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ICICI Direct IPO Review - Charges, Easy Steps to Apply Online
ICICI Direct IPO Review - Charges, Easy Steps to Apply Online
ICICI Direct is a full-service broker that avails its customer with services of retail trading and investment service from ICICI securities. ICICI Securities is one of the famous and largest stock brokers in India. It was incorporated on 9 March, 1995 as ICICI Brokerage Services. The company offers a broad range of investment options to the retail and institutional customers.
The ICICI Securities is part of ICICI Group, the India’s top financial service provider offers several banking and other financial services. It offers various online trading and investment services to customers on major level through the ICICI direct platform.
ICICI Direct facilitates their customers by providing a complete set of investment products such as online equity trading, derivatives trading, Mutual Fund & IPO, Fixed Deposit, Bonds, NCDs, Wealth products and more and all of it under one login. It is among the most visited investment portals in India.
Apply for an IPO with ICICI Direct
An individual needs to follow the certain set of steps to apply in an IPO with ICICI.
1. Login to the official website of ICICI Direct.
2. Select the “Trade and Invest” option and then next to “IPO”. It will display the list of IPO’s available.
3. Select on “Go” option of the IPO in which you are willing to apply for.
4. Fill in the quantity and price and then click on “Submit” option.
5. Confirm the application by accepting the terms and conditions.
6. Further, check the order book for the application number and status.
After submitting the online IPO form, the ICICI Direct will further complete all the formalities that are related to the submission of their IPO form simply by using the PoA (Power of Attorney) that are issued by you at the time of account opening.
Apply in SME IPO’s with ICICI Direct
ICICI Bank currently is not offering the online applications for the SME IPOs that are registered at the BSE, SME and NSE emerge exchange. The customer needs to apply for the SME IPO by filling the IPO application form.
Charges for ICICI Direct IPO
ICICI Bank online IPO application is provided for free to all the customers who are holding a three-in-one account. The customers do not require to pay any kind of fee, charges or the taxes to apply for an IPO shares.
Note: The Customer is required to pay the brokerage or the taxes at the time of selling the shares allocated to them through an IPO. The changes occurred are very similar to the time when the shares are bought directly from the stock market.
ICICI Direct is among the most expensive stock broker in India and the brokerage charged are highest in the Industry. The various discount stock brokers such as ProStocks charges up to 60% to 90% less brokerage charged but then it does not offer as its product.
Check the IPO Allotment Status in ICICI Direct
In the IPO allotment process, the shares of the applied IPO are credited to their demat account and then are made available to the customers to sell them on the listing date at the respective exchanges.
Follow the steps to know the status of IPO allotment process:
1. Visit the official website of ICICI Direct.
2. Select the “trade and invest”, then “IPO”, then “History” and then “Order Book”.
3. Further, enter the form date, to data and the status as per the execution. Now, click on “View” button.
4. Find the “IPO Allotment Status”.
Note: The IPO Allotment status on the ICICI Direct website will be further updated only on the shares that are transferred to their demat account (mostly a day before the IPO share listing). In case the customer wants to check the allotment status earlier then please visit the IPO registrar’s website.
Frequently Asked Questions
Yes, ICICI Prudential Mutual Fund is good. It is a reputed fund house offering the direct mutual fund services. By investing in direct schemes, you can save on commissions and charges. These commissions and charges add up to a significant amount in the long-term.
With this facility, If an order remains unexecuted on a specific trade but you are not required to log in again and place the same orders again. ICICI direct will keep submitting the remaining order to the exchange everyday morning.
While an IPO is open for bidding, the customer can place the order for IPO share anytime (24*7) simply by visiting the ICICI Direct website.
The brokerage charged by ICICI Direct is very expensive. The brokerage charges will be reduced by subscribing to ICICI Direct prime or prepaid brokerage plans. The brokerage charged is very high for the novice traders.
A Limit Price is an order to buy or sell shares at the specified price or a better price. The better price for a buy order will be the lowest possible whereas, for a sell order it will be the highest possible. You need to specify a maximum price for a buy order and a minimum price for a sell order. The order will be executed at the specified price or a lower price for the buy orders or a higher price for sell orders.
The online account opening with the Aadhar based digital signature is not provided to the NRIs. The US based NRIs can open an account online. The paperless process takes just 2 days to open an account once the application is submitted.
The Post IPO is closed the allotment process gets completed within the next 5th working days and on the 6th working day the shares are listed on the exchange.
The ICICI Direct account gets automatically deactivated if it remains unused for 6 months. The account will continue to attract charges. So, in case you are planning to deactivate your account for few days or couple of months then it does not make much difference whether it is active or deactivated.
ICICI Direct is an integrated account of trading, demat and bank accounts. In such accounts, all the accounts are linked together to facilitate the customers with the smooth and faster trading. All the accounts are opened altogether at once by filling a single application form.
“Convert to Delivery” (CTD) in ICICI Direct is an option where in the customers can convert your intraday positions (margin buy) into cash delivery. The customer can convert the entire order or a part of it. The customers is required to pay the entire trading value (100% margin) while converting the order.
Only one IPO application is allowed per savings bank account with the ICICI Bank.
The ICICI Direct customers can open a demat account for free of cost. The customers planning to open a ICICI trading account along with the demat account will be charged ₹975 for opening the account.
No, ICICI Direct does not provide trading services in the commodity segment.
Yes, you can withdraw an IPO application while the IPO is still open. Simply visit ICICI direct website, visit the IPO order book for placing a withdrawal request.
The ICICI direct bullet brokerage allows the customers to trade in Intraday for free brokerage. They will square off within 5 minutes by the customer. ICICI does not charge any brokerage for the intraday position squared-off in less than 5 minutes. However, the other charges and taxes will be applicable as per their brokerage plan. This plan is offered on the Intraday Margin plus facility.
ICICI Direct Equity ATM (eATM) is the facility where the customers receive money from selling the shares in 30 minutes into their trading account. In a normal settlement cycle, the money is credited to their T+2 working day excluding holidays.
ICICI Direct Cloud Order facility designed for placing the quick orders. Instead of filling the order form while the market is on, you could prepare and save a number of orders well in advance. Such orders remain in the cloud order queue until you delete them. These orders are not sent to the exchange until they place the order.
ICICI Direct offers both the NSDL and CDSL depositories for the demat account. The customers can select any one of them at the time of opening an account. The ICICI Securities is the depository participant with both the NSDL and CDSL.
In order to convert an Intraday position to delivery (Cash Segment), you need to click on the “Convert to Delivery” (CTD) link on the “Margins Positions” page. You can convert a position in full or part. The CTD would require the full payment of the trading value.
IOC order in ICICI Direct is an abbreviation for “Immediate or Cancelled” order. It is a type of order validity that you have to select while placing a buy or sell order. The other options in order validity are ”Day” and “VTC” (Valid Till Cancelled).