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What is ASBA?

Applications Supported by Blocked Amount (ASBA) is a method developed by SEBI to block the funds for Initial Public Offer (IPO), Rights issue, Follow-on Public Offer (FPO) etc., applications. In ASBA, an IPO applicant's bank account doesn't get debited until they receive the allotment of shares. Investors may submit their ASBA Applications to these SCSB (Self Certified Syndicate Banks). See List of SCSBs