ASBA means “Application Supported by Blocked Amount”. ASBA is an application by an investor containing an authorization to Self-Certified Syndicate Bank (SCSB) to block the application money in the bank account, for subscribing to an issue. If an investor is applying through ASBA, his application money shall be debited from the bank account only if his/her application is selected for allotment after the basis of allotment is finalized.

• Physical ASBA: Under ASBA facility, investors can apply in any public/ rights issues by using their bank account. Investor submits the ASBA form (investor has to download the form using the stock exchange(s) link) after filling the details like name of the applicant, PAN number, Demat account number, bid quantity, bid price and other relevant details, to the bank branch by giving an instruction to block the amount in their account. In turn, the bank will upload the details of the application in the bidding platform. Investors shall ensure that the details that are filled in the ASBA form are correct otherwise the form is liable to be rejected. Investors can also apply in IPOs through online/electronic mode if the SCSBs are providing such facility.
• Internet banking ASBA: Investor can login to the UBI internet banking and register themselves using the register for ASBA tab. Registration is one-time exercise. Application for live public issue can be made using ‘Apply for IPO’ tab.
• Mobile banking (VYOM): Applications for public issues can also be made using our mobile banking app VYOM. Flow for application will be:
  • VYOM login – Invest and Insure – ASBA – Apply for IPO
  • Kindly note that one-time registration is required for using ASBA services in VYOM.
• UPI: Individual Investors can participate in the ASBA process using UPI facility. Application value should not exceed Rs 5 lakhs in case of UPI mode. Investors can login to their broker app/website and can apply for IPO by selecting UBI UPI handle. The mandate thus generated must be accepted up to 17:00 hrs. on the closing date of the public issue.

All the investors having a Demat Account, and a Bank a/c 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 is holding shares in dematerialized 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 renounce; who is applying through blocking of funds in a bank account with the SCSB.

The application form can be obtained from the broker in physical form or downloaded from the (NSE/BSE) Exchange’s web site. Link for the same is: 

• Nse: https://ipoforms.nseindia.com/issueforms/html/index.jsp         
• Bse: https://ibbseforms.bseindia.com/ASBAFORMS/BlankForms_New.aspx?ipo

Kindly note that application forms with random application numbers will be rejected by exchange. In case of Rights issue, if Composite application form no (CAF no) is not available, client id of investor can be used as application number.

Applying through ASBA facility has the following advantages: 

• The investor continues to earn interest on the application money as the same remains in the bank account. 
• The investor does not have to bother about refunds, as in ASBA only that much money to the extent required for allotment of securities, is taken from the bank account only when his application is selected for allotment after the basis of allotment is finalized.

No. The PAN mentioned in the ASBA application should match with the PAN linked to the bank account of the applicant maintained with the bank. In case of Rights Issue, more than one application can be made up to rights entitlement being applied for.

All the branches of Union Bank of India are authorized to accept ASBA application forms. 

No, ASBA can be submitted to the SCSB with which the investor is holding the bank account. 

No. the entire bank account will not be blocked. Only the amount to the extent of application money authorized in the ASBA will be blocked in the bank account. The balance amount, if any, in the account can still be used for other purposes. 

If the withdrawal is made during the bidding period, the SCSB deletes the bid and unblocks the application money in the bank account. If the withdrawal is made after the bid closure date, the SCSB will unblock the application money only after getting appropriate instruction from the Registrar, which is after the finalization of basis of allotment in the issue. 

Yes. Demat account is a pre-requisite because on allotment, the shares automatically get credited to the applicant’s Demat a/c.

No. Investors need not necessarily have their DP account with the SCSB, where they are submitting the form. 

Acknowledgement is given by the branch in case of physical application forms submitted at the branch at the time of submission of ASBA. In case of applications submitted on internet banking/VYOM, acknowledgement is generated on net banking/VYOM itself.

• Withdrawal: Retail individual investors can withdraw ASBA bids up to the closure of the issue. During the bidding period you can approach the same bank to which you had submitted the ASBA and request for withdrawal through a duly signed letter citing your application number. Withdrawal/modification of online ASBA application can be done by the investor him/herself after the original bid is uploaded on the exchange (s).

  However, non-retail investors i.e. Qualified Institutional Buyers and Non-Institutional Investors are not eligible to withdraw their bids at any time.

• Modification: Retail individual investors can modify ASBA bids up to the closure of the issue. However, downward revision of bids is not permitted for non-retail investors i.e. Qualified Institutional Buyers and Non-Institutional Investors.

In case the issue is withdrawn, the lien will be automatically removed by ASBA department upon receiving confirmation from the RTA. 

Application can be submitted to branches during normal banking hours on all days except the last day of the issue open period. On the last day of the issue open period, the applications can be accepted at branches only up to 2:00 PM.

No. Only CASA Accounts can be used for making ASBA applications. Accounts enjoying credit facilities are not eligible for making ASBA applications.

If there is any bidding or lien related issue, the applicant should write to asba@unionbankofindia.bank

Contact details of ASBA department:

Mail id: asba@unionbankofindia.bank

IP No: 065524

Landline: 022-22629404

If the customer is not satisfied with the reply, he can also raise the complaint in SEBI SCORE portal

SEBI Score Portal URL: https://scores.sebi.gov.in/