How to apply for Mahuli Samudayik Laghubitta IPO using ASBA (Step-by-Step Process)
- ShareSansar, April 20, 2017 on Exclusive , Featured , IPO News , Latest , Stock Market
51 commercial and development banks have been approved by SEBON to accept applications for public issues (IPO/FPO) through ASBA (Applications Supported by Blocked Amount) process. Investors interested in applying in the IPO of Mahuli Samudayik Laghubitta Bittiya Sanstha Limited can provide application using the ASBA form from 2,122 branches of these ASBA-approved banks from 73 districts around Nepal.
Here is a step-by-step process to apply for the Mahuli Samudayik Laghubitta IPO using the ASBA system:
The application forms can be collected from any branch of the ASBA-approved bank. A sample filled-up form for ASBA application process for account holders of NMB Bank has been shown below:
The ASBA form needs to be filled up with the applicants details, their bank account number maintained in the respective bank, their demat account number, and the details of how many shares they wish to apply for.
This form is to be submitted to the ASBA-approved branch of the bank. The bank then withholds the applied money in the applicant’s bank account, and provides the slip (ardhakatti) on the bottom from the ASBA form.
Applicants do not need to fill up another application form, or visit other collection centers to complete the application process. The same ASBA form acts as the application for the IPO.
The bank will charge a maximum of Rs 100 per application form for application amount under Rs 50,000; and a maximum of Rs 250 per application form for above Rs 50,000. The ASBA charge varies with the bank.
Advantages of ASBA Process:
- No need to carry cash or cheque
- Interest of the blocked amount will still be accrued in the same bank account of the applicant
- Only the allotted amount will be debited from the bank account after allotment
- No need to stay in line for hours to submit application or collect refund
Disadvantages of ASBA Process:
- Applicants need to pay a charge of Rs 100 – Rs 250 per application form to their bank
ASBA system has not been made compulsory yet. The benefit of ASBA system cannot be realized until every application goes through the ASBA process. However, applicants will be able to save a lot of time during the application process.
If the applicants are applying through ASBA process, Don’t Forget to take ASBA number from Bank for IPO Result
List of ASBA-approved banks:
Collection centers details: