What is the ASBA IPO Payment Option?
Application Supported by Blocked Amount, in short, ASBA is an option that authorizes the blocking of application money. It is beneficial for the IPO Stock Market. An investor should subscribe first to raise an issue for blocking the money in the bank account.
If an investor uses ASBA, they will be charged a fee only when the application gets selected prior.
Does ICICI Bank Provide an ASBA IPO?
Yes, ICICI Bank has its website called “ICICIDirect.com”. It helps investors to get different IPO offerings.
Steps to Apply for IPO with ICICI Bank’s ASBA
Follow the mentioned steps to apply for IPO through the ASBA of ICICI Bank:
- Visit ICICIDirect.com.
- Find the column ‘Trading’.
- Select the ‘IPO’ option
- Click on the ‘Go’ button (it will be in the “20 MICRONS LIMITED” IPO line).
- Re-verify to check the ASBA check box (it should be checked).
- Submit the bid.
That’s it! You have successfully applied for the IPO using ICICIDirect.com.
Can I Buy an IPO through ICICI Direct?
Yes, an investor can buy the IPO using ICICIDirect.com. Users of ICICI Direct can easily buy, sell, or place orders for their shares, invest in mutual funds, apply for an IPO, and trade equity.
How to Invest in ASBA IPO?
Investment in ASBA is easier with ICICI Bank.
When you apply for the IPO, the following processes will be useful:
- Visit the net banking website of ICICI Bank.
- Select the column ‘insurance and investment’.
- Pick the option ‘investment online’.
- Select your account number.
- Verify different personal details.
- Authorize them (as asked on the option).
- Click on IPO and select Go.
- Enter different details like Name, Pan Card, DP ID, BID, etc.
- Verify every entered data thoroughly.
- Confirm your order.
It’s done! You have successfully applied for the ASBA investment using ICICI bank.
Can an Investor Apply for IPO without ASBA?
No, direct access to an IPO is not possible through the bank or broker. It requires ASBA to complete the order through your bank.
An investor should follow the above-mentioned steps to succeed in the ASBA IPO payment option:
Main Features of the ASBA Process
The ASBA process is a great choice for investors when it comes to bidding through multiple options.
Here is the list explaining every vital feature of the ASBA process:
- Requires Self Certified Syndicate Banks (SCSBs).
- Satisfies conditions as per the SEBI.
- Verification and blockage of funds are possible.
- Availability of web-based bidding systems.
- Block and unblock the system as per the allotment (once).
- Transferring an amount to the issuer (straight to its allotted shares).
ICICI Bank offers great opportunities for investors to invest in the IPO using its ICICIDirect.com or internet banking. In addition, it offers a safe and secure Online Trading Website for all. However, if you are looking for a zero-brokerage trading platform, try Shoonya. We promise lifetime zero brokerage services. Check our website to know more!