ASBA - Personal Banking

Most Important Terms & Conditions

An Investor can apply through ASBA, provided he/she
In public issue

• Is from any of the approved categories eligible to apply in IPO as per SEBI guidelines.
• Has a Demat account with any of the Depository Participants (DPs) and also has a Permanent Account Number (PAN).
• Has sufficient clear credit balance in his/her Savings Bank or Current account to block funds to the extent of application money. i.e. the application amount is blocked only against/ in the funded deposit account and that clear demarcated funds are available for ASBA applications.
• ASBA facility is not available on any type of overdraft or loan accounts.

In Rights issue

ASBA facility in right issues will be available to all shareholders of the issuer company as on record date provided if he/she:

• Has a Demat account with any of the Depository Participants (DPs) and also has a Permanent Account Number (PAN).
• Holds shares in dematerialized form and has applied for entitlements and /or additional shares in the issues in the dematerialized form.
• Has not renounced his / her entitlement in full or in part,
• Is not renouncee to the issue,
• Is from any of the approved categories eligible to apply in IPO as per SEBI guidelines.
• Applies through a Savings/ Current account maintained with the bank.
• Applies using right application sent by the Company.

Equity

• A Retail Individual Investor (Individual, HUF, Employee or shareholder investor applying such that the Bid amount does not exceed Rs 200,000/-, net of discount) can modify, revise or delete the bid within the bidding period. i.e. till the closure of the bid period.
• All other categories (Qualified Institutional Buyers and Non-Institutional Bidders where the minimum bid size shall be such that the bid amount exceeds Rs.2,00,000/-) can neither withdraw the bid nor lower the size of their bids at any stage. For these categories only, modification/ upward revision is allowed. Deletion facility is not available.
• It is not necessary to have a Demat account with SBI for applying through ASBA. Customer having Demat account with other entities can also apply through the SBI- ASBA facility.
• An investor making application using any channel shall use only his/her own bank account or only his/her own bank account linked UPI ID to make an application in public issu

Debt

• An investor can withdraw the application during the bidding period but cannot modify the application.

Online ASBA facility

• Investor with who have internet banking facility (INB) on their deposit account, with transaction rights can bid on “Onlinesbi” under ASBA facility. For such investors, here is no need to submit physical application form to any branch. Internet Banking users should log on to www.onlinesbi.com and go to e-services >> Demat & ASBA services>> IPO (Equity) ASBA or IPO (Debt) ASBA option.
• Any SBI customer, who has a Savings or Current Account, can register for Internet Banking facility.
• All SBI customers, irrespective of the branch where they maintain account, can apply for ASBA through Internet Banking.
• A hold will be marked on the total amount, at the highest price bid by the applicant.
• Application money shall remain blocked up to the finalisation on the basis of allotment.
• Account will be debited after the allotment of shares.

• If any information furnished by the applicant is incorrect, the Bid is liable to be rejected and the Bank shall not be liable for losses if any.

Contact Details

Capital Market Branch, Mumbai is the Nodal Branch for ASBA .

Address :
State Bank of India, Capital Market Branch ,
3rd Floor, SBI Mumbai Main Building,
Mumbai Samachar Marg,
Fort, Mumbai 400 001
Telephone : 022-22719112, 22719102
Fax : 022-22719126, 22719125
Email : sbi.11777@sbi.co.in, nib.11777@sbi.co.in
Contact Person : Dy. Manager