What is third party ASBA?

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The third party ASBA was a facility that allowed individuals to submit multiple IPO applications from one bank account.

The investor could submit up to 5 applications from one bank account. This facility was used to apply for an IPO for minors. However, effective May 1, 2022, all banks no longer offer the option of applying through a 3rd party ASBA IPO. As per the new rules the PAN number of the primary account holder in the bank account and demat account should be the same for valid IPO applications.

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