ASBA-User Guide - South Indian Bank

THE SOUTH INDIAN BANK LTD.
ASBA-User Guide
Applications Supported By Blocked Amount (ASBA)
For the Use of SIB Internet Banking Customers
Document Version Number
Document Date
1.0
18-11-2010
ASBA User Guide
Application Supported by Blocked Amount (ASBA)
Application Supported by Blocked Amount (ASBA) refers to an application mechanism for
subscribing to initial public offers (IPO). The system, which ensures that the applicant’s money
remains in his/her account till the shares are allotted, was introduced by SEBI in 2008. ASBA
process facilitates investors to apply through Self Certified Syndicate Banks (SCSBs), in which
the investors have bank accounts. SCSBs are those banks which satisfy the conditions laid by
SEBI. SCSBs would accept the applications, verify the application, block the fund to the extent of
bid payment amount, upload the details in the web based bidding system of NSE, unblock once
basis of allotment is finalized and transfer the amount for allotted shares, to the issuer.
Advantages :
The amount that is required to make share allotment is debited to the account after the bid is
selected for allotment after the basis of allotment is finalized. Therefore, the applicant need not
worry about the refund in case he/she is not allotted any share. Moreover, since the money
remains in the bank account, he/she does not lose out on the interest that can be earned during
the period.
SIB Internet Banking (SIBERNET) - ASBA Process flow in a nutshell
An IPO opened in NSE will be available for the SIB Internet Banking (SIBERNET) Retail
Customer. The Customer can apply a maximum of 3 bids for an IPO with any of the linked
accounts in the SIBERNET. Once applied for an IPO, the customer account is marked with a lien
amount of the maximum bid value. The customer is entitled to modify/cancel/withdraw only
after receiving the order no. from NSE.
The customer is given the privilege to modify / cancel / withdraw bids before close date of the
IPO. Each action will create a lock on the bids, till the response received from NSE. The status of
the bids at any stage can be known by reviewing the Receipt provided in the SIBERNET, based
on the response received from NSE.
On allotment, the customer account is debited as required and lien on the account is lifted.
Any rejection of the application by the Registrar after the close date will not be updated in
the system.
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Operational Guidelines for SIB Internet Banking Retail Customer
A SIBERNET Retail Customer can access the ASBA operations by clicking on the link
‘ASBA’. Then it will be directed to IPO main page.
Application for a new IPO
To apply for new IPO click on the link ‘Apply for new IPO’.
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The user will be directed to the following page.
Here all the active IPOs will be displayed. User has to select the IPO Name and Investor
Category. Only after checking the prospectus read status user can continue the next page.
Click on the button ‘NEXT’ to continue.
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User can apply a maximum of 3 bids for an IPO.
Amount blocked will be the maximum total value.
Depository name should be CDSL or NSDL.
In addition to the BID details, User has to enter the details like DP ID, Client
ID/Beneficiary ID/ PAN Number/Beneficiary Account No.
Then click on Apply button. After successful validations of the system, a page will be displayed,
where the User has to type in the transaction password for confirmation.
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On successful validation of transaction password, highest amount will be blocked.
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Modification of Applied Bids
Login to SIBERNET Retail  ASBA  Withdraw IPO/Modify IPO
Select the IPO to be modified and click on Modify button.
Conditions
1) Modification is only allowed after receiving the response of the applied IPO.
2) Modification of already modified bid is allowed only after receiving the
response of the Modified Bid.
3) If the user wants to cancel a bid, he/she has to mark the No. of Shares as 0.
After modifying the applied bids, click on the Modify button
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Then the User has to type in the transaction password for confirmation.
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WITHDRAW IPO
Login to SIBERNET Retail IPOWithdraw IPO/Modify IPO
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Select the corresponding IPO name and click on Withdraw button
Then the user has to type in the transaction password for confirmation
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Receipt:
Login to SIBERNET Retail  ASBA Receipt
The receipt shows the status of the bids at NSE e-IPO along with the General Details.
The NSE TRANSACTION NO, NSE TRANSACTION DATE AND NSE TRANSACTION
STATUS in the receipt shows the details of the action performed on the BIDS.
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