At Kotakstreet.com you can apply for IPOs without going through the tedious process of application filling, cheque signing and submission. All you need to do is fill in the requisite details in the online screens of IPO application. We will do the paperwork for you on the basis of the information provided by you. This is done on the Authority of the Power of attorney executed by you in favour of Kotakstreet.com.
Accessing IPO screens on Kotakstreet.com:
Clicking on the IPO menu in the trading section of Kotakstreet.com, you will be taken to the IPO section.
Transfer of Funds for investing in IPOs:
On pressing the "Funds Transfer" button on the menu bar of the IPO section, you will be taken to the Funds Transfer Payment Gateway screen. Here, you need to select the bank from where you will be transferring the funds into Kotakstreet.com's account.
You will also have to select the "Payment Type" as "Mutual Fund/IPO".
Note that Funds transferred for Settlement Payment and/or Margin Money Payment is not available for placing orders in the IPO section. Margin available in the equity trading sectionwill not be available for placing orders in the IPO section.
Placing of Bids:
Clicking on the "Order Placement" menu takes you to the "Order Placement" screen. This screen provides you the details of the IPO and allows you the facility of placing your Bids. You can place your Bid at Cut-off Price (for retail investors ie Bids with quantities upto 1000 shares) or at Limit prices. For Bids at Limit prices, a maximum of three options are accepted. Note that only one of the three options will be considered by the Registrars at the time of the allotment. The Bids are accepted subject to the Funds being available. Note that the Bid with the maximum total value out of the 3 options (in case of limit bids) is considered for comparison with Available Funds.
After filling in the required information and pressing the "Place Order" button, you will be provided with "Client Details" where you will be required to fill in certain mandatory fields. After filling in the same and pressing the "Submit" button, you will receive a confirmation of the receipt of Bid details by Kotakstreet.com for further processing and an unique internal Reference Number.
Note that only one Order per client is allowed.
Modification of Bids:
Bids once placed can be modified/cancelled till the cut-off time for placement of bids on Kotakstreet.com on the last day of the issue. Such cut-off time will be declared by Kotakstreet.com in the IPO section on the day prior to the closure of the issue.
For modification of the Bids, click on the "Order Book" menu. This takes you to the "Order Book" screen where you can see the details of the Old Bid and fill in your new (modified) Bid. On clicking the "Revise Order" button, your modified order is updated for further processing (subject to Available Funds)
Cancellation of Order:
Order placed earlier can be cancelled through the "Order Book" Screen by pressing the "Cancel Order" button.
Request for refund of money into your bank account can be placed through the "Funds Request" screen which is activated on pressing the "Funds Request" menu. Here you can indicate the amount (not exceeding the Available Funds) that you need to be transferred back into your bank account. Note that such transfer will be made during the course of the following business day.
On the day following the closure of the Issue, the Application Number as well as the unique NSE Order Number will be displayed in the Order Book for your reference.
For details on allotment kindly refer the 'Prospectus Details' provided in the order placement screen.