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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 IPO Application definition

ASBA stands for "Application Supported by Blocked Amount". It is an IPO application process developed by SEBI that allows the application money to be blocked in the bank account for bidding in an IPO.

Investors cannot use the blocked amount but continue to receive interest on the blocked amount. Once the allocation status is determined and the blocked amount is withdrawn or released.

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The funds are withdrawn by the bank when IPO shares are allocated to the customer.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 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.


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 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

ASBA stands for 'Application Supported by Blocked Amount'. ASBA is an application mechanism which gives an authorization to Self Certified Syndicate Bank (SCSB) to block the application money in the bank account for subscribing to a public issue. If an investor is applying through ASBA, his/her application money got debited from the bank account after the basis of allotment is finalized and the application is selected for allotment or the issue is withdrawn/failed. It is mandatory for all public issues opening on or after January 01, 2016 to apply through ASBA only. The investor can download e-form from NSE website for any issue. Also they can download the form from BRLM's (Book running lead manager) website.

Benefits of ASBA

  1. There is no loss of interest as application money remains in the bank account
  2. The investor does not have to bother about refunds because only an amount proportionate to the securities allotted is taken from the bank account

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



18. Bablu Dad   I Like It. |Report Abuse|  Link|December 1, 2023 11:30:27 PMReply
17. Ddre   I Like It. |Report Abuse|  Link|November 29, 2023 6:43:53 PMReply
I applied to tata technology for 210000 thru asba but didn't get allocated even a single share. I thought the allotment is proportional to the sum budded yet not a single share, why?
16. Shalini   I Like It. |Report Abuse|  Link|September 8, 2023 11:16:39 PMReply
Is securities committed yo market makers is a part of 25% dilution to public offering or it is over and above 25%
15. Rakhidil Hoque   I Like It. |Report Abuse|  Link|August 14, 2023 5:50:15 PMReply
Can I apply IPO with Jio payment bank and Airtel payment bank
14. Tousif   I Like It. |Report Abuse|  Link|August 9, 2023 2:20:11 AMReply
Hi @Team Chittorgarh....
As 3rd party UPI applications in IPO are not vaild, then also why some brokers allows the application ? Is it their limitation of being not able to verify the demat & UPI bank a/c combination or intentionally they allow it ?
& as brokers allowing it, when I can see my applications rejected for this...Just receiving a non-allotment message or before the allotment date ?
14.1. Admin @   I Like It. |Report Abuse|  Link|August 9, 2023 9:06:45 AM
Please find the details here...
13. hitsur   I Like It. |Report Abuse|  Link|August 4, 2021 8:23:16 PMReply
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.
13.1. Team   I Like It. |Report Abuse|  Link|September 15, 2021 11:41:22 PM
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.
13.2. Rahul Rahul   I Like It. |Report Abuse|  Link|June 25, 2023 7:28:16 PM
EVEN Indus bank is not allowing registration os ASBA participant other than account holder saying pan mismatch with account holder.
12. Sailendra Kumar kochar   I Like It. |Report Abuse|  Link|August 8, 2022 2:50:59 PMReply
Can I apply rights issue with my new bank account which is not linked with dp account
11. Falak Tyagi   I Like It. |Report Abuse|  Link|March 6, 2022 7:11:59 AMReply
Dear Chittorgarh Team,
My de-mat & trading account is with seedha and they do not allow to apply for IPO after 05:00pm.
My bank a/c are with HDFC, IDFC & Ujjivan SFB. Do these bank allow to apply IPO after 05:00pm ?
If not then which bank can allow this ?
10. Falak Tyagi   I Like It. |Report Abuse|  Link|March 1, 2022 9:24:24 AMReply
Hi Chittorgarh Team,
I am working in a Bank, and bank doesn't permits employees to trade in stock market between 09:00am-06:00pm.
Can I apply for IPO during 06:00pm - 09:00am ?
Is there any way for me ?
10.1. Team   I Like It. |Report Abuse|  Link|March 3, 2022 7:16:30 PM
Yes, you can place order for IPO share at any time (24 Hrs) while the IPO is open.

But even though you submit IPO application at 2 AM in morning, it is send to the Exchange IPO Bidding Platform only by 10 AM in the morning.

Note that banks and brokers stop accepting order at around 2 to 3 PM on issue closing day.
9. Kaban   I Like It. |Report Abuse|  Link|January 14, 2022 12:59:20 AMReply
If I do two applications in an ipo, one for my huf demat and another for my wife's individual demat, from my wife's Axis Bank bank asba account, will both be considered as valid application? Somewhere I read that HUF application should be only from karta's account.
8. HSM   I Like It. |Report Abuse|  Link|November 20, 2021 6:44:24 PMReply
Karur Vysya Bank (KVB) also offer 3rd part application
7. Bharat vaishnavi   I Like It. |Report Abuse|  Link|November 4, 2021 3:06:14 PMReply
Kindly reply on my query.
Bank of Baroda.. Allowing third party ASBA IPO?
6. Dhanesh   I Like It. |Report Abuse|  Link|July 17, 2021 4:40:33 PMReply
Hello 👋
In union bank how many third party ipo applications can be applied for a company? Please share your inputs
6.1. Team   I Like It. |Report Abuse|  Link|September 15, 2021 11:47:59 PM
Dear Sir,

As per our understanding, Union Bank doesn't offer 3rd Party IPO application.
5. Aniruddha Shinde   I Like It. |Report Abuse|  Link|July 20, 2021 8:55:06 PMReply
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?
5.1. Team   I Like It. |Report Abuse|  Link|September 15, 2021 11:47:15 PM
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.
4. Mansi   I Like It. |Report Abuse|  Link|August 6, 2021 6:47:22 PMReply
Does HDFC BANK allows 3rd party IPO application
4.1. Team   I Like It. |Report Abuse|  Link|September 15, 2021 11:38:15 PM
No, HDFC and ICICI Bank do not offer 3rd Party IPO applications.
3. ANKUR   I Like It. |Report Abuse|  Link|August 6, 2021 11:17:39 PMReply
Is third party ipo application through SBI net banking and axis net banking applicable??
3.1. Team   I Like It. |Report Abuse|  Link|September 15, 2021 11:37:48 PM
Yes its very well applicable. This is the only way to apply online in Minor and HUF accounts.
2. Avinash   I Like It. |Report Abuse|  Link|August 10, 2021 5:33:04 PMReply
Can we apply IPO after 5 PM in first two days.
2.1. Team   I Like It. |Report Abuse|  Link|September 15, 2021 11:36:56 PM
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   I Like It. |Report Abuse|  Link|March 14, 2021 12:44:36 AMReply
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 (
Please clarify.
1.1. Team   I Like It. |Report Abuse|  Link|July 6, 2021 11:25:06 AM
No, ICICI Doesn't provide 3rd party IPO application. ICICI allows only one self IPO application.