Application Supported by Blocked Amount (ASBA)

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 IPO/Rights Issue/NCD. 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 

  • Earn interest on blocked funds
  • Instant fund release after allotment
  • Debit only for allotted shares
  • No additional charges.

 

Why ASBA?

  • No need to issue cheques - simply provide your bank account number and sign the application.
  • Funds remain in your account, earning interest until shares are allotted.
  • No refund hassles - your account is only debited for allotted shares.

 

How to Invest Through ASBA

Via SIB Mirror+/SIBerNet:

  • Visit Investment -> Apply for IPO/Rights Issue/NCD
  • Visit Services -> Add Investor details and Accept Terms & Conditions [One Time Registration]
  • Go to Available IPO/RIGHTS/NCD -> Select Issue Type (IPO/RIGHTS/NCD) 
  • Select the respective Public Issue and click on Apply Button
  • Select Investor Details, Investor Category, Debit account number from drop down
  • Enter Bid quantity (Total number of shares required) & Bid price
  • Click on Proceed button
  • Cross check the details and click on confirm button
  • Enter the OTP received in the registered mobile number and click on Submit Button

A confirmation message with application number will auto populate. Application details and status can be viewed by visiting Track Request  -> Applied IPO/RIGHTS/NCD tab.

 

Visit a Branch:
You can also apply for ASBA at your nearest South Indian Bank branch.

To find your nearest SIB branch, Click Here
For a detailed FAQ on ASBA,  Click Here
For related details,  Click here

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