how can someone can apply through ASBA ( Application Supported by Blocked Amount ) route? icicidirect and Indiabulls customer ..any clue?

Alchem! do you have any clue about it? Money is not blocked while applying the IPO but here it is paid fully and deduct the amount from the ledger book if we apply through online broker's website.

I don't have the link of SEBI stating that Amount will be blocked while applying IPO. But here, that is not the case if we apply through online port?

It seems me the same as we have older procedure!!

no idea.

ICICIDirect's FAQ says this:

http://content.icicidirect.com/index...direct.com#a32

but I can't find any such box to check or uncheck....

I will write to ICICIDirect.com and let you know.

only certain banks can block the amount under ASBA.

if your money is with a broker, he will have to make the payment while applying for the IPO.

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I have not applied on any ipo for last few years but planning to start again with Adani. I have couple of questions if someone can plz clarify.
1. I read some where that now when u apply for IPO, money is just blocked in ur account and required amount (according to the allotted number of shares) is taken at the time of allotment. Is it how its working with icicidirect now?

2. If the issue is over subscribed but in retail category its under subscribed then will retail investor will get full allotment (i.e. if i applied for 975 shares, will get 975)?

Thanks in advance

1. Please see here. Alchemist has mentioned that the ASBA facility is not yet properly implemented.

2. Yes, if the retail segment is not fully subscribed, you will get full allotment .

I discussed with icicidirect people on call center.
They told that ASBA is not yet activated for online application and advised to contact local ICICI bank branch for further co-ordination.
But here in Indore branch no body know about it!

GOOD NEWS.
ASBA now available for online application on icicidirect.com

yes, it is.

I may try out ASBA for NHPC IPO....even though I expect close to 100% allotment.....

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http://e-investing.in/showthread.php...highlight=ASBA

To apply with ASBA option you need to contact the bank in which you have account with, and not the depository participant (i.e. Indiabulls in your case).
First you have to check whether your bank is amongst Self Certified Syndicate Banks (SCSBs) approved for ASBA process or not.
At following link you can have List of SCSBs approved for ASBA process
http://nseindia.com/content/ipo/scsb_list.pdf

Banks don't charge any thing for this service.
You may apply of minimum 1 lot for ASBA.
Basic condition is you have to apply at cut-off price and you can't bid while applying with ASBA option.

I have a kotak securities trading account. i found out from internet that ICICI, HDFC , SBI , HSBC support ASBA.

I have bank account with all of these banks. Can I apply for ASBA online? I would prefer through SBI if possible.

Does ICICI support this in case someone have bank account with them but demat account with different DP?

even kotak bank supports ASBA.

you have to activate it.

banks support ASBA even if you don't have a demat account with them.

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I know that Kotak supports ASBA. But for that you need to use Kotak bank account. I also know that if I have bank account with Kotak and Demat account with someone else, I can use ASBA.

But I want to use SBI/ICICI Bank account and Kotak securites demat account. On ICICI bank site, I could not find option for ASBA. So it seems that you can use ASBA only if you have ICICIdirect account. Offline ASBA order may be possible. But I am not sure if any of these banks(SBI, ICICI, HDFC, HSBC) allows ASBA online if I dont have demat account with them.

some banks do allow online ASBA even if you don't have a demat account with them.

some banks don't.

I don't think ICICI Bank provides ASBA to non-ICICIDirect users.

Union Bank of India does.

http://www.unionbankofindia.co.in/asba.aspx

Axis Bank does:

http://www.axisbank.com/personal/oth...t/IPOSMart.asp

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The Best thing about ASBA is you can withdraw your application before the closure of the Issue, with just one click of your mouse, I remember the sleepless night I spent when I put in an application online of Cairn India IPO on the first day via ICiCI direct

Do all of you who are using ASBA have ICICI direct (or 3 in 1) accounts? Or is only a ICICI Bank A/c and another Broker's DP account sufficient?

I have been applying thru Offline Cheque route and am still to receive the NHPC refund so ASBA seems awesome.

even those who didn't apply using ASBA have got refunds.

others should get in day or two.

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Alchemist I did get the refund yesterday.

Do you mean ICICI Bank will not provide ASBA to non-ICICIDirect users via physical form or you mean only online ?

I meant online.

I have no idea about the offline procedure.

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I had email exchange with ICICI Bank's Nodal Officer(ASBA incharge manager) & he confirmed that we can use physical ASBA form.

------------------------------------
You can deposit Physical ASBA form at any designated ASBA Branches.

Regards,
Sidhartha Sankar Routray
ICICI Bank Limited
----- Original Message -----
From: Naresh Mehta
To: sidhartha.routray@icicibank.com
Sent: Friday, September 11, 2009 4:46 PM
Subject: Query regarding ASBA


Hi Sidhartha,
I am having my salary a/c with ICICI Nungambakkam branch which is also the designated branch for ASBA (Applications Supported by Blocked Amount). I am having my DP a/c with India Infoline & wondering whether I can apply for IPO using ASBA facility where allotted shares will get deposited into my India Infoline depository a/c? Also want to know whether I can use my internet banking a/c to apply online or I need to use physical form.

Thanks,
Naresh

This is very useful info. Thanks.

I applied for Cox & Kings' IPO using Physical ASBA for 300 shares & today money got deducted from ICICI a/c. Though there were few hick-ups(physical forms were not available till last day 12 p.m. etc...), at last I was able to apply successfully.

can we use a different demat a/c for applying IPO using ASBA with a different saving a/c name? or need the same person's demat a/c while applying IPO?

The name of person on both demat and bank account should be same.

I don't think so. Name of person can be different. Even I used to pay for my wife's Demat a/c. This holds true with ASBA as well as paying by check.

In kotak, I saw following condition

I am not sure if this is general rule, or rule particular to kotak

How about in Axis bank?

Can we apply for IPO with ASBA if demat and saving a/c are under different person's name?

According to Axis Bank, if you have registered for their internet banking, everything can be done online. I may give it a try with a token application for Godrej Property.

Ok ! Good luck!

but the price band is too high! Let us know if it is successful

I didn't go for Godrej Property but tried for DB Corp instead. And, yes, everything was done online without visiting / phoning the bank.

Has anyone here who applied via ASBA checked their allotment status online @ Karvy (assuming Karvy is the registrar)?

What is the Application number to be entered?

I applied online through Axis Bank and the immediate confirmation indicated an application number "0000010791".

Later on, I checked the Axis Bank site for status and it showed an application number "211I0010791". So there's an alphabet as well as numbers now!

I wonder whether this application number is internal to Axis Bank and has nothing to do with the application numbers on physical forms?

Anyway, the amount is still shown as blocked in my account, so I'll have to wait a couple of days more for any progress.

Got an SMS from Axis Bank confirming deduction of Rs. 6,300 from my account. That means I got 30 shares in the DB Corp IPO. I had applied for 60.

So the online ASBA procedure worked just fine for me.

Adani Enterprises has announced a rights issue with 25th March as the record date.

I got the impression that there was a claim that ASBA can be used for rights issues as well. Is this true? How can it work? Will it depend on getting any written communication (paper form) from the issuing company? Anyone have first-hand information on this?

Edit: Just to clarify, I wanted to know re. electronic ASBA and not paper-based.

The ratio is 1 for every 16 held and the price is Rs. 475 !!!

According to Axis Bank website it's not possible to apply for 'Rights Issues' online...one has to go to the designated branches.

http://www.axisbank.com/personal/oth...ab=1&tottab=22

Thanks a lot, Nimo!!!!

The link you provided answers my question perfectly. It also has good general information.

hello all,

has anybody applied for an IPO using ASBA from HDFC Bank. I want to try this for first time but couldn't get info more info from HDFC customer service as usual.

Check the HDFC ASBA application process. It says, you have to go to the listed branch to apply for ASBA. There is just one branch even in major cities. They might as well not accept ASBA.

There are many posts mentioning issues with ASBA.

Here is my take - for whatever reason one hates icicidirect - ASBA through it is straightforward. Its available for all ipo's.

Came across this post. It gives a different impression.

Of course, this may apply only to HDFC Sec account holders...

Why does HDFC have only one branch for ASBA?

I checked with my branch & they say i would have to go to the branch & apply from there. I think on purpose HDFC believes in making ASBA toughest to apply for.

Any thoughts? I have accounts only in HDFC.

On a different note better to have accounts in at least 2 banks one private one public.

If there is some glitch with hdfc, you will have options to save your day.