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ASBA (Applications Supported by Blocked Amounts)
Apply for IPOs / Bonds through a seamless and hassle-free process
Key Features
Simple, safe and smart way to participate in Primary Market
ASBA is an application containing an authorization to block money in a Bank account, for subscribing to an IPO issue.
No Cheque or DD required for application money
The account continues to earn interest on the funds blocked
No requirement to wait for refund cheques / ECS credits
UPI ASBA option is available for quicker access
Other Benefits
Eligibility
- Applicant must be a resident retail individual investor having a Demat Account with Depository participants like NSDL – CDSL, along with a valid Permanent Account Number (PAN)
- Applicant must have a sufficiently clear credit balance (no overdraft) in his / her Account
- Applicant is bidding at cut-off, with the single option as to the number of shares bid for
- Applicant is applying through blocking of funds in an Account with SVC Bank
- Applicant has agreed not to revise his / her bid
- Applicant is not bidding under any of the reserved categories
