If you are looking for loan to apply for an IPO from a bank, than you need not look further as now brokerage houses are also providing loans to fund IPOs and FPOs. The same will be amply clear after seeing the below screenshot which has been sent by SMCglobal where they are allowing funding for ONGC FPO. One has to just pay Rs 1450/- till the allotment and has to square off the transaction on the day of listing. Alternatively is it a case where ONGC FPO is not getting due subscription. As of now ONGC FPO has been waitlisted due to ongoing trouble with China on exploration in South China sea and the FPO may see some light of the day after 20-30 days. For ONGC FPO SMCglobal will be providing a matrgin funding of Rs 2500. They have clubbed a number of offers if one opens an account with them. One can read the fine print below. However as per our advice one can avoid ONGC FPO.
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