Karan Patheja, New Delhi: As India's biggest IPO Anil Ambani's Reliance Power hits the market, it's not just the investors, but even the common man is interested to have a slice of the action.

Here are instructions on the basics on 'how to apply for an IPO'. 2008 could be the biggest year ever for the IPO market with more than 140 issues on offer.

So how can one reap the benefits — here are some simple do's and dont's to apply for an IPO. For starters, begin by filling a physical form first, but one has to be very careful as any mistake while filling the form— could result in one's bid being rejected.

For better understanding following is the detailed account of the step by step process.

• The first is filling one's name and address.
• Followed by one's PAN number.
• One should make sure one ticks the right category of investor.
• The Name & ID of the Depository Participant- or the entity with whom one has their demat account is the most important part.
• One's beneficiary account number or demat account number.
• One should decide on the number of shares one is bidding for.
• And one's bidding price—usually most analysts suggest the cut off price.
• And a cheque/draft number in case one is applying offline.

Filling one's form online, definitely has it's advantages-all one needs to do is login through one's trading account, select the IPO, transfer funds from one's bank and select the number of shares one would want to apply for, with one's bidding price.

The shares will be automatically credited to one's demat account in case of the allotment.

In 2007 the best performing IPO was orbit corporation which gave a mind-blowing return of 680%.

The line-up in 2008 looks even more promising starting with the country's biggest IPO on offer —Reliance Power.

So all one needs to do is follow these simple steps, do detailed research and the IPO boom could result in one making some serious money.