SEBI vide its circular no. SEBI/CFD/DIL/DIP/31/2008/30/7 July 30, 2008
introduced a supplementary process of applying in public issues, viz., the “Applications Supported by Blocked Amount (ASBA)” process.
The ASBA process shall be available in all public issues made through the book building route.
The main features of ASBA process are as follows:
- Meaning of ASBA: ASBA is an application for subscribing to an issue, containing an authorisation to block the application money in a bank account.
- 2. Self Certified Syndicate Bank (SCSB): SCSB is a bank which offers the facility of applying through the ASBA process.
For more details on the ASBA process, please refer to the SEBI circular mentioned above.
Click here to download List of SCSBs