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What are the other alternatives for applying in IPO other than 3-in-1 account?

If you don't want to open a 3-in-1 trading account and don't want to pay heavy brokerage, the second option for you is to open a 2-in-1 account, with any discount broker. When you open 2-in-1 account you will get trading and demat account. Now using this demat account number, you can apply in any open IPO.

Some banks like SBI, Axis will allow you to register your demat account details one time and allow you to use it for any future application. You can add up to 5 demat account information with these banks. Where banks like ICICI, HDFC will not allow you to save your demat information and each time you apply for IPO, you need to manually enter your demat information.

Note: You can apply through any number of applications, providing each application should be unique with different PAN numbers.

Advantage: while selling your allocated equity shares, you need to pay very minimum brokerage. Some discount brokers are providing free delivery trading. In such case, you will sell your script without any brokerage.

Disadvantage: You need to apply your application via ASBA process.

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