Comment on Zerodha Trader - Installation

Akshay.A commented on 10 May 2017, 12:48 AM

Hi Harshal,
ASBA (Application Supported by Blocked Amount): When an investor applies for an IPO through ASBA, the funds shall be debited from the bank account only in case his application is selected for allotment.

SEBI has made it mandatory for all non-retail clients to apply for IPO’s through ASBA and is in the process of making it compulsory for retail clients too.

An investor can apply for any public/rights issues using his bank account, he’s to submit the ASBA form (available at the Syndicate Bank) after filling the necessary details like his name, PAN number, Demat account number, bid quantity, bid price to his bank giving instructions to block the amount in his account. In turn, the bank will upload the details of this application on the bidding platform. However, the Investor shall ensure that the details are filled accurately in the ASBA form else failing which the form is liable to get rejected.

More on ASBA from NSE here

Check to apply for the HUDCO IPO.

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