Self Certified Syndicate Banks (SCSBs) accept retail individual investors bid for IPO Shares at Cut-Off price through internet banking or at certain designated branches.
Investor receives the acknowledgement from the bank along with the IPO Application Number.
Bank blocks the amount in investor's bank account for the IPO as applied and send the application information to the designated stock exchanges for that IPO. In case of insufficient amount in investor's bank account, the bank can reject the IPO application and do not sent the bidding to stock exchanges.
Bank keep the physical forms or electronic date (in case of online IPO Application) for specified period of time.
IPO Registrar receives the final bidding information from stock exchanges soon after issue get close. ASBA applications are processed along with the other IPO applications.
IPO Registrar validate the bids and rejects the application who doesn't match the application requirements.
Registrar complete the ‘Basis Of Allotment' and get it approved from stock exchanges.
Registrar sends request for money to SCSB's to transfer money to escrow public issue account.
Registrar receives the money and transfer the allocated shares to investors Demat Account.

Date Last Updated: 8/6/2008 8:47:49 PM

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User Comments

8. pankaj shah Feb 22, 2012 10:45:37 PM IST

Can I make IPO application of my family members through ASBA from my bank account ? They have demat account but not linked with my bank account.

7. Sandeep Feb 21, 2012 9:04:30 PM IST

Please give the link where i get the application forms for ASBA as soon as possible

Thaks

6. MBDESAI Sep 26, 2010 6:11:11 PM IST

Having a/c with SCSB whether an IPO ASBA APPLICATION can be made through nseindia.com ?
If yes what is the complte procedure of it?
Advise in the intrest of investor cmmunity as a whole.
Thanks
MBDesai

5. PAPINENI RATNAMMA Jul 27, 2010 10:13:09 PM IST

I want to apply on line thru IDBI PAISABUILDER.IN WHICH IS HAVING TIE UP WITH HDFC BANK INWHICH I AM HAVING SAVINGS BANK ACCOUNT. AND IAM HAVING INTERNET BANKIN ALSO. PLEASE LET ME KNOW HOW I CAN APPLY UNDER ASBA FOR IPOs THRU IDBI CAPITAL HAVING TIE UP WITH HDFC BANK.

YOURS FAITHFULLY

P RATNAMMA

4. VIJAY Nov 30, 2009 2:47:21 PM IST

What will be the role of sub-syndicate members in ASBA.

3. Harish Jul 30, 2009 11:21:49 AM IST

I have my SB account in HDFC bank with internet banking facility with me, and I want to submit the ASBA through internet. Please let me know the procedure in detail.

Thank a lot.

2. Kris Aug 06, 2008 8:36:35 PM IST

Dear Motabhai,
Please find the answer of your question below:

1. Bank who are 'Syndicate members' for specific IPO will accept physical forms as usual. This is an existing process.

2. Only SCSBs at specific branch or online can accept application with ASBA payment option chose. Investor should have account with the bank to avail this facility.

3. If SCSB is also 'the Syndicate member' for the specific IPO, they will accept the IPO forms with other payment options.

4. Syndicate members without ‘SCSB’ status can not accept IPO Application with ‘ASBA payment option.

Example:
A. Suppose you have an account with XYZ Bank, XYZ bank has SCSB status from SEBI and XYZ bank is not the syndicate member of ABC IPO.

In this case you can submit your IPO bid using ASBA method with XYZ bank but they will not accept your application form with other payment option i.e. cheque.

B. Now suppose XYZ1 Bank is the syndicate member for the ABC IPO but not having SCSB status, they will accept physical application form with cheque but you cannot use ASBA payment option.

Hope this will clarify your doubt. Feel free to reply back in case of further questions.

Kris

1. MOTABHAI Aug 06, 2008 2:13:44 PM IST

whether bank will receive the ipo application in physical form from its a/c holder only or from any individual who may not be interested in availing this amount block facility but may be interested in just depositing the form along with cheque as per general earlier procedure

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