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  • Brief About Asba - Inet

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    Ashish Singhal
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    SEBI introduced ASBA (Application Supported by Blocked Amount) as an alternative payment method for initial public offerings. Under ASBA, the application amount is blocked in the applicant's account and will only be debited if shares are allotted. For partial allotments, only the allotted amount is debited while the block is removed for the remaining amount. For non-allotments, the entire block is removed. Advantages for clients include no money leaving their account until allotment, earning interest, and no refund orders for non/partial allotments. Currently, ASBA is available at designated branches across 35 cities.

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    Brief About Asba - Inet

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    SEBI introduced ASBA (Application Supported by Blocked Amount) as an alternative payment method for initial public offerings. Under ASBA, the application amount is blocked in the applicant's account and will only be debited if shares are allotted. For partial allotments, only the allotted amount is debited while the block is removed for the remaining amount. For non-allotments, the entire block is removed. Advantages for clients include no money leaving their account until allotment, earning interest, and no refund orders for non/partial allotments. Currently, ASBA is available at designated branches across 35 cities.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views1 page

    Brief About Asba - Inet

    Uploaded by

    Ashish Singhal
    SEBI introduced ASBA (Application Supported by Blocked Amount) as an alternative payment method for initial public offerings. Under ASBA, the application amount is blocked in the applicant's account and will only be debited if shares are allotted. For partial allotments, only the allotted amount is debited while the block is removed for the remaining amount. For non-allotments, the entire block is removed. Advantages for clients include no money leaving their account until allotment, earning interest, and no refund orders for non/partial allotments. Currently, ASBA is available at designated branches across 35 cities.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    INDIAN OVERSEAS BANK

    MERCHANT BANKING DIVISION, CENTRAL OFFICE


    CHENNAI
    BRIEF ABOUT ASBA
    (APPLICATION SUPPORTED BY BLOCKED AMOUNT )
    ASBA introduced by SEBI as an alternative mode for payment for Initial
    Public Ofcer
    Under this process, the application amount will be bloced and will be
    debited to Applicant!s account only upon allotment
    In case of part allotment, part amount only will be debited and bloc
    for the balance amount will be removed"
    In case of non allotment, bloc for the entire amount will be removed"
    Advanta#es to $lient%
    &oney does not move out of his account till the allotment is made
    Earns interest in the account as money does not move out till
    allotment
    'o refund order is involved for non allotment or partial allotment, only
    blocin# is removed for the balance amount whereby there is no
    chance of loss of (efund Order"
    Easy to monitor for the client"
    Presently ))* branches from +, $ities have been desi#nated as -ASBA.
    branches"
    /" (amasubramonia Iyer
    Asst" 0eneral &ana#er"
    1)"12"+1))

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