How do I opt for ASBA to apply any IPO?

How do i opt for ASBA to apply any IPO?

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ASBA (Application Supported by Blocked Amount): When an investor applies for an IPO through ASBA, the funds shall be debited from the bank account only in case his application is selected for allotment.

SEBI has made it mandatory for all non retail clients to apply for IPO's through ASBA and is in the process of making it compulsary for retail clients too.

An investor can apply for any public/rights issues using his bank account, he's to submit the ASBA form (available at the Syndicate Bank) after filling the necessary details like his name, PAN number, Demat account number, bid quantity, bid price to his bank giving instructions to block the amount in his account. In turn the bank will upload the details of this application on the bidding platform. However the Investor shall ensure that the details are filled accurately in the ASBA form else failing which the form is liable to get rejected.

More on ASBA from NSE here.

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By Syndicate Banks I meant to say that there are only certain Banks [SCSB - Self Certified Syndicate Banks] which can accept ASBA forms. Here’s the list: http://nseindia.com/content/ipo/scsb_list.pdf

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