you wish to edit. Edit your details and click on “Submit” button.

Also Read Listing Gains in IPO | Highest Listing Gain IPO in India

IPO Withdrawal

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You should remember always that you can withdraw only during the bidding period.
However, YONO Lite App does not have an online withdrawal option till now, Therefore, you need to contact the SBI bank.

How to Apply for IPO through SBI Smart?

SBI smart app or website does not have an option to buy IPO shares.

Also Read Undersubscribed IPO – What Happens if the IPO is Undersubscribed?

Source – SBI YONO

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