Detailed procedure of applying in IPO through ASBA ?

Under ASBA facility, investors can apply in any public/ rights issues by using their bank
account. Investor submits the ASBA form (available at the designated branches of the
banks acting as SCSB) after filling the details like name of the applicant, PAN number,
demat account number, bid quantity, bid price and other relevant details, to their
banking branch by giving an instruction to block the amount in their account. In turn, the
bank will upload the details of the application in the bidding platform. Investors shall
ensure that the details that are filled in the ASBA form are correct otherwise the form is
liable to be rejected.

 

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