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ASBA (Application Supported by Blocked Amount) is a way to apply in IPO by simply blocking the fund in the bank account.
ASBA stands for 'Application Supported by Blocked Amount'. ASBA is an application mechanism which gives an authorization to Self Certified Syndicate Bank (SCSB) to block the application money in the bank account for subscribing to a public issue. If an investor is applying through ASBA, his/her application money got debited from the bank account after the basis of allotment is finalized and the application is selected for allotment or the issue is withdrawn/failed. It is mandatory for all public issues opening on or after January 01, 2016 to apply through ASBA only. The investor can download e-form from NSE website for any issue. Also they can download the form from BRLM's (Book running lead manager) website.
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