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ASBA IPO Application

IPO Application Supported by Blocked Amount (ASBA) facility allows investors to apply in an IPO through the net-banking facility offered by the bank.

ASBA is a method to block the funds for IPO applications. It permits the bank to block the funds in the customer's bank account until the allotment process is complete.

The funds are withdrawn by the bank when IPO shares are allocated to the customer. The funds are released or unblocked when IPO shares are not allotted or partially allotted to the customers.

The process of blocking the fund is called lien marking in banking terms.

The ASBA route of applying or bidding for the IPO is the simplest, fastest and most convenient way to apply in an IPO.

Banks like SBI, ICICI, HDFC, Kotak, Axis Bank etc. offer ASBA IPO facility.


ASBA IPO Form

ASBA IPO application can be applied in two ways:

  1. Online using net-banking website or mobile app
  2. By visiting the bank branch

The online ASBA IPO application is the most convenient way to apply for an IPO. You have to login to the net banking website or mobile app, fill the bidding details on the ASBA IPO Form, validate it and submit the IPO application.

You could also visit your bank's branch to apply in an IPO. While the process remaining the same, you get additional assistance from the branch staff when applying through the branch.


ASBA IPO Timing

Banks allow ASBA IPO application while the IPO is open for subscription. The online IPO applications are available starting at 10 AM on the issue open date till 5 PM on the issue closing date.

But most banks only provide this facility till 2 PM or 3 PM on the last date. Check Bank wise IPO application cut-off time for more detail.


ASBA IPO Status

ASBA IPO status is to check the allotment status of IPO application applied using the ASBA facility. The registrar of the IPO is responsible for allocating the shares.

Steps to check ASBA IPO Status

  1. Visit the IPO Allotment Status page of our website.
  2. Click on the IPO you would like to check the status for.
  3. Click on the green IPO Allotment Status button.
  4. Choose the company name and enter the PAN Number.
  5. Submit the request.

The allocated shares in an IPO are credited to the customer's demat account one day before the listing at stock exchange. Customer can sell these shares on the day of listing by around 10 AM.


ASBA IPO Process

IPO Application through the ASBA route offers a convenient way to apply, modify or cancel IPO application. Following is the ASBA IPO Process:

  1. Customer logins to the net-banking website or mobile app.
  2. Go to the Online IPO section.
  3. Choose the IPO to apply in.
  4. Fill bidding details like category, quantity and amount.
  5. Allocate the funds.
  6. Submit the IPO application.
  7. The bank blocks the funds (mark the lien).
  8. Bank sends the application to the stock exchange.
  9. The exchange accepts the bid and sends the application number to the bank.
  10. Bank informs the customer about the successful bid.
  11. After the closing day, the exchange shares bidder details with the registrar.
  12. Registrar completes the IPO allotment process.
  13. Registrar transfer the shares in demat account.
  14. Customer can sell these shares on listing day.

Banks offering ASBA IPO

Almost all national level banks offer ASBA IPO applications. This includes popular banks like ICICI Bank, SBI, Kotak Bank, HDFC Bank, Axis Bank ect.

Some banks like SBI and Axis Bank offer 3rd Party IPO Applications. These banks permit up to 5 IPO applications on different names using one bank account.

Note that only 1 IPO application is permitted in an IPO for one person (unique PAN Number).


3rd Party IPO Application

There are types of banks for applying in IPO using ASBA.

  1. Banks offering 3rd Party IPO Application

    Banks like SBI, Axis, BoB, and RBL offer the 3rd Party IPO application. You can apply in up to 5 IPO applications using one bank account with these banks.

    If you have a bank account in any of these banks, yes, you could apply in an IPO in the name of a family member or friend's name as long as they have their demat account and PAN number.

    It is the only way to apply in an IPO online in the name of Minor and HUF.

  2. Banks offering Self IPO Applications Only

    Other banks like ICICI Bank, HDFC Bank, etc. offer only one IPO application per bank account. In this case, the bank account, demat, and PAN number should belong to the same person.

Note: As per regulation;

  • The allotment is done based on a unique PAN Number. Only one IPO application is eligible per PAN number.
  • It does not matter which bank account you use when applying in an IPO through ASBA as a payment method.
  • In the case of UPI as a payment method, the bank account should be on the applicant's name.

ASBA IPO Application Demo

Following are the steps to apply in an IPO using ICICI Bank ASBA IPO Application.

  1. Choose IPO and click on 'Go' link
  2. Enter quantity and choose price
  3. Accept terms & conditions
  4. Allocate funds for IPO application
  5. Check Orderbook for application number and status
Answered on

Frequently Asked Questions

  1. 1. Which banks in India provide 3rd party IPO application (ASBA) facilities?

    3rd Party IPO Application facility allows customers to make up to five IPO applications using one bank account.

    Banks offering 3rd party IPO application

    • State Bank of India (SBI)
    • Axis Bank
    • Bank of Baroda
    • RBL Bank
    • IndusInd Bank

     


9 Comments

9. HSM  Nov 20, 2021 6:44:24 PM I Like It. | Report Abuse Reply
Karur Vysya Bank (KVB) also offer 3rd part application
8. Bharat vaishnavi  Nov 4, 2021 3:06:14 PM I Like It. | Report Abuse Reply
@CHITTORGARH TEAM,
Kindly reply on my query.
Bank of Baroda.. Allowing third party ASBA IPO?
7. Dhanesh  Jul 17, 2021 4:40:33 PM I Like It. | Report Abuse Reply
Hello 👋
In union bank how many third party ipo applications can be applied for a company? Please share your inputs
7.1. Team Chittorgarh.com  Sep 15, 2021 11:47:59 PM I Like It. | Report Abuse
Dear Sir,

As per our understanding, Union Bank doesn't offer 3rd Party IPO application.
6. Aniruddha Shinde  Jul 20, 2021 8:55:06 PM I Like It. | Report Abuse Reply
I have applied for Zomato IPO on 16th of July via ASBA facility using SBI Net banking. I did not receive any email from the exchange regarding bid details confirmation for the same.

I have saved the IPO application acknowledgement receipt from SBI and also the bid amount has been blocked in my SBI account. Is it that SBI did not upload IPO bid details on the bidding system of exchanges?
6.1. Team Chittorgarh.com  Sep 15, 2021 11:47:15 PM I Like It. | Report Abuse
1. Emails don't always come from the exchange. It's not reliable.

2. Once you submit the IPO application in SBI net banking, you get an application number from the exchange (between 10 AM to 5 PM only). This application number is confirmation of your application being accepted.

3. You could always visit BSE or NSE website to reconfirm your IPO application bid.

4. If your application is visible on the allotment page of the registrar, it means it was submitted to the exchange.

Note: As per a leading register, sometimes it happens that banks fail to upload the bid or fail to block the requested funds. This results in to application cancellation.
5. hitsur  Aug 4, 2021 8:23:16 PM I Like It. | Report Abuse Reply
@CHITTORGARH TEAM,
Kindly reply on my query.

This is with regards to minor demate account.
I am having a Minor Demate (my son) in Kotak securities and Bank account with Kotak Bank in the Name of my son.
I am applying almost all the IPO in my Minor son name from his own Kotak bank account (Net Banking) through ASBA.
But, in ASBA the PAN detail was entered by Kotak Bank is of Guardian Pan detail (Means Father PAN Detail is entered and not Minor PAN DETAIL)
In the recent IPO "ZOMATO" i have asked the query to the registrar for not allotment.
Below is the reply i have received.

Please be informed that there was a mismatch between PAN number captured as per bid file AXxxxx907F and that registered in your DP (Demat Account) CHxxxxx38P and hence your application was rejected under technical reason " PAN/ GIR Mismatch". Your entire application money stands unblocked in your account.

Kindly guide me, what s the best way i can apply without rejection of IPO.

Is it 3rd Party application accepted.
5.1. Team Chittorgarh.com  Sep 15, 2021 11:41:22 PM I Like It. | Report Abuse
Dear Sir,

This is correct as Kotak Bank doesn't offer 3rd Party IPO applications.

Banks like following offers 3rd Party IPO application:

State Bank of India (SBI)
Axis Bank
Bank of Baroda
RBL Bank
IndusInd Bank

You can use any of these above banks to apply in IPOs in different demat accounts using the same bank account.
4. Mansi  Aug 6, 2021 6:47:22 PM I Like It. | Report Abuse Reply
Does HDFC BANK allows 3rd party IPO application
4.1. Team Chittorgarh.com  Sep 15, 2021 11:38:15 PM I Like It. | Report Abuse
No, HDFC and ICICI Bank do not offer 3rd Party IPO applications.
3. ANKUR  Aug 6, 2021 11:17:39 PM I Like It. | Report Abuse Reply
Is third party ipo application through SBI net banking and axis net banking applicable??
3.1. Team Chittorgarh.com  Sep 15, 2021 11:37:48 PM I Like It. | Report Abuse
Yes its very well applicable. This is the only way to apply online in Minor and HUF accounts.
2. Avinash  Aug 10, 2021 5:33:04 PM I Like It. | Report Abuse Reply
Can we apply IPO after 5 PM in first two days.
2.1. Team Chittorgarh.com  Sep 15, 2021 11:36:56 PM I Like It. | Report Abuse
NSE and BSE IPO application software accept bids from 10 AM to 5 PM on working days when IPO is open.

But most banks and brokers allow you 24 hours to apply in open IPOs. The only point to note is, your application is submitted to the exchange the next day at 10 AM. This is when you will get your UPI payment notification if you applied using UPI as a payment option.
1. Sajal Singhal  Mar 14, 2021 12:44:36 AM I Like It. | Report Abuse Reply
Is ICICI bank also allowing 5 ASBA applications per account? I am seeing 5 ASBA applications mentioned on ICICI bank IPO FAQS page.
Link for its page is (https://www.icicibank.com/Personal-Banking/faq/investment/asba-faq.page).
Please clarify.
1.1. Team Chittorgarh.com  Jul 6, 2021 11:25:06 AM I Like It. | Report Abuse
No, ICICI Doesn't provide 3rd party IPO application. ICICI allows only one self IPO application.