Can I buy IPO with discount brokers?

I’m opening broker account with discount broker… can i invest in ipos using discount broker account?

No. Generally, the discount brokers do not provide add-on services like IPO trading.

However, there are also other ways to invest in IPO once you have a DP ID like investing through your bank account using ASBA (Account Supported By Blocked Amount). Anyways, full-service brokers provide a simpler platform to invest directly in IPOs. I hope it helps.

Hi Sanchita,
I see that you are willing to buy IPO from discount brokers and I would like to inform you that generally discount brokers do not offer IPO trading services. You do not need a broker to buy an IPO. You can take help from the bank by downloading the IPOs Blank ASPA form from the BSE/NSE website and submitting the details to the nearest branch. I hope this helps.

Thanks and Regards,
Rutuja Shah
best stock broker online | best online stock trading company

Yes you can buy an IPO with a discount broker. I am with one (finvasia) and they allow that

While it makes it simple to apply for IPO shares through a broker, an IPO does not need the use of a broker. People used to apply for IPOs on paper through banks, and a comparable process is now accessible with some automation.
You can apply for any public/rights issue using their bank account using the ASBA tool for applying IPOs. The steps are as follows:
Download the ‘Blank ASBA Form’ for a specific IPO or fill out the online ASBA Form on the IPO Detail page on the BSE/NSE website. It is important to note that each downloaded program has a specific application number and cannot be reused.
Fill out the downloaded PDF with details such as the applicant’s name, PAN number, demat account number, bid amount, bid quantity, and other vital information.
Submit the application to the authorised branches of the banks in your town where you may submit this form. The list of branches may be found on the same IPO information website where you got the application form.