IPO Application using ASBA

#63
Cut-off time to apply online using ASBA?

When I applied for IPO using SBIonline ASBA, the request placed after 02:30 PM IST on penultimate day (of closing date) was scheduled to be put into service the next (or last) day. Does that mean we can only apply before a threshold time (here 02:30 PM) on last day too, and be devoid of the latest subscription figures approaching closing time?
 
#64
You mean when opening the account? My account was opened long back. Do you know how to enable ASBA now?

I applied 1st time through ASBA from SBI for my mother. Really liked it. Got mail on the allotment status and refund deadline.:top:.
I just checked ASBA facility on my online SBI page. In "IPO" ->"Apply for the new IPO" section, I need to "Accept" some conditions. The conditions says:

Please note this application form is meant only for eligible ASBA bidder(s) as per the applicable provisions of the SEBI (Issue of Capital and Disclosure Requirement)Regulation, 2009, to apply within price band and with the right to Modify/Delete the Bids. Investor must have an account with any of our branch (Savings or Current account including Overdraft account).

Please note that the sequence of names will be taken as per the sequence of names held with the DP. PAN should also match with First beneficiary name in the DP. It is in the interest of investor to verify that the correct details of PAN, DP and beneficiary account are given. In case of insufficient balance in the deposit account the application will be rejected by Bank itself. Further, if the information furnished by the applicant is incorrect, the Bid is liable to be rejected and the Company and Bank would not be liable for losses, if any. An investor can apply only up to 5 applications per IPO from a single account.The Amount blocked will be the highest amount of bid options.(No of equity Shares for multiplied by price per share/cut off price, as the case may be).

Please proceed if you are eligible to apply as above as individual investor,Employee,Shareholder or HNI etc.
This means if I have this SBI account (in my name) and my brother has a DP account in his name. Then I just can't apply for an IPO on his behalf from my SBI account. Isn't it?

If yes, then InvestorB how come you had applied from SBI for your mother?
 
#65
This means if I have this SBI account (in my name) and my brother has a DP account in his name. Then I just can't apply for an IPO on his behalf from my SBI account. Isn't it?

If yes, then InvestorB how come you had applied from SBI for your mother?
From one S/B account, you can apply upto 5 applications. You should be able to apply from your bank account using your brother's DP.

For me, both bank and DP accounts was in my mother's name.
 
#66
From one S/B account, you can apply upto 5 applications. You should be able to apply from your bank account using your brother's DP.

For me, both bank and DP accounts was in my mother's name.
Are you sure? I have exactly the same problem. I wanted to apply on behalf of my wife's DP account using my SBI account.

Can anybody confirm, if it's really possible? I don't want rejection of my application.

Thanks.
 
#68
Are you sure? I have exactly the same problem. I wanted to apply on behalf of my wife's DP account using my SBI account.

Can anybody confirm, if it's really possible? I don't want rejection of my application.

Thanks.
SBI allows you to do that.

I just found I cannot do that with HDFC online banking. I want to apply using my HDFC bank account and mother's DP account. But the online ASBA form, my name and PAN details are pre-populated and does not allow to change it. :banghead:

By default, the Netbanking user will be that of the 1st applicant.
 
#69
how to check ASBA application allotment

i have applied GRAVITA with axis bank ASBA route and i got application no. 211I0068377 with "blocked" status. while on registare's website dont allow any 'alphabate' in applicaiton No's field at allotment check page. so can any one let me know how to check it when allotment came out ? plz guide this as such kind of confusion might faced by lots of other applicant too.. thanks in advance from me and for all others too...
 
#70
HDFC reply to my email asking that their online form be updated to allow use of different PAN other than the account holder for ASBA application:
Please note that you can apply for IPO application once with your bank account and with the same PAN details.

Further note that if you wish to apply for different IPO application for your family members then you can apply physically.
:D.
 
#71
SBI allows you to do that.

I just found I cannot do that with HDFC online banking. I want to apply using my HDFC bank account and mother's DP account. But the online ASBA form, my name and PAN details are pre-populated and does not allow to change it. :banghead:
HDFC reply to my email asking that their online form be updated to allow use of different PAN other than the account holder for ASBA application:
:D.
Heres more on HDFC user-friendly online IPO application:

You can go into the IPO application page from your main page. But there is no way to return back. Only option is to log out and log in back if you want to do other net banking activities :D.
 
#72
I am trying to apply for Central Bank Rights issue using SBI ASBA.

It took me a whole week to convince SBI people that some of their branches in my city are appointed as SCSB. so that account holder can apply using those branches for the rights issue. the branch manager of the particular branch called me on Monday. Let's see how it goes.

For more on ASBA read: http://www.sebi.gov.in/faq/asbaprocess.pdf

Everything in this document is written in very easy & clear manner.
 
#73
Applicant name in case of joint account holder

Hi friends,

I am trying to apply through SBI using ASBA for IPO. The DP account is jointly held by my mom and dad. So I have a query regarding the same i.e., what should be entered in applicant's name? Both the names? or first account holder's name ? If both the name then what deliminator should be used?

Thanks in advance.
 

Alchemist

Administrator
Staff member
#74
Hi friends,

I am trying to apply through SBI using ASBA for IPO. The DP account is jointly held by my mom and dad. So I have a query regarding the same i.e., what should be entered in applicant's name? Both the names? or first account holder's name ? If both the name then what deliminator should be used?

Thanks in advance.
In case the application is for a joint DP account, you have to mention only the name of the first holder.

From the application form:

In case of Bids jointly, only the name of the first Bidder (Which should be the first name in which the beneficiary account is held) should be provided in the Bid cum Application Form.
This is for joint DP accounts.

I am not sure about joint bank accounts. If a bank account is an "either or survivor" account, one signature is enough to operate the account.

Still, I think to be on the safe side, if your bank account is joint, it is better that both holders sign the ASBA form.
 
#75
Bank a/c holder's name and DP a/c holder's name combinations are two different issues.

While applying ASBA from your a/c you can apply for upto five various application from your single bank account. (This I know about SBI and BOB, not sure about other banks, but should be the same).

If your bank account is with joint name: A+B. You can still apply for upto any five applications for which you hold DP account:

A
B
A+B
A+B+C
C
 
#79
Applications with the same first holder are considered multiple bids and can be rejected.

Oh! Sorry.

I wrote an wrong example.

I mean to say that you can apply upto 5 different ASBA applications from your one account for the same IPO.

But I wrote wrong examples: A, A+B & A+B+C couldn't be done at same time.

I mean to say that you can apply for different applicants using one bank account. I apologize for the confusion.
 
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