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How ASBA is Benefitting Retail Traders while Applying for IPO?

SEBI has revolutionsied the way retail traders can invest in an IPO and one such way is the ASBA (application supported by blocked amount) facility. The benefit of this facility is that amount is only blocked in account like a lien and is physically transferred to issuer once it is confirmed that individual has been allotted the shares.

ASBA is an application for subscription to an issue containing an authorization to the investors’ bank to block the application money in the bank account and release funds only on allotment.

Check further benefits of ASBA here in below screenshot which is given by South Indian bank.

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