No, you cannot buy shares from a new IPO without having a demat account. A demat account is mandatory for holding and trading securities in India. When a company launches an IPO, it offers its shares to the public for the first time. To participate in the IPO, you need to have a demat account with a registered depository participant (DP).

The demat account holds your shares in electronic form, eliminating the need for physical share certificates. This makes buying and selling shares a seamless process. A demat account also ensures that the shares you purchase are safe and secure, as they are held in a digital format.

To open a demat account, you need to submit some basic personal information and documents, such as a PAN card, proof of address, and bank account details. The process of opening a demat account is straightforward and can be done online or in-person through a registered DP.

Once your demat account is opened, you can participate in any IPO that you are interested in. However, there may be other requirements for participating in an IPO, such as a minimum investment amount or eligibility criteria. These requirements can vary depending on the company and the type of IPO.

It is important to note that buying shares in an IPO is a complex process that requires careful consideration. Before investing in an IPO, you should carefully evaluate the company's financials, management team, and growth prospects. You should also consider the risks associated with investing in a new company and whether it fits your investment goals and risk tolerance.

In conclusion, a demat account is mandatory for buying shares in an IPO. It ensures that your shares are held in a safe and secure electronic format, eliminating the need for physical share certificates. To open a demat account, you need to submit some basic personal information and documents to a registered DP. Before investing in an IPO, it is important to carefully evaluate the company's financials, management team, growth prospects, and risks.