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ASBA payment mode is the facility introduced by SEBI that allows banks to block the amount for IPO applications upon receipt of an ASBA application from investors.
The amount will be debited from the bank account only when investors receive the allotment. The blocked amount will continue to earn interest (if held in an interest-bearing bank account) during the application processing period.
If the bid is accepted, the bank will debit the account and the allotted shares will get to the applicant's demat account. If no allotment is made, the amount will be unblocked from the account.
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Topic: ASBA IPO Feedback
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