ELIGIBILITY

● ASBA is available to Indian residents.
● The applicant needs a Demat account and the Permanent Account number (PAN)
● Individuals should have a banking account with an SCSB.
● Applicant should maintain sufficient balance in their account.

INFORMATION TO INVESTOR

FAQ’s for ASBA:-

1. What is “ASBA”? .
ASBA means “Application Supported by Blocked Amount”. ASBA is an application containing an authorization 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only if his/her application is selected for allotment after the basis of allotment is finalized, or the issue is withdrawn/failed.

2. Eligibility Criteria for ASBA
Here are some of the eligibility criteria for ASBA:
a. You are an Indian residential investor.
b. You should have a valid PAN number along with a Demat account and trading account.
c. You have to apply through the blocking of funds in the bank account with self-certified Syndicate Banks.
d. You should have adequate balance in your bank account.

3. How to apply for ASBA
a. Download the ASBA form from the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) website.
b. Fill in the required details and submit the form at the Self-certified Syndicate Banks.
c. Once you submit the application, the bank will bid the form on BSE /NSE platforms and block the stipulated bid amount in your bank account.
d. You can check the application status on both BSE and NSE website.
e. You can also apply through Broker using UPI ID in such case it is not required to fill and submit physical form.

4. What advantage an investor has in applying through ASBA?
Applying through ASBA facility has the following advantages: (i) The investor continues to earn interest on the application money as the same remains in the bank account. (ii) The investor does not have to bother about refunds, as in ASBA only that much money to the extent required for allotment of securities, is taken from the bank account only when his application is selected for allotment after the basis of allotment is finalized.

5. Is it mandatory to apply through ASBA only?
It is mandatory for all public issues opening on or after January 01, 2016

6. Where should I submit my Application Supported by Blocked Amount (ASBA)?
Investor may submit application form to his trading member or to a SCSB.List of Self Certified Syndicate Banks (SCSBs) and their designed branches i.e. branches where ASBA application form can be submitted, is available on the websites NSE (URL:http://www.nseindia.com/content/ipo/scsb_list.zip) and on the website of SEBI (www.sebi.gov.in). The list of SCSB would also be given in the ASBA application form.

7. What is Self certified Syndicate Bank (SCSB)?
SCSB is a bank which is recognized as a bank capable of providing ASBA services to its customers. Names of such banks would appear in the list available on the website of SEBI and the same is also available on NSE website.

8. Can I submit ASBA in any of the banks specified in the list of SCSBs?
No, ASBA can be submitted to the SCSB with which the investor is holding the bank account.

9. Whether my bank account will be blocked or only the amount to the extent of application money is blocked?
No. the entire bank account will not be blocked. Only the amount to the extent of application money authorized in the ASBA will be blocked in the bank account. The balance money, if any, in the account can still be used for other purposes.

10. If I withdraw my bid made through ASBA, will the bank account be unblocked immediately?
If the withdrawal is made during the bidding period, the SCSB cancel the bid and unblocks the application money in the bank account. If the withdrawal is made after the bid closure date, the SCSB will unblock the application money only after getting appropriate instruction from the Registrar, which is after the finalization of basis of allotment in the issue.

11. Do I necessarily need to have a DP account with the SCSB where I intend to submit the ASBA application?
No. Investors need not necessarily have their DP account with the SCSB, where they are submitting the form.

12. Can I submit my ASBA application to a broker?
We believe in harnessing the true spirit of teamwork in everything we do. By readily sharing experience, resources and opportunities, we ensure that all our offerings come with a higher degree of accountability.

13. Will I get the acknowledgement of receipt for applications submitted through ASBA?
Yes. The SCSB/Trading member shall give a counterfoil as an acknowledgement at the time of submission of ASBA application.

14. What happens when the issue fails/is withdrawn?
In case the issue fails/withdrawn the SCSB shall unblock the application money from the bank accounts upon receiving instructions from the Registrar.

15. How do I know that the allotment has been done for IPO
You will receive a message once the shares are credited in your demat account from RTA/Stock Exchange.

16. Can I apply more than one application in my name from different savings bank accounts in the same bank or different banks?
No. If you do, then all your applications will be rejected. IPO applications are linked with PAN and thus, not more than one application per PAN is permitted.

17. In case of a joint DP account, who will be considered primary applicant?
The IPO application will be considered as submitted under the first name in the joint account with his/her corresponding details like PAN, DP account etc.

18. Can I apply in the name of Minor or HUF?
Yes, IPO applications can also be made from the demat account of a minor provided that the account is operated by the minor’s guardians. HUF can also apply for IPO through ASBA

CONTACT

GP Parsik Bank being a ASBA enabled SCSB (Self Certified Syndicate Banker) is authorised to receive IPO applications for our Bank’s customers at a following designated 13 branches: