Bank of Baroda introduces yet another customer friendly new functionality for the benefit of the internet banking users having transaction rights – ASBA.
Under this functionality, any internet banking user can make application for IPOs/FPOs/ Right Issues subscription for any company. The functionality is user friendly, safe, simple and available 24x7.
Advantages to customers:
1. No need to procure blank application forms from Broker and submit the same to them.
2. Earn Interest on balances in your Saving bank account.
3. Facility available 24 x 7 and upto 3.00 P.M on the issue closure date.
4. This facility is free of cost to the users.
5. Easy to operate and saving of time and energy.
6. Elimination of cumbersome procedure for applying for IPO by making payment in advance and waiting for refund if shares are allotted.
For using the ASBA functionality through internet, user should
1. Maintain a CBS account with any branch of Bank of Baroda.
2. Be a Baroda Connect user having transaction rights.
3. Demat A/c with any Depository Participant.
Links available in ASBA:
1. Investor Registration
2. Subscribe an IPO
3. Modify Bid IPO
4. Unsubscribe Bid IPO
5. View Subscribed IPO
1. Investor Registration Option
2. Subscribe an IPO:
- User to register Investor details for NSDL/CDSL one time such as Investor name,
Depository Type, DP Id, Client Id, PAN No. (This is a one time registration and for all
future subscription to IPO, the details will be displayed)
One account can be blocked for maximum five investors/applications.
3. Modify a Bid:
- Subscribe for an open IPO through link available.
- User to click on the IPO hyperlink and select Investor name, account no.
and investment category from dropdown.
- Details of the IPO selected is displayed.
- User to input bid quantity, price per share. User can provide 3 bids and Click on Calculate Bid amount, the highest Bid amount of the 3 bids will be displayed accordingly for which the lien will be marked in the selected account.
User to ensure that bid is in marketable lot and the bid amount is within minimum and maximum Bid amount.
- Details as per investor registration is displayed. Click on submit button.
- All IPO subscription for Individual category greater than Rs.200000, message will be displayed as IND – HNI.
- All IPO subscription for Individual category less than or equal to Rs.200000, message will be displayed as IND – Retail.
- Acknowledgement receipt is displayed and is printable.
4. Unsubscribe Bid IPO:
- In case user desires to have the IPO modified, the same can be done through
- Modification of bid is allowed only for Open IPO.
- Once the Bid is closed, user will not be able to modify the bid.
- User can modify the quantity and price within the same category. The bid amount is
recalculated and the lien will be marked accordingly in the selected account for the
modified bid amount.
5. View Subscribed IPO:
- In case user wants to withdraw the Bid, this option is to be invoked when the particular
Bid is Open. Once the Bid is closed, user will not be able to withdraw the bid.
- By clicking on the link, the details are displayed and user to authenticate
for withdrawal. Accordingly, the lien will be revoked.
- User can also view all the subscribed IPO made through internet banking anytime
for any date range.
-  For all successful submission, Lien is noted on the given account till allotment / non-allotment of the IPO.
-  Amount debited for allotment made and remitted to the concerned company.
-  In case of non-allotment, the lien will be released.
LIEN NOTING OF THE BLOCKED AMOUNT CAN BE VIEWED BY CLICKING ON ACCOUNTS MENU AND LIEN INQUIRY ON THE SIDE MENU AGAINST THE RESPECTIVE ACCOUNT.
In case of any clarifications, kindly contact
BANK OF BARODA,
Mumbai Main office,
Mumbai Samachar Marg,
Tel No:- 022-40468314, 40468316