IPO application and Power Of Attorney

POSTED BY Chandra Mohan ON November 22, 2010 3:02 pm COMMENTS (3)

Hi Guys,

I wish to apply for selected IPO’s and I have a demat account. The problem is I live outside India and my broker always doesnt get the forms in time. I am aware that I can apply online but I need to know if somebody who has a general power of attorney and lives in India can apply for the IPOs on my behalf

TIA

3 replies on this article “IPO application and Power Of Attorney”

  1. Indrajyoti indra says:
    January 9, 2011 at 9:25 am

    Yes you can. I have done the same through POA. I have account in SBI.

    Reply
  2. Siva - Fundsindia IFA says:
    December 6, 2010 at 5:09 pm

    HI Chandra Mohan,

    I never heard anyone execuiny PoA only for IPO Application. As I understand, even if you execute the PoA, the IPO application should carry your application money cheque. In this case who will sign the cheque ?

    Are you going to authorize your PoA agent to sign on your cheques too.

    Secondly, without cheques you can apply thru ASBA mode. But in this case also your Bank should accept for this PoA.

    Considering the Risk and Legal complications better to avoid and open online Trading Account.

    Still you are more interested, consult your lawyers.

    Thanks – Siva

    Reply
    1. Chandra Mohan says:
      December 11, 2010 at 3:23 am

      Hi Siva,

      Thank you very much for your valuable input

      Reply

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