Simple, Secure and Smart

SCSB are bank, which are certified by SEBI, which allows all investors to apply in IPO’s using ASBA. SCSB’s has the capability to block the IPO Application amount until the IPO allotments are done. 

Investors applying using the ASBA reap the following benefits:
•    No loss of interest, since the application amount is not debited.
•    The amount for which no shares have been allotted is available immediately on completion of allotment process. There is no need to wait for the amount to be refunded by the company and be credited to the Account.
•    Since the amount is available in the Account, it is considered for calculation of the Average Quarterly Balance [AQB].
•    Customer can revise/withdraw the bid before the end of the Issue in the prescribed format with the Bank.

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. In rights issues, all shareholders of the company as on record date are permitted to use ASBA for making applications provided he/she/it:
•   is holding shares in dematerialised form and has applied for entitlements or additional shares in the issue in dematerialised form;
•   has not renounced its entitlements in full or in part;
•   is not a renouncee;
•   who is applying through blocking of funds in a Bank Account with the Self-Certified Syndicate Bank.

No, ASBA can be submitted to the SCSB with which the investor is holding the Bank Account.

Yes, you can make application through ASBA facility in all the issues i.e. public and rights.

Five [5] applications can be made from a Bank Account per issue.

Applications has to be submitted with the branch during the banking hours and before 2 PM on Issue closure date.

•    You have to visit the nearest Utkarsh Small Finance Bank Branch for applying in IPO. It is not essential that you hold an account with that branch, but you should have an account with the Bank.
•    Fill in the details like Account number, PAN, Demat Account, Bid details etc. in the designed ASBA application form of the IPO you wish to apply in and submit at the branch.
•    You will receive the acknowledgement copy from the Branch.
•    Subsequently, Bank will block the amount on your highest bid in your specified Bank Account for the IPO as applied and the application information to the designated stock exchange for that IPO. 
•    Incase of insufficient amount in your Bank Account, the bank will reject the IPO application and will not send the bidding to the stock exchange.
•    The registrar to the issue will receive the data uploaded in the electronic bidding system of the Stock Exchange and will only check the correctness of DP-ID, Client ID/Beneficiary Number and PAN. The Registrar will then complete the basis of allotment and the same will be approved by the designated stock exchange.
•    On receiving the approval, the registrar will send Bank information containing the investor-wise details of allotment and non-allotment and the money that has to be debited to the Account. Basis the allotment file, Bank will debit your Account for the allotment money and will release the block on the remaining amount in the Account.
•    Subsequent to this, the issuer will make the allotment and shares will be credited to your Demat Account.

Yes, you can place a withdrawal request anytime during the bidding period. Any request for bid withdrawal should be made during the banking hours and on or before 2 PM of the issue closure date and will be subject to acceptance of Stock Exchange after which the application amount in your Account will be unblocked. 

In-case of upward revision of bid, lien will be marked on the differential bid amount.
Investor applying below Rs. 2 Lakhs are allowed for upward and downward revisions of bids or bid withdrawal. Investor applying above Rs. 2 Lakhs are only allowed upward revision of bids before the issue gets closed. Withdrawal of bids above Rs. 2 Lakhs is not allowed.

Once the issue date is closed, that will be considered as Transaction Day. Allotment will be done in T 4 working days [till that time the lien will be marked]. Once the allotment confirmation is received from the registrar, then the blocked amount will be released in one working day.

The amount will be debited only if you receive an allotment of shares. If no shares are allotted, the blocked amount will be released.

In-case of any complaints the investors shall approach the Bank, where the application form was submitted or the Registrar to the Issue.

An investor, who has received the common application form from the registrar of the company floating the right issue, has the option of applying through ASBA at any of the branch of the Bank. The process is similar to that of IPO. 

No, Bank do not charge any fee for using the ASBA facility.