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Is third party ASBA allowed in IPO application?

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Yes, IPO application with a third party bank account is allowed when using ASBA. But only a few banks including SBI offer the 3rd Party IPO Application.

Note: Private bank's like ICICI, HDFC, etc do not offer this facility.

The BSE circular on 3rd Party IPO Application

  1. Open BSE Notice No: 20190619-23
  2. Download 'Annexure I.pdf' at the bottom.
  3. Check the line:

    'Note: Trading Members with 3-In-1 account facility will have the option to provide the bank details up to five banks'

answered

2 Comments

2. Nilesh   I Like It. |Report Abuse|  Link|February 15, 2021 7:37:24 PMReply
whih bank other than SBI offer 3rd PARTY asba IPO application
2.1. Prayag   I Like It. |Report Abuse|  Link|August 11, 2021 11:15:47 AM
Indian Bank
1. Uddhav   I Like It. |Report Abuse|  Link|July 28, 2021 9:08:56 PMReply
Actually it means you can add maximum five bank accounts with your dmat

List of all questions Ask your question

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  3. Who decides the date of the issue?
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  6. What is Follow on public offering or FPO?
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  11. What is the difference between Floor Price and Cut-Off Price for a Book Building Issue?
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  14. Is it mandatory to have PAN number to apply in an IPO?
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  16. What information should I keep after I submit the IPO application form?
  17. What is 'Market Lot Size' and 'Minimum Order Quantity' for an IPO?
  18. Does applying in an IPO guarantee me to get certain amount of shares?
  19. Investing in IPO's is much less riskier then directly investing in stock market. Is that true?
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  21. How many days is the issue open?
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  26. Tips to choose right IPO for investment.
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  29. Can I place a buy order during after hour session before the listing date of an IPO?
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  31. How is IPO listing price decided?
  32. What is right issue or RI?
  33. Why does the retail Individual Investor RII bidding status is not getting updated every hour?
  34. What are the risk factors involve in applying in an IPO?
  35. Can both the joint demat account holders individually apply for an IPO?
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  37. What are the determining factors for the selection of an ipo to invest?
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  39. What is the procedure to withdraw from an IPO?
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  48. Can private limited company eligible to subscribe in non institutional category?
  49. What do you mean by pre IPO placement? Is it worth to buy any script at the time of pre IPO placement and how will it benefit the customers ?
  50. Who can apply for QIBs in IPO? WHAT is the rules and regulatin for QIBs ?
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  53. What is the listing of ipo and how the listing done ?
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  70. What fields make an IPO application unique?
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  74. Does changing the broker, bank account or applying 1st-day 1st-hour change my chance for IPO allotment?
  75. When should I expect allotment of IPO shares?
  76. When should I expect credit of IPO Shares in my Demat Account?
  77. When should I expect release of funds blocked for IPO in my bank?
  78. When should I expect listing of IPO shares?
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  86. How IPO shares price is discovered in early price discovery session?
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  147. What are the pros and cons of applying an NII quota?
  148. Is HNI allotment made from the NII category with a 15% reservation?
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