ASBA
ASBA - Application Supported by Blocked Amount. Apply for IPO through Internet Banking or Mobile Banking, UPI channels along with supporting banking facility through Syndicate Members / Brokers
ASBA
ASBA - Application Supported by Blocked Amount. Apply for IPO through Internet Banking or Mobile Banking, UPI channels along with supporting banking facility through Syndicate Members / Brokers
Features
Bid for IPOs at a fixed price
Apply either through SCSBs (Self Certified Syndicate Bank) like Equitas Small Finance Bank or through a Syndicate Member
ASBA FAQs
An Investor who applies through ASBA is known as ‘ASBA Investors’ - ASBA investors must provide accurate information in the application regarding
PAN card number
DP ID (depository participant identification) number
Client identification number or the Clients ID from your broker’s account
Bid Quantity
Bank account number
The amount remains blocked in your bank account for the IPO application.
There is no loss of interest. The account continues to earn interest on the blocked funds. The blocked fund is debited post allotment and then the interest stops on the debited part.
There is no need to wait for your refund cheques/ECS credits.
Bank will unblock the application money from the frozen accounts in case the application is rejected or there is no allotment or the issue is withdrawn. For this, the Bank will receive instructions from the registrar of the issue.
The blocked amount is considered while calculating Average Monthly Balance (AMB) in the account.
The application form is simple and easy to fill.
The applicant need not have to submit any physical documentation to avail of this facility.
This facility is absolutely free.
Client entire bank balance is not blocked, but only an amount equivalent to his/her application money is blocked in bank account. Balance amount can be used by client.
Modes of ASBA IPO Investments
Online ASBA over IB / MB
UPI ASBA for Retail Investors
Offline applications acceptance
Online ASBA over IB / MB
Investors can use Equitas Internet/Mobile Banking to apply for IPO digitally. Investors need to add the Demat A/c details as a one-time activity and then proceed to apply for available IPOs. Online ASBA is the most convenient mode of applying for IPO without any physical application.
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