SBI Online ASBA Facility : State Bank of India

Name of the Organization : State Bank of India (sbi.co.in)
Type of Facility : Online ASBA Facility
Location : Mumbai

Website : https://www.sbi.co.in/

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ASBA :
ASBA is a supplementary process for applying in public issues. ASBA facility can be used for Initial and Follow-on Public Offers (IPO and FPO), Rights Issues, and Debt Issues. Under ASBA, funds will continue to earn interest during the application processing period, if held in an interest bearing account. Bank will mark a lien on the deposit account of the investor to the extent of the application money. The lien will be removed immediately after finalization of the basis of allotment. If bid is successful, the deposit account will be debited and the alloted shares will be transferred to the applicant’s Demat account.

An Investor can apply through ASBA, provided he/she :
** is from any of the approved categories eligible to apply in IPO as per SEBI guidelines.
** maintain a Savings Bank or Current Account with SBI.
** has a Demat account with any of the DPs along with Permanent Account Number (PAN).
** has sufficient clear credit balance in his/her Savings Bank or Current account for application money. ASBA facility is not available on any type of overdraft or loan accounts.

Important Points :
Equity :-
** A Retail Individual Investor (Individual, HUF, Trust, Employee or shareholder who applies up to Rs 200,000/-) can also modify, revise or delete the bid within the bidding period.
** Investors from all other categories cannot withdraw / delete the application and can modify / revise the bid only for a higher amount.
** Multiple applications by a single investor are not allowed, however an investor can make 5 applications from a single deposit account in the name of different persons.

Debt :-
** Multiple applications by a single investor are allowed.
** An investor can withdraw the application during the bidding period but cannot modify the application.
** An Investor can make 5 applications from a single deposit account in the name of different persons.

Online ASBA facility :
** User can apply electronically without the need of any physical application form. Internet Banking users should log on to www.onlinesbi.com and go to e-services> IPO (Equity) ASBA or IPO (Debt) ASBA option. 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.
** All SBI customers, irrespective of the branch where they maintain account, can apply through Internet Banking. Any SBI customer, who has a Savings or Current Account, can register for Internet Banking facility and apply for ASBA.

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

Contact Details :
Address :
State Bank of India
Capital Market Branch
Videocon Heritage (Killick House),
Ground Floor,
Charanjit Rai Marg,
Fort, Mumbai 400 001

Email : sbi.11777@sbi.co.in , nib.11777@bi.co.in

Contact Person : Dy. Manager

Most Important Terms & Conditions :
1. An investor should be from the approved category as per SEBI guidelines.
2. An investor should maintain a Savings Bank or Current Account with SBI.
3. An investor should have Demat account with any of the DP.
4. An investor should have Permanent Account Number (PAN).
5. An investor should have sufficient clear credit balance in the Savings Bank or Current account for application money.

For More Details, Click Here : https://www.sbi.co.in/user.htm?actio…&id=0,1,21,703