• Securities and Exchange Board of India (SEBI) had introduced a supplementary process of applying in Public issues viz Applications Supported by Blocked Amount (ASBA) process which could be offered only by a Self Certified Syndicate Bank (SCSB).  It shall co exist with the current process wherein cheques is used as a mode of payment of application money.
• Our Bank had been admitted as a SCSB for ASBA Phase II by SEBI and is eligible to act as a SCSB for all issues.
• The ASBA Phase II service is made operational in the Bank with effect from May 3, 2010.
• The facility is available at the following Branches of the Bank as on 29/10/2010

  State	Zone	Branches
  Andhra Pradesh	Hyderabad	Hyderabad Main (1)
  Bihar	Patna	Bhagalpur (1)
  Gujarat	Ahmedabad	Ahmedabad Main, Anand, Baroda, Bhuj, Bhavnagar, Daxini Society, Naranpura, Navrangpura, Mehsana, Paldi, Rajkot, Surat, SG Road (13)
  Jharkhand	Patna	Bokaro Steel City, Dhanbad, Hazaribagh, Jamshedpur, Ranchi (5)
  Karnataka	Bangalore	Bangalore City (1)
  Kerala	Ernakulam	Ernakulam (1)
  Maharashtra	Mumbai	Andheri,Bhavans Campus, Borivali (West), CBD Belapur, Chembur, Cumbala Hill, Dadar, Ghatkopar, Goregaon, JVPDS, Kandivali, Malad (West), Matunga Bazaar, Mumbai Fort, N S Road, Nariman Point, Oshiwara, Prabhadevi, Santacruz, Sion, Thane (West), Vashi, Vile Parle, Wadala (24)
  New Delhi	New Delhi	New Delhi Main, South Extension (2)
  Tamilnadu	Chennai	Nandanam, Harbour, Mylapore (3)
  .	Coimbatore	Coimbatore Main (1)
  West Bengal	Kolkatta	Dharamtolla, G C Avenue, Jodhpur Park, Kidderpore, Kolkatta Main, Russel Street, Salt Lake, Shyam Bazaar, Strand Road (9)

• ASBA facility can be utilised presently by all categories of investors including Qualified Institutional Buyers for applying to IPOs coming through the Book Building route and Rights Issues.

• ASBA facilities:
  • ASBA facility is available only to our customers who are maintaining a SB account (other than Smart Kids) / Current account with our Bank.
  • The investor has to make an application in the specified form with all columns filled in
  • The Bank will create a hold in the investor’s account with the Bank equivalent to the application money (highest of the bid amount).
  • The application will be uploaded to the BSE / NSE system towards building the Book.
  • On allotment, the bank gets the details from the Registrar to the Issue and based on which the amount equivalent to the number of shares allotted multiplied by the price is transferred to the Issuer’s account and the hold is lifted for the balance amount.
  • In the case of the investor not getting any allotment, the hold is removed on the entire application money.
  • When the Issue is open the investor has the option to vary the bid price.

• Benefits to the Investor:
  • For SB account holders the application money/bid amount is not parted and is only blocked in the account till allotment is finalised and will be earning interest during the intervening period. 
  • Safe way of investing. 
  • Hassle free refund process.  Instead of the earlier waiting period of getting the refund cheque in case of non allotment/partial allotment, there is no waiting period under ASBA process.  On allotment/partial allotment, the amount is unblocked and amount is transferred to the issuer to the extent of allotment amount and the account holder could utilise the unblocked funds for further issues/other purposes.
  • On allotment, the status of allotment can be ascertained from the Branch

Please refer to FAQ on ASBA in SEBI website

» www.sebi.gov.in/faq/asbaprocess.pdf