SEBI has been specifying the investors who can apply through ASBA. In public issues
w.e.f. May 1, 2010 all the investors can apply through ASBA.
In rights issues, all shareholders of the company as on record date are permitted to use
ASBA for making applications provided he/she/it:
_ is holding shares in dematerialized form and has applied for entitlements or additional
shares in the issue in dematerialised form;
_ has not renounced its entitlements in full or in part;
_ is not a renouncee;
_ who is applying through blocking of funds in a bank account with the SCSB

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