IPO Application through ASBA

Why choose this product?

  • 1

    The amount remains blocked in your bank account for the IPO application.

  • 2

    Earn interest on the earmarked funds.

  • 3

    The amount is debited only when the shares are allotted to you.

What is the process to apply for an IPO through ASBA Online?

  • Login to your NetBanking Account
  • Click on the link named "IPO Application" under Request on the left side menu.
  • Select one of the IPOs you want to apply for and mention up to 3 bids.
  • Enter your depository details.
  • Place and confirm your Order.
  • You would then be required to accept the "Terms & Conditions" before submitting the bid.

Important Notice

Features and Benefits of IPO Application through ASBA

To keep up with India’s growth story, a large number of companies look to tap the primary markets to raise capital through Initial Public Offerings (IPO's). As most IPO's are oversubscribed, the shares allotted to you are far less than what you apply for. In the process, not only you run out of cheque leaves but the balance in your bank account also takes a dip.

However, the IPO Application through ASBA is an investor-friendly way to apply for any IPO. The ASBA (Application Supported by Blocked Amount) is an interface which ensures that your funds leave your bank account only when you are allotted shares in public issues. Within this period, you will continue to earn interest on your savings account.

Am I eligible to invest in ASBA?

An Investor shall be eligible to apply through the ASBA process, if he/ she:

In public issues:

  • Is from any of the approved categories eligible to apply for an IPO, as per SEBI guidelines.
  • Maintains a Savings Bank or Current Account with HDFC Bank.
  • Has a Demat account with any DP along with a valid Permanent Account Number (PAN).
  • Has a sufficiently clear credit balance in his/her Savings or Current account (NOT including any overdraft limit)

In rights issues: All shareholders of the issuer company as on the record date provided if he/ she/it:

  • Holds shares in dematerialised form and has applied for entitlements and /or additional shares in the issue in dematerialized form
  • Has not renounced his/ her entitlements in full or in part
  • Is not a renouncee to the Issue
  • Is from any of the approved categories eligible to apply for an IPO, as per SEBI guidelines.
  • Maintains a Savings Bank or Current Account with HDFC Bank
  • Has a Demat account with any DP along with a valid Permanent Account Number (PAN).
  • Has a sufficiently clear credit balance in his/her Savings or Current account (NOT including overdraft limit)

What is the application process that I need to follow?

Apply Online

  • If you are an HDFC Bank NetBanking customer, you can now apply online. Log in on NetBanking and select the "IPO Application" option from the bottom left menu. You will then be re-directed to our IPO Online System.
  • The IPO Application is only for individuals and applications cannot be made on behalf of a Corporate, HUF, Trust, etc.
  • Please note that the sequence of names of the applicants should be as per the sequence of names held with the Depository account.
  • By default, the NetBanking user will be that of the 1st applicant.
  • A hold will be marked on the total amount, at the highest price bid by the applicant.
  • Application money will remain blocked up to the finalization on the basis of allotment.
  • Account will be debited post the allotment the shares.
  • Further, if the information furnished by the applicant is incorrect, the Bid is liable to be rejected and the Company and Bank would not be liable for losses, if any.
  • Please ensure that the name on the PAN card matches with the Demat Holder's name.

Click here to Apply Now

Apply through Physical Application

  • Visit the nearest designated HDFC Bank branch to apply for an IPO through ASBA. It is not essential to hold an account in the same branch, the account can be held with any HDFC Bank branch.
  • ASBA bid-cum application forms are available for download and printing, from websites of the Stock Exchanges which provide electronic interface for ASBA facility i.e. Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Please find below the links to apply for the same:
    Click here to download the form through BSE
    Click here to download the form through NSE
  • HDFC Bank account number, PAN, Demat account particulars, etc. need to be filled in the ASBA application form of the IPO and submitted to the branch.
  • Subsequently, the bank will block the amount in the specified HDFC Bank account for the applied IPO and send the application information to the designated stock exchange for that IPO.
  • The customer shall be responsible for maintaining sufficient funds equivalent to the IPO application amount in his/her account and for furnishing correct & accurate details in the ASBA application form of the IPO.
  • In case of insufficient amount in the bank account or any discrepancy in the application form, the bank shall reject the IPO application and shall not be able to send the bid to the stock exchange.
  • In case of any enquiry, the application/reference number, mentioned on the acknowledgement slip handed over at the time of the application, needs to be provided.

Already availed of the IPO Application through ASBA?

Did you know?

  • In the case of existing Fixed Deposits, you can create an Overdraft through Super Saver and apply through ASBA

You can also benefit from

  • HDFC Bank’s Wealth Services facility to help you organise your financial portfolio based on your risk profile and financial objectives. Click here
  • Our Tax Planning service to help you pay your taxes and know your tax liability. Click here
  • Mutual Funds so you can be assisted by us to invest your funds wisely and make your funds grow. Click here

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