How do I choose ASBA payment option while applying for an IPO Stocks through ICICIDirect or other online trading portals?

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Investors using ICICIDirect.com to invest in IPO's now have ASBA 'Applications Supported by Blocked Accounts' payment option available online.

20 Microns Limited is the first IPO offering by ICICI Direct with ASBA payment option. Issue is currently open and subscribed 0.21 times (0.1133 in Retail) on its 1st day.

To choose ASBA payment option in ICICIDirect.com, please follow below steps:

1. Logon to ICICIDirect.com.
2. Under ‘Trading' go to ‘IPO'.
3. In ‘20 MICRONS LIMITED' IPO row, click on action ‘Go' button.
4. Make sure that ASBA check box is checked.
5. Submit the bid.

That's it. It's so easy and no need to worry about refunds cheques or direct deposits.

Note: ICICIDirect customers do not need additional documents to use ASBA payment option.

Updated on: Monday 08 September, 2008

answered


2 Comments

Vishrut
2. Vishrut  Aug 15, 2009 10:57 I Like It. | Report Abuse Reply 0
Question:
Under the ASBA scheme, what if I have taken money from my FD/OD account ?
Will I be charged INTEREST ? (Just because funds have been fetched, in this case, from FD/OD account?)
I have account with IDBI bank.
Mukesh
1. Mukesh  Aug 11, 2009 18:25 I Like It. | Report Abuse Reply 0
How does it work when you are paying amount tru OD /LAS account, and what is the option to select ASBA application in the case of HDFC bank.

If someone have D/P with india infoline and wants to make one line payment tru his HDFC bank (OD ) account, than what will happen.








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