To make the existing public issue process more efficient, SEBI has introduced a supplementary process of applying in public issues, viz. the “Applications Supported by Blocked Amount (ASBA)”.
An ASBA investor shall submit an physical ASBA to the Bank. The Bank shall then block the application money in the bank account specified in the ASBA, on the basis of an authorisation to this effect given by the account holder in the ASBA. The application money shall remain blocked in the bank account till finalisation of the basis of allotment in the issue or till withdrawal/failure of the issue or till withdrawal/rejection of the application, as the case may be. The application data shall thereafter be uploaded by the bank in the electronic bidding system through a web enabled interface provided by the Stock Exchanges. Once the basis of allotment is finalised, the Registrar to the issue shall send an appropriate request to the CB of Bank for unblocking the relevant bank accounts and for transferring the requisite amount to the issuer’s account designated for this purpose. In case of withdrawal/failure of the issue, the amount shall be unblocked by the Bank on receipt of information from the pre-issue merchant bankers through the concerned Registrar to the Issue.
All IndusInd Bank branches are ASBA enabled.
Application Supported by Blocked Amount (ASBA)
ASBA means an application for subscribing to a public issue, along with an authorisation to Self Certified Syndicate Bank to block the application money in a bank account.
Self Certified Syndicate Bank (SCSB)
SCSB means a banker to an issue registered with SEBI, which offers the facility of Application Supported by Blocked Amount. IndusInd Bank is an SCSB and will accept applications under ASBA from its account holders for all public issues.
All IndusInd Bank branches are ASBA enabled. To know the IndusInd Bank branch closest to you please click here
All investors except Qualified Institutional Buyers (QIBs) are eligible to apply through ASBA in public issues.
Information for Investors
Salient features of the ASBA facility are detailed in circular no. SEBI/CFD/DIL/SABA/1/2009/30/12 dated December 30, 2009 available on SEBI website.
ASBA process shall be applicable to all book-built public issues.
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