How ASBA is used for IPO?

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ASBA is the facility used to block the amount from the investor's bank account by SCSBs to apply for an IPO.

All investors need is a bank account with one of the SCSBs that offer the ASBA facility. The ASBA application authorizes the SCSB to block the amount of the IPO application from the investor's bank account. The amount will only be debited if investors receive an allotment in an IPO. The amount of the debit also depends on the amount of the allotment in an IPO.

Investors can apply online or offline through ASBA.

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