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ASBA Online Facility for Investing in IPO
Application Supported by Blocked Amount (ASBA)
At ICICI Bank, we are committed to offer our customers the best of services. We are glad to offer you a simple and convenient facility of investing in IPOs through ASBA facility.
What is ASBA?
ASBA means “Application Supported by Blocked Amount”. ASBA is an application containing an authorisation to block the application money in the bank account, for subscribing to an issue. If an investor is applying through ASBA, his application money shall be debited from the bank account only if his/her application is selected for allotment after the basis of allotment is finalized, or the issue is withdrawn / failed.
It is a supplementary process of applying in Initial Public Offers (IPO), right issues and Follow on public offers (FPO) made through book building route and co-exists with the current process of using cheque as a mode of payment and submitting applications.
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