What are the basic requirements to apply in an IPO using ASBA process?
Following are the basic requirements for applying through ASBA payment mode: • Only retail individual investors have ASBA facility at this time. • The bank where investor has account should be a ‘Self Certified Syndicate Banks (SCSBs). The list of the SCSB’s will be available soon on SEBI’s website. For more detail about SESB’s, read the questions below. • An investor can only apply at cut-off price. Once submitted the bids cannot be revised. Investors are allowed to withdraw the application before issue gets close. • The application amount (total bid amount) for IPO application will remain locked until allotment is done. An investor cannot withdraw the money in locking period.
