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ASBA (Application Supported By Blocked Amount)
ASBA is 'SIMPLE', 'SAFE' & 'SMART' way of Application
If you are a customer having Savings / Current account with bank, you can submit your ASBA application for public issue in any Central Bank branch or through internet banking.
ASBA is a supplementary process for applying in public issues. ASBA facility can be used for Initial and Follow-on Public Offers (IPO and FPO), Rights Issues etc. Under ASBA, funds will continue to earn interest during the application processing period, if held in an interest bearing account. Bank will mark a lien on the deposit account of the investor to the extent of the application money. The lien will be removed after finalization of the basis of allotment. If bid is successful, the deposit account will be debited and the allotted shares will be transferred to the applicant’s DEMAT account.
An Investor can apply through ASBA, in case:
Investor is from any of the approved categories eligible to apply in IPO as per SEBI guidelines.
Investor having a Savings Bank or Current Account with Central Bank of India.
Investor has a DEMAT account with any of the DPs along with Permanent Account Number (PAN).
Investor has sufficient clear credit balance in Savings Bank or Current account for application money. ASBA facility is not available on any type of overdraft or loan accounts.
Note: Multiple applications by a single investor are not allowed, however an investor can make 5 applications from a single deposit account in the name of different persons.
ONLINE ASBA facility
Internet banking users can apply electronically without the need of any physical application form. Log on to https://www.centralbank.net.in and go to Main Menu->ASBA->Application for Bid->Submit application as per screen guidelines. It is necessary to have a DEMAT account for applying through ASBA. Customer having DEMAT account with bank other than central bank can also apply through the facility.
All customers, irrespective of the branch where they maintain account, can apply through Internet Banking. Any customer, who has a Savings or Current Account, can register for Internet Banking facility and apply for ASBA.
Important Terms & Conditions
1. An investor should be from the approved category as per SEBI guidelines.
2. An investor should maintain a Savings Bank or Current Account with Central Bank of India.
3. An investor should have DEMAT account with any of the DP.
4. An investor should have Permanent Account Number (PAN).
5. An investor should have sufficient clear credit balance in the Savings Bank or Current account for application money.
Contact Details:
Capital Market Services Branch (4082), Mumbai is the Nodal Branch for ASBA.
Address:
Capital Market Services Branch, MMO Building Ground Floor, M.G. Road, Fort, Mumbai.