What is ASBA?
Application Supported by Blocked Amount (ASBA) is a process used to apply for Initial Public Offerings (IPOs) or Follow-on Public Offerings (FPOs) in India. Under this process, investors' application money remains in their bank accounts but is temporarily blocked or reserved until the shares are allotted. Once the shares are allotted, the blocked amount is debited from the investor's account, and the remaining amount is unblocked or released. Investors may submit their ASBA applications to these SCSB (Self Certified Syndicate Banks) (WEB).