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Syndicate Bank introduced a new hassle free solution for investment in Public Issues and Rights Issue called Application Supported by Blocked Amount (Synd ASBA) as per the SEBI guidelines. Unlike the current system of applying in IPOs using cheques, where your funds are blocked unproductively as application money till the finalisation of the allotment/bid. Under ASBA your funds will continue to earn interest during the application processing period as application money remains blocked in account till allotment. Account will be debited only successful allotment. This facility is also available for rights issue and new fund offers (NFO) of mutual funds.
An investor can apply through ASBA, provided he/she
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belongs to the approved category and eligible to apply in IPO/FPO as per SEBI guidelines.
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is having a CASA account with SyndicateBank (SB/CA/OD accts).
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is having a Demat account with any DP and holds a Permanent Account Number (PAN).
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is having sufficient clear balance in account for application money.
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An application can have upto three bid options.
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An investor can modify, revise or delete the bid during the bidding period.
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An investor can make 5 applications (with different names) from a single deposit account.
ASBA facility is available at designated branches, click here to view list of branches
ASBA IPO application forms are different from general IPO application forms and are available at designated branches or can also be downloaded from the following websites.
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For further details, please contact :
Nodal Officer :
Mr. Chandrasekhar D Moro
Senior Manager (IT)
Capital Market Services Branch
26/A, Sir P.M.Road, Fort
Mumbai- 400 001
Ph: 022-2270 4013 / 22704011 Fax : 022-22700997
dpcmsc@syndicatebank.co.in, cmsc@syndicatebank.co.in, cdmoro@syndicatebank.co.in
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