EbixCash IPO to debut in July. Know how to apply

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

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

Here’s how to apply for an IPO online.

Also read: HMA Agro is raising Rs 480 crore via IPO

How to apply for an IPO through Internet Banking

To apply for an IPO, you must have a demat (non-physical) account, trading account, bank account and UPI ID.

  • Log in with your online banking credentials

  • Click the Application Supported by Blocked Amount (ASBA) tab. At HDFC, one can find investment option. Subscription application through ASBA

  • Next, select the subscription from the subscription menu

  • Enter the applicant’s name and PAN.

  • Provide the bid amount and price.

  • Then, click Submit.

Eligibility Criteria for IPO

  • You must be an investor in accordance with the SEBI Guidelines. At present, four types of investors can invest in an IPO – Qualified Institutional Buyer (QIB), Non-Institutional Buyer (NII), Individual Individual Investor and Employee.

  • You must have a permanent account number (PAN).

  • The bank account must be linked to Demat.