ASBA (Applications Supported by Blocked Amount)
New Investor friendly way to apply for IPOs
Bank of Baroda is committed to continuously enhance its offerings with innovative services leveraging advanced technology to provide maximum banking convenience to its customers.
As a "Self Certified Syndicate Bank" (SCSB) by SEBI, an additional mode for applying in IPO / FPO / Right Issues and NFO of Mutual Funds has been made available by our Bank in the form of Application Supported by Blocked Amount (ASBA) to All category of Investors who are the customers of our Bank.
What is ASBA:
- ASBA means "Application Supported by Blocked Amount", enables investors to apply for IPOs / FPOs and rights issues without making a payment. Instead, the amount is blocked in investors' own account and only an amount proportionate to the shares allotted goes out when allotment is finalized.
- It is a supplementary process of applying in initial public offers (IPO), right issues and follow on public offers (FPO) made through book building route and co-exists with the current process of using cheque as a mode of payment and submitting applications.
- Bank is providing this value added service free of cost for issues with book building at Stock Exchanges.
Benefits of ASBA to Investors:-
- The investor need not pay the application money by cheque rather block his/her bank account to the extent of the application money, thus continue to earn interest on blocked money in the account.
- The investor does not have to bother about refunds, as in ASBA only an amount proportionate to the securities allotted is taken from the bank account when his/her application is selected for allotment after the basis of allotment is finalized.
- The application form is simpler and can be downloaded from BSE / NSE websites and need not to visit the office of broker / consultant to collect blank form or deposit the filled up form.
- The investor deals with the known intermediary i.e. his/her own bank.
Eligibility of Investors:-
All investors who are having a current / savings bank account with our bank can apply IPO/FPO/NFO/Right issues using ASBA facility thorough his/her bank account with us.
How to Apply for IPOs / FPOs /NFOs:
Applying through ASBA is simple. Please follow the process given below:
- If you are a Baroda Connect (Net Banking) customer of the bank, viz. that you have a login ID with transaction password and you use our net banking portal to carry online banking transactions, click the following link. The link shall provide you all necessary information and process to apply ASBA online.
Click here to view user guide to make online ASBA application
- If you are not registered as net banking customer and therefore do not have a login ID and transaction password, you may download a blank application form for ASBA and submit the same to any of our bank’s ASBA designated branch near to you after filling it up with following information.
- DP ID
- Client ID
- Bid Quantity
- 14 digits bank Account number
The investors should take utmost care to provide the above details correctly in their ASBA application forms.
Click here for ASBA e-Form and view the current IPO/FPO/Right Issue provided by NSE
Click here for ASBA e-Form and view the current IPO/FPO/Right Issue Provided by BSE
To Submit the filled up application form at nearest Designated Branch of the Bank, you may view the present list of 4421 Designated Branches.
Click here to view ASBA designated branches
Our Bank has started Syndicate ASBA facility at 655 identified centres as suggested by SEBI
Click here to view Syndicate ASBA designated branches
Bank does not own any responsibility for error attributable to failure of Technology, Computer Systems and consequences there of to the customer. Bank's liability as a consequence of human error attributable to Bank's employees is limited to an amount equivalent to interest at rates applicable to savings Bank accounts on the blocked amount. Bank is not liable for any thing more with respect to the transaction other than that as expressly stated above.