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.
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.
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.
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.
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.
Follow the steps given below for new user registration.
You can click on ‘New User Registration’ option after open the YONO Lite app.
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.
Enter your debit card details and tap on ‘Submit’.
Enter high security password, you’ve received.
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.
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
Time needed: 3 minutes.
Follow the steps given below for apply IPO through SBI YONO Lite app
Click on request option from home page after successfully login
You can click on the IPO (Equity/Rights) option.
On the next screen, you can see the following option.
Now you can click on the Apply IPO option.
Click on “Accept” button after reading the terms and conditions.
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.
Click on “Accept” button after reading the terms and conditions.
You need to choose from individual, employees.
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?
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.
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.
You can view, shares allotted through IPO History option.
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.
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.
SBI smart app or website does not have an option to buy IPO shares.
Source – SBI YONO
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