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Minors can participate in IPO through ASBA net banking process or with UPI. Check out both the processes on how to apply for IPOs under minor’s name.
Net banking ASBA IPO Apply
If the minor has enabled net banking facility to his bank account, he can submit IPO applications online with their bank using ASBA net banking route. To invest in IPO via net banking, the bank account and Demat account must be in a minor’s name only.
Apply for IPO via UPI for minors above 15 years
Minor child who are above 15 years can create a UPI ID for their bank account. Once done, minors can bid for any IPO with their stock broker using UPI as a payment method. All you need is a valid UPI ID and a demat account and once the bid is submitted and UPI mandate is accepted, the application amount will be blocked.
Submit physical forms for IPO apply
If the bank does not provide net banking facility to minors, you can submit physical paper-based IPO application form to your bank to place IPO bid.
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