How to apply for IPO via State Bank of India SBI NetBanking (ASBA)
This post is for you, in case, you wish to apply for IPO via State Bank of India SBI NetBanking (ASBA). Your respective bank will have the corresponding ASBA section.
ASBA stands for Application Supported by Blocked Amounts. This system ensures that the amount needed to apply for an IPO is blocked in the selected savings account, without being debited. Only in the scenario of allotment is the amount finally debited.
Prerequisites before you apply IPO via State Bank of India SBI NetBanking (ASBA):
- You have a bank account with State Bank of India.
- You have a demat account (not necessarily with SBI), and you know the demat account details (viz. Demat account number, name of the DP, and know whether the Demat account is with NSDL or CDSL).
Steps to apply IPO via HDFC Bank NetBanking (ASBA):
Following are the process steps.
Go to the SBI Online Netbanking URL.
You have now successfully applied for the IPO through the SBI ASBA online application method. Refer this post to check allotment status for the applied IPO.