Now apply for IPO through ASBA [Applications Supported by Blocked Amount] Facility provided by IDBI Bank.
IDBI Bank savings / current account now makes IPO application a seamless and hassle-free process. Instead of moving out funds from your account for application to an IPO, the amount can now simply be blocked.
- You don’t need not pay the application money by cheque rather block your bank account to the extent of the application money, thus continue to earn interest on application money.
- You do not have to bother about refunds, as in ASBA only an amount proportionate to the securities allotted is taken from the bank account when your application is selected for allotment after the basis of allotment is finalized.
- The application form is simpler.
- You deal with the known intermediary i.e. your own bank.