Application Supported by Blocked Amount (ASBA) is a system of withholding an amount equal to the value of the publicly issued securities applied by the investor from his/her account until securities allocation.
In order to make the ASBA system more organized, Centralized – Account Supported by Blocked Amount (C-ASBA) system came into implementation since Falgun 11, 2074 as per the requirement of SEBON to apply for any issue (IPO/FPO/Rights/Mutual funds).
C-ASBA links all the banks and financial institutions providing ASBA related service and the DMAT accounts and creates a central system that allows issue managers and share registrars to verify the details of the applicants in the issuance of securities.
Siddhartha Bank Limited has started C- ASBA service for our customers from all of our branches for the convenience to invest in IPO and FPO of various companies. You can avail this facility by visiting any SBL branches near you and simply filling the C-ASBA form.