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How To Apply ASBA Through ICICI Bank

As We have started Our Learning Series on How to Apply ASBA through Bank Account and getting it credited to any DMAT Account. So Now in this post we are going to brief you on How To Apply ASBA Through ICICI Bank.

We are taking one bank by one and taking larger banks first who have more reach as this will be going to help each of you in applying and getting understanding benefits of ASBA in long run.

ASBA is a supplementary process for applying in public issues. ASBA facility can be used for Initial and Follow-on Public Offers (IPO and FPO), Rights Issues, and Debt Issues. Under ASBA, funds will continue to earn interest during the application processing period, if held in an interest bearing account.

Bank will mark a lien on the deposit account of the investor to the extent of the application money. The lien will be removed immediately after finalization of the basis of allotment. If bid is successful, the deposit account will be debited and the alloted shares will be transferred to the applicants Demat account.

An Investor can apply ASBA through ICICI Bank, provided he/she:

Is from any of the approved categories eligible to apply in IPO as per SEBI guidelines.

Maintain a Savings Bank or Current Account with ICICI.

Has a Demat account with any of the DPs along with Permanent Account Number (PAN).

Has sufficient clear credit balance in his/her Savings Bank or Current account for application money. ASBA facility is not available on any type of overdraft or loan accounts.

How To Apply ASBA Through ICICI Bank ONLINE facility:

User can apply electronically without the need of any physical application form. Internet Banking users should log on to there ICICI Bank account and go to Investment & Insurance menu> Invest Online > Select Online IPO option and proceed.

It is not necessary to have a Demat account with ICICI for applying through ASBA. Customer having Demat account with other entities can also apply through the ICICI- ASBA facility.

All ICICI customers, irrespective of the branch where they maintain account, can apply through Internet Banking. Any ICICI customer, who has a Savings or Current Account, can register for Internet Banking facility and apply for ASBA.

Apply through Physical Application:

  • Visit the nearest designated ICICI Bank branch to apply for an IPO through ASBA. It is not essential to hold an account in the same branch, the account can be held with any ICICI Bank branch.
  • ASBA bid-cum application forms are available for download and printing, from websites of the Stock Exchanges which provide electronic interface for ASBA facility i.e. Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Please find below the links to apply for the same:
    Click here to download the form through BSE
    Click here to download the form through NSE
  • ICICI Bank account number, PAN, Demat account particulars, etc. need to be filled in the ASBA application form of the IPO and submitted to the branch.
  • Subsequently, the bank will block the amount in the specified ICICI Bank account for the applied IPO and send the application information to the designated stock exchange for that IPO.
  • The customer shall be responsible for maintaining sufficient funds equivalent to the IPO application amount in his/her account and for furnishing correct & accurate details in the ASBA application form of the IPO.
  • In case of insufficient amount in the bank account or any discrepancy in the application form, the bank shall reject the IPO application and shall not be able to send the bid to the stock exchange.
  • In case of any enquiry, the application/reference number, mentioned on the acknowledgement slip handed over at the time of the application, needs to be provided.

Hopefully the above all information will help all the investors to apply ASBA through ICICI Bank. We will be writing more about this series and will tell you How to Apply ASBA online through other Banks also.

Market Update:

Mahanagar Gas IPO share sale has came to end and now allotment and subscription will be in process. Quess Corp IPO Will open up on 29th June.

There are some good stocks in Pipeline this year including BSE itself coming with its own IPO and selling its shares on index and traded on exchange other some important IPO’s to looked upon are ICICI Prudential Life Insurance IPO, HDFC Standard Life IPO etc. So Keep watching this blog to keep yourself updated with all the news.

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Add a Comment

    1. Just make sure you have entered all details correctly rest there will be no issue

  2. how much different orders one can place for IPO through ASBA ??

    1. You can apply for 1 application only and 3 bids in that application.

  3. ICICI Bank has removed the facility to apply online thru ASBA facility. Link is no longer available now for last few months

    1. No we don’t think ICICI is going to withdraw ASBA services since all the top banks provide it and they might loose their customers due to this. Might be some position change try to find ASBA services in their online bank account.

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