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SBI to launch ASBA from Monday

September 1, 2008 by admin  

India’s largest bank State Bank of India (SBI), which has been certified as Self Certified Syndicate Bankers by market regulator Securities and Exchange Board of India (SEBI), is set to launch the facility of Applications Supported by Blocked Amount (ASBA) from Monday, September 1, 2008 to retail investors in shares.

Investments up to Rs 1 lakh would be entertained under the facility. Investors having the account in any of the 24 identified branches of the bank will be able to apply for shares at any of the identified branches.

The facility will ensure that the investors do not have to part with their money till the allotment is finalised. Thus, the investors who do not get the allotment would not have to wait for the refund. This is an extremely investor friendly measure taken by the bank.

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Comments

2 Responses to “SBI to launch ASBA from Monday”

  1. Akil on February 22nd, 2010 8:13 pm

    I have a/c with sbi , but sbi br. Has not provide us Asba physical forms for ipo.

  2. Ravi Shankar Prasad on June 21st, 2010 9:45 am

    I have an account with sbi ,but SBI branch has not provide ASBA physical forms for IPO

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