Kotak Securities IPO Review
Kotak Securities Track Record Of Best Online Stock Broker In India
Kotak Securities IPO Review
The Kotak Securities Limited was a subsidiary of Mahindra Bank that was founded in the year 1994. They provide various stock broking service and distributes various financial products in India. The company is famous for its out of the box ideas over the past years. In other words, they are well-known and well-respected full-service brokerage firm. The company is listed in BSE and NSE is also a depository participant with NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited).
Kotak Securities is a brokerage firm that offers its services across all the financial trading asset classes. It was initially incorporated in Mumbai, Maharashtra. It serves the traders and investors from all nation. The company has earned over 13 lakh active accounts in the present that are managed by the giant and great network of more than 1200 branches that are spread across 177 cities in India.
It was the first stock broker in India that introduced various mobile stock trading app that will easily keep the record and track all the investments of an individual on the go. The firm also introduced the concept of SMS alerts right before the execution of depository transaction.
Kotak Securities IPO Service
Kotak Securities avails its customers through an online IPO application to the customers holding a trinity account i.e. a three in one account with Kotak. It allows online trading service through it. The customers can apply to several IPO’s that are registered at BSE and NSE exchanges.
How to apply in IPO with Kotak Securities?
Kotak allows its Trinity account holders to apply in an IPO through Kotak Securities. The process for applying in an IPO is online only. No offline services for applying in an IPO is provided to the customers.
The customers can apply in the IPO simply and quickly by the online ASBA IPO application process.
Steps to apply in an IPO with Kotak Securities are:
1. Go to the official website of Kotak Securities and click on Login to trade box.
2. Login to your Kotak Security Trading Account.
3. Click on Place order then Primary Market and select IPO.
4. Now, further select ASBA IPO Category and then tap on Accept button.
5. Fill in the quantity and price and then tap on Place Order button.
6. On the next page, fill your personal details and then “Submit” it.
7. Make sure that you hold sufficient funds in your Kotak Mahindra Savings bank account. If not then transfer funds and select the “Submit” button.
8. A confirmation message will be given to you.
The Stock broker will further complete the remaining formalities that are related to the submission of the IPO form simply by using the Power of Attorney that is issued by the customer at the time of account opening.
Apply in an IPO through ASBA by Kotak Net banking
Applying in an IPO becomes easier through ASBA or Net Banking through Kotak Bank. Steps to be followed to apply in an IPO through ASBA by Kotak Net Banking are:
1. Login to Kotak Net Banking with their login credentials.
2. Go to more and then ASBA section from the Navigation Menu.
3. Various options will be displayed, select any one of them as per your requirement.
4. If you are a unregistered customer, then first register yourself by a one time process. You can modify or update the details by clicking on “View/edit Beneficiary Registration”.
5. Click on “Apply now” and a list of current IPOs will appear.
6. Select the IPO you wish to invest in and then select the “Retail Individual Investor” category.
7. Enter the bid detail and submit the form just by clicking on the check box that says you agree to all the terms and conditions.
Apply in SME IPO
This broker allows its customers to apply for the public issues i.e. book building and fixed price online at the National Stock Exchanges i.e. BSE and NSE.
Kotak Securities are not providing online applications for SME IPOs since September 2016. Thus, the Kotak customers cannot apply online for the IPOs offered at the BSE, SME, and NSE exchange. Though, the customers can apply for SME IPO shares by filing the paper application form.
Kotak Securities IPO Charges
Applying in an IPO is free to all the Kotak Securities Customers that are holding a trinity account. They have to pay zero charges, fees or taxes to apply in an IPO shares online. As the shares are allocated to the customers then the selling if shares through Kotak Securities costs brokerage, taxes and fees. The fees is very similar to the fees paid by the customer while buying or selling equity shares through the broker.
Kotak Securities is a full-service stock broker. This broker provides convenience while trading in stocks and making investments through its Trinity account. It provides an online IPO application service to its customers holding Trinity account. It has its offices worldwide such as New York, London, Dubai, Singapore, and Mauritius that makes it easy for their abroad customers to avail services.
Frequently Asked Questions
Yes, Kotak Securities offer online IPO applications to its customers. IPO offers an early opportunity to buy shares of companies that are not previously traded publicly.
Each scheme has a minimum transaction amount. The amount differs from scheme to scheme. The minimum amount is mentioned for each scheme in the scheme information document.
Kotak Securities charge 0.049% (on both side) for equity, currency and commodity futures trading.
Yes, modifications can be done on the online portal and the final amount payable will be blocked by the bank subsequently.
Kotak Securities is a Full-Service Broker and thus the brokerage charged by them is higher than the discount brokers.
Yes, Kotak securities allows to place three orders at different rates.
Kotak Securities charge 0.49% for equity delivery trade. These trades are known as cash and carry trades or CNC.
The customer can apply in an IPO at any time between the IPO open and close date. The online IPO application can be filled and submitted at any time of the day.
A customer can apply up to five application allowed to the Kotak Mahindra Bank Account.
The amount blocked in your bank account supporting the ASBA application cannot be withdrawn till the time of allotment.
There is no charge for opening the demat account with Kotak Securities broker. In fact, there is no amount charged for opening any of the three accounts i.e. Demat, Trading and Bank account.
As per the new process if an individual sells their holdings then they must be sold in the following sequence. First stock you hold as BNST will be sold. Second stocks you hold in the demat account and third stocks you own under Margin finance will be sold.
No, Kotak securities website allows IPO application only to the Trinity account holders.
Yes, the customers can check the Kotak Mutual Fund status online. To check the status of your Mutual Fund investments are: 1. Login to Kotak Securities Account. 2. Click on reports. 3. Visit the mutual fund section. 4. Select Check order status.
Kotak Securities is a Limited firm and is a member of BSE, NSE, MSE, MCX, NCDEX. It is also registered as a depository participant with NSDL and CDSL.
Realized profit is the profit that comes from a completed trade. It means that the trade that has been exited. The realized profit is usually already deposited into the trader’s trading account and can simply be withdrawn from their trading account to bank account.
It charges 0.049% for Intra-day trades. These orders are known as Margin Intraday square-up or the MIS orders. All the open Intraday orders are auto squared-off at the end of each day. Extra leverage can be offered for these trades.
A ledger balance is computed by the bank at the end of each business day. It includes all the withdrawals and deposits to calculate the total amount of money in a bank account. The ledger balance is the opening balance in the bank account next morning and remains all day.
The Kotak Securities mobile application supports iOS, Android, Blackberry, Windows Java Operating Systems.
No, Kotak securities does not provide margin funding.