ASBA Online Facility Process www.sbi.co.in
About ASBA :
ASBA is the unique procedure for applying in important public issues. ASBA facility is used for Initial programmes and Follow-on offers which are meant for public (IPO and FPO), Rights Issues, and Debt Issues. Under the ASBA, the funds will go through the continous process to earn interest during the processing period of application , if it is held in an interest bearing account. The respective Bank will mark a lien on the deposit account of the investor to the extent of the application money. The lien will be removed from its place immediately after finalization of the allotment basis. If bid will successful, then the deposit account will be debited and the allotted shares will be automatically transferred to the applicant’s Demat account.
Official Website : https://www.sbi.co.
An applicant can apply through ASBA:
1. This is the from any of the approved categories eligible to apply in IPO as per SEBI guidelines.
2. To maintain a Savings Bank account or Current Account with State Bank of India.
3. It has a Demat account with any of the DPs along with Permanent Account Number (PAN).
4. It has a sufficient credit balance in his or her Savings Bank account or Current account for application money. ASBA facility is not available for any kind of overdraft or loan accounts.
a. The Retail Individual Investor (Individual, trust, HUF, Employee or shareholder who are intrested to applies up to Rs 200,000/-) can also modify, revise or delete the bid within the bidding period.
b. An Investors from all other categories cannot withdraw or delete the application and can modify or revise the bid only for a higher amount.
c. The Multiple applications by a single investor are not at all allowed, however an investor can make five applications from a single deposit account in the name of various persons.
d. The multiple applications by a single investor are allowed for any one.
e. An investor may easily withdraw the application during the bidding period but cannot modify the application.
f. An Investor can make atleast 5 applications from a single deposit account in the name of different persons.
Online ASBA facility :
1. A User may apply electronically without any need of physical application form. The Internet Banking users needs to log on to web portal www.onlinesbi.com and click to e-services> IPO (Equity) ASBA or IPO (Debt) ASBA option. It is not important to have a Demat account with SBI for applying through ASBA. All Customer who are having Demat account with other entities may also apply through the SBI- ASBA facility.
2. All SBI customers, irrespective of the branch where they maintain account, can apply through Internet Banking. Any SBI customer, who has a Savings or Current Account, can register for Internet Banking facility and apply for ASBA.
Capital Market Branch, Mumbai is the Nodal Branch for ASBA.
Contact Address :
State Bank of India
Capital Market Branch
Videocon Heritage (Killick House),
Charanjit Rai Marg,
Fort, Mumbai 400 001
Contact Person : Dy. Manager
Most Important Terms & Conditions :
1. Investor must be from the approved category as per SEBI guidelines.
2. Investor must maintain a Savings Bank or Current Account with SBI.
3. Investor must have Demat account with any of the DP.
4. Investor must have Permanent Account Number (PAN).
5. Investor must have sufficient credit balance in their Savings Bank or Current account for application money.
For More Details ,Click Here: https://www.sbi.co.in/user.htm?action=viewsection&lang=0&id=0,1,21,703