Yes. An IPO application and the demat account that receives the shares don't have to sit with the same company. If you apply through your bank's net banking IPO (ASBA) section, you can enter your Rupeezy demat account details on the application form, and any shares allotted to you are credited to your Rupeezy demat account.
This is useful when you hold a bank account somewhere that offers IPO applications through net banking, but you don't hold a demat account with that bank.
What do I enter on the bank's application form?
The form asks which demat account should receive the shares. Enter:
- Depository — NSDL. Rupeezy demat accounts are held with NSDL, so pick NSDL if the form asks you to choose between NSDL and CDSL.
- DP ID —
IN303420. This is the same for every Rupeezy demat account. - DP Client ID — this one is unique to you.
To find your DP Client ID, tap your profile in the Rupeezy app and open View Profile; it's shown next to your Client Code. It's also in the Profile section of Dock — see where can I find my account details.
Some net banking forms ask for a single 16-character demat number instead of two separate fields. In that case enter the DP ID and DP Client ID together, with no space between them.
Will the application show up in the Rupeezy app?
No. The Applied IPO screen in the Rupeezy app tracks applications placed through Rupeezy. An application you made on your bank's portal doesn't appear there, even though the shares will land in your Rupeezy demat account.
Track that application where you made it — your bank's IPO or ASBA section — or on the registrar's allotment-status page for that IPO. See how do I check my IPO application status for the in-app route that does apply to IPOs you applied for on Rupeezy.
Things to keep in mind
- The demat account and the bank account must belong to the same person. A demat account in a different name — even a family member's — is a common reason for an application to be rejected. See why was my IPO application rejected.
- Check the DP Client ID character by character before submitting. The bank cannot fix a wrong demat number after the issue closes, and the application can be rejected or the shares held up.
- Your money is blocked, not debited. That's how ASBA works, and it's the bank that places and releases the block — so refunds and un-blocking are the bank's to handle, not Rupeezy's.
- Applying on Rupeezy itself works differently — those applications go through UPI, not net banking. See can I apply for an IPO without UPI and how do I apply for an IPO.
- Once the shares are credited, they behave like any other holding in your Rupeezy demat account — they appear in your holdings and you can sell them from the app.