IPO/Rights Application through ASBA (Application Supported by Blocked Amount)
With a large number of companies opting for public issues in the primary market to raise capital, you now have the option to pick and choose and be a part of their market growth. All you need are sufficient fund, a bank account and a Demat account, to get started with these public issues.
ASBA is an investor-friendly way to apply for these IPOs/Rights. The ASBA mechanism ensures that your funds leave your bank account only when you are allotted shares in the public issue.
Benefits of IPO/Rights application through ASBA
- The application amount remains blocked in your bank account till the shares are allotted, while still earning interest, if held in interest-bearing accounts.
- The block will be released immediately upon finalization of allotment.
- Your account will be debited only for the value of number of shares allotted.
- Free of charge
How can I invest through ASBA?
On SIBerNet,
Log in to SIBerNet ->Select Investment ->Apply for ASBA (IPO)->IPO Subscription Request->Select IPO->Enter personal and investment details->Submit the application
You can also visit your nearest branch to avail the ASBA facility.
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.