IPO Basics

What is the ASBA payment method for IPO?

ASBA stands for "Applications Supported by Blocked Accounts". At the time of bidding, investors’ account is blocked to the extent of the bid amount and debited only at the time of allotment. This facility is being offered by ICICIDirect in affiliation with ICICI Bank Limited for 3-in-1 accounts i.e. customers who have ICICI Bank account linked to their Trading accounts
For 2-in-1 accounts where the customers have other bank account linked to their trading accounts, customers can use the UPI option for applying in IPOs