Application

What is ASBA?

Unlike traditional methods, where funds are deducted immediately upon application, ASBA allows investors to apply for securities without transferring funds upfront. Instead, the application amount is blocked in the investor's bank account, ensuring the funds remain available until allotment.

This process minimises the risk of refunds and ensures greater transparency in the allocation of securities. Investors continue to earn interest on the blocked amount until it is debited upon successful allotment. ASBA is mandatory for IPO applications and is widely used for public issues, rights issues, and other market offerings.

Benefits of IPO Application through ASBA

  • Utilise HDFC Bank’s Wealth Management Services to strategically structure your financial portfolio according to your risk tolerance and future objectives.
  • Engage HDFC Bank’s Tax Planning Service to manage your tax payments efficiently and gain clarity on your tax responsibilities.
  • Partner with HDFC Bank for expert guidance on Mutual Fund investments, helping you make informed decisions to nurture and expand your investments.

IPO Application through ASBA

Apply Online

  • Step 1: HDFC Bank NetBanking users can now conveniently apply online. Log in to your NetBanking account and select the "IPO Application" option in the bottom left menu. You will then be redirected to our dedicated IPO Online System.
  • Step 2: The IPO Application is exclusively available for resident individuals. Applications cannot be submitted on behalf of Corporates, HUFs, Trusts, Minors, etc.
  • Step 3: Ensure that the sequence of applicant names matches precisely the sequence in your Depository Account records.
  • Step 4: By default, the NetBanking user will correspond to the first applicant listed.
  • Step 5: A hold will be placed on the total amount at the highest bid price entered by the applicant.
  • Step 6: The application funds will remain blocked until the final allotment is confirmed.
  • Step 7: Post allotment of shares; your account will be debited accordingly.
  • Step 8: Accuracy of Information and Bid Rejection: Ensuring that all provided information is accurate is critical. Incorrect details may result in rejection of the bid, for which neither the Company nor the Bank will be liable for any losses.
  • Step 9: Double-check that the name on your PAN Card is consistent with the name registered in your Demat Account.

Apply through Physical Application

  • Step 1: You can visit any HDFC Bank branch to apply for an IPO using ASBA. It's not necessary to have an account at the same branch; your account can be held at any HDFC Bank branch.
  • Step 2: Download and print the ASBA bid-cum application form from the websites of Stock Exchanges offering electronic ASBA facilities, such as the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). 
  • Click here to download the form through NSE.
  • Step 3: Fill out the ASBA application form for the IPO with details, including your HDFC Bank account number, PAN, and Demat account particulars. Submit the completed form to your nearest HDFC Bank branch.
  • Step 4: HDFC Bank will block the specified amount in your HDFC Bank account for the IPO applied and forward the application details to the designated stock exchange.
  • Step 5: Ensure sufficient funds equivalent to the IPO application amount are maintained in your account. Provide correct and accurate details in the ASBA application form for the IPO.
  • Step 6: If there are insufficient funds in your bank account or any discrepancies in the application form, the bank will reject the IPO application and cannot submit the bid to the stock exchange.
  • Step 7: For any inquiries, refer to the application/reference number on the acknowledgement slip given at the time of application.

You can also benefit from

  • Utilise HDFC Bank’s Wealth Management Services to strategically structure your financial portfolio according to your risk tolerance and future objectives.
  • Engage HDFC Bank’s Tax Planning Service to manage your tax payments efficiently and gain clarity on your tax responsibilities.
  • Partner with HDFC Bank for expert guidance on Mutual Fund investments, helping you make informed decisions to nurture and expand your investments.

Frequently Asked Questions

Yes, HDFC Bank NetBanking customers can apply for IPOs online through ASBA. After logging in, select “IPO Application” from the menu. Choose an IPO, enter up to 3 bids, provide depository details, and confirm your order. Accept the “Terms & Conditions” to submit.

No, applying through ASBA at HDFC Bank is free. The ASBA interface ensures that funds leave your bank account only when allotted shares in public issues. You continue to earn interest on your Savings Account.

To apply for an IPO through ASBA online application, you need your HDFC Bank account number, PAN, and Demat Account details. You must fill these in the ASBA IPO application form and submit it to the branch. Ensure sufficient funds are in the account.

*The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.