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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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Continue earning interest on the balance held in your account
Seamlessly apply into an IPO through your Account with IDFC FIRST Bank
Continue earning interest on the balance held in your account
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Invest into IPO
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Apply through the IDFC FIRST Bank App and net banking
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Pre-filled application form with minimum quantity and cut-off price
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Securities delivered in your demat account on successful allotment
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Invest into IPO
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Apply through the IDFC FIRST Bank App and net banking
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Pre-filled application form with minimum quantity and cut-off price
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Securities delivered in your demat account on successful allotment
Invest in IPO (ASBA- Application supported by Blocked Amount)
Application supported by Blocked Amount (ASBA) enables investors to apply for primary market issues like initial public offering (IPO) without making immediate payment. The application amount is “Blocked” in the investor’s bank account and is released in a proportionate amount on allotment of shares.Read More
With this facility, investors can immediately carry out new IPO application without worrying about payment. The amount it debited only if shares of the latest IPO are allotted. What’s more? Application for ASBA IPO has zero charges. On top of that, the blocked amount also earns interest when it is not used to invest in IPO. All in all, it is win-win for investors!Read Less
Enjoy the benefits of ASBA facility through your IDFC FIRST Bank account.
Earn interest on blocked amount
Instant unblocking of funds post allotment process is completed
Debit of amount only if shares are allotted
Zero charges on ASBA application
Initial Public Offering (IPO)
What do you need to apply in Initial Public Offering (IPO) application through ASBA?
· An account with IDFC FIRST Bank
· Demat account with depository participant of CDSL or NSDL
· Updated PAN details
Sufficient funds in your bank account
Details you will need to check before and after applying for Public Issue:
· Upcoming IPO/public issue and physical application form: NSE BSE
· Allotment status: Refer RTA website for allotment
· Link Intime India Private Limited
· Kfin Technologies Private Limited
You can also apply offline by visiting any of the IDFC FIRST Bank ASBA branches. Offline ASBA applications at the branch will be accepted only before 1:00 PM on last day of public issue.
What Our Experts Suggest
FREQUENTLY ASKED QUESTIONS
What is “ASBA”?
ASBA means “Application Supported by Blocked Amount”. ASBA is an application by an investor containing an authorization to Self Certified Syndicate Bank (SCSB) 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.
Who can apply through ASBA facility?
SEBI has been specifying the investors who can apply through ASBA. In public issues w.e.f. May 1, 2010 all the investors can apply through ASBA.
What is the advantage to an investor through ASBA?
Applying through ASBA facility has the following advantages:
(i) The investor need not pay the application money by cheque rather the investor submits ASBA which accompanies an authorization to block the bank account to the extent of the application money.
(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 deducted from the bank account only when his application is selected for allotment after the basis of allotment is finalized.
(iii) The investor continues to earn interest on the application money as the same remains in the bank account, which is not the case in other modes of payment.
(iv) The investor deals with the known intermediary i.e. its own bank.
Is it mandatory for retail investors to apply through ASBA only?
Yes, it is mandatory. A retail investor making application through ASBA
Where should I submit my Application Supported by Blocked Amount (ASBA)? How shall I know which bank and which branch of that bank is the designated branch for accepting ASBA applications?
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 of BSE (www.bseindia.com) and NSE (www.nseindia.com) and on the website of SEBI (www.sebi.gov.in). The list of SCSB would also be given in the ASBA application form.
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.
Am I required to submit ASBA only physically?
No, you can either fill up the physical ASBA form available with SCSB and submit the same to the SCSB or apply electronically/online through the internet banking facility for IPO.
Can I withdraw my ASBA bids? If yes, how?
Retail individual investors can withdraw ASBA bids. During the bidding period you can approach the same bank to which you had submitted the ASBA and request for withdrawal through a duly signed letter citing your application number, Application number, if any.
After the bid closure period, you may send withdrawal request to the Registrar to the issue before the finalization of basis of allotment, who will cancel the bid and instruct SCSB to unblock the application money in the bank account after the finalization of basis of allotment.
However, Non-retail investors i.e. Qualified Institutional Buyers and Non Institutional Investors are not eligible to withdraw their bids at any time.
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.
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 deletes 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.
Do I necessarily need to have a DP account with the SCSB where I intend to submit the ASBA application?
No. It is not necessary to have a DP account with the SCSB, where you are submitting the ASBA.
Can I submit my ASBA to a broker as is being done in the present issue ?
Yes, you can submit ASBA with a registered broker of the stock exchange where the securities are proposed to be listed. However, the brokers would only upload the bid and other relevant details of such ASBA forms in the bidding platform provided by the stock exchanges and forward the ASBA forms to the respective SCSBs for blocking the funds for amount above 2L. Amount below 2L will be done through UPI 2.0 process.
Will I get the acknowledgement of receipt for applications submitted through ASBA from the SCSB?
Yes. The SCSB shall give a counterfoil as an acknowledgement at the time of submission of ASBA and also the order number, generated at the time of uploading the application details, if sought by the investors in case of need.
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.
In case a person is having bank account with a branch, for example, at Kolkata can he submit IPO application through ASBA at a branch of the bank in Guwahati?
Yes, this can be done provided that your bank has core banking facility and the ASBA form is submitted at a branch which is identified as designated branch by the bank.
Is there a better chance of allotment if one applies in IPO through ASBA?
The chance of getting allotment is same for all the applicants whether application is made through ASBA or non‐ASBA. ASBA is a simple, easy and smart way of applying in public issues. There are many advantages of applying through ASBA like money does not go out of investors’ account, no hassle of refund, investor keep earning interest on the blocked amount as banks have started paying interest on daily basis w.e.f. April 1, 2010 and it gives better opportunity for utilization of money
What if the SCSB is not the applicant’s banker?
In case investor does not have an account with any of the SCSBs, then he cannot make use of the ASBA facility.
How many applications can be made from a bank account?
One applications can be made from a bank account per PAN.
Where can I get more detail on the ASBA application through UPI?
You can click on the link below for complete details:
https://www.npci.org.in/what-we-do/upi/live-ipo
In case of any complaints regarding the ASBA application applied through UPI whom can I approach?
You may raise a complaint from the UPI App where you have placed the order or bring the issue to the knowledge of your bank through any other mode against the Unique Mandate Number for hold marked in bank account.
Who should I contact for support if hold marked in my IDFC FIRST Bank account is not removed post allotment process is completed?
You can reach out to your branch or raise the issue using the link below:
https://www.idfcfirstbank.com/support/complaints
Which are the Categories of investors for IPO through ASBA?
There are 3 investor categories available for bid:
Retail Individual Investor (RII) : Any individual/NRI/HUF application or bid for securities of or for a value of not more than 2,00,000/- and can apply at Cut off Value
Non Institutional Investor (NII): Any high Net worth Individual with application or bid for securities for value more than 2,00,000/- and cannot apply at Cut off Value
Qualified Institutional Buyer (QIB) : Investor category as Mutual Funds, Public Financial Institutions, Foreign Portfolio Investors and Commercial bank
Can I modify/rebid my IPO application?
Yes, however the investor should note that:
A retail Individual Investor can revise the IPO application any time during the bidding period without any restriction. A Non Institutional Investor/ HNI can revise the IPO application only to upgrade the bid application. Downgrade from the existing Bid Application is not permitted to Non Institutional Investor/HNI category.
