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Friday, August 1, 2008

[SEBI-ASBA] now Block your Share Application money in your Account itself, till allotment

ASBA - Applications Supported by Blocked Amount
Yes, this is a way to subscribe for Shares through Book Building, which is in addition to the existing way of subscription.  It helps to block the application money in your very own Bank Account.  Your normal Bank Account itself will serve the purpose.  No special request to be given in this regard, provided your bank is an SCSB.
The banks with ASBA facility are called "Self Certified Syndicate Bank" (SCSB), the list of which is maintained by SEBI.  Check out whether your bank is there in the list from
Ask yourself, Are you a Retail Investor who is DIRECTLY bidding @ Cut Off in a Book Built issue and has no plans to change your Bid.  In Book Building, three type of Prices to be known,
1. Floor Price - the lowest price fixed in the issue;
2. Cap Price - the highest price fixed in the issue;
3. Cut Off Price - the Final Price, which is determined by the Company & Merchant Banker in consultation with Stock Exchange.


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