@ sahaaysingh 737.4
Not necessary to have demat a/c with sbi for ASBA as well as cheque payment.
Even in icici demat account you can handover cheque of sbi or any other bank.The cheque will get debited after issue closes.The issue may closes within 2-3 days also if issue gets full subscription within 1-2 days.Check subscription data after 5 p.m through exchange site.
For asba you need only three things - pan , demat a/c number and sufficient funds at least 10000.
Advantage of ASBA :- anytime cancellation till 2 p.m on last day
Advantage of cheque payment :- receive interest till allotment.( Normally 1 week )
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