Who are SCSBs(Self certified syndicate banks)and How do I find out if my bank allows me to apply for an IPO through the ASBA payment method?

Banks that are certified by SEBI allow retail investors to apply for IPO's using ASBA payment methods. They are called 'Self Certified Syndicate Banks' (SCSBs).

SCSB has the ability to block the IPO Application amount till IPO allotments have been made. SCSB guarantees the Issuer Company the money is not being used for other purposes.

Online bidding can be done through the internet banking website or in person at the branch. ASBA is not open to all branches. Check with your branch to find out if they have ASBA facilities to submit IPO applications.

SCSB receives an investor's IPO Application and electronically sends the bidding information.

After allotment, the Issue Company or the registrar for the IPO withdraw the money from the bank account. Investors can then unlock the remainder amount.

On SEBI, NSE, and BSE sites you can find a list of self-certified syndicate banks under the ASBA facility.

Lists of Self-Certified Syndicate Banks at SEBI

List Of Self-Certified Syndicate Banks on NSE

List Of Self-Certified Syndicate Banks on BSE

The complete list of ASBA IPO Payment Options approved by SEBI is available on the websites BSE (www.bseindia.com), NSE (www.nseindia.com), and SEBI's website (www.sebi.gov.in).