ASBA for IPOs

Eligibility Criteria for Applying to IPOs:

To apply for an IPO through Jana Small Finance Bank, the following criteria must be met:

1. Investor Category (as per NSE classification):

2. You must have a Savings or Current Account with Jana Small Finance Bank.
3. You must maintain sufficient account balance for IPO bid amount.
4. You must have a valid PAN and a Demat Account with any Depository Participant (DP).
   1. Don’t have one yet? Open a 3-in-1 Account today.
5. You must comply with all applicable SEBI guidelines.

How to Apply for an IPO

You can apply for an IPO through Jana Small Finance Bank using either of the following methods:

Option 1: Internet Banking or Mobile Banking

• Log in to your Jana Internet Banking or Mobile Banking App.
• Navigate to the IPO section.
• Add your demat account if investing for the first time.
• Select the IPO you wish to apply for and enter bid details.
• Confirm the application. The amount will be blocked in your account and not debited unless shares are allotted.
• You’ll continue to earn interest on the blocked amount.
• Amount will be automatically unblocked or transferred to the Registrar and Transfer Agency (RTA), as per the instructions received from them.
• Investor making application using any UPI channel, shall use only his / her own bank account or only his / her own bank account linked UPI ID to make an application in public issues.
• Applications made using third party bank account or using third party linked bank account UPI ID are liable for rejection.

Apply via Internet Banking

View our guides: Internet Banking | Mobile Banking

Option 2: UPI via Broking Apps

• Log in to the broking app of your choice
• Add UPI ID linked to your Jana Bank account and make it your primary bank.
• Place your IPO bid and approve the UPI mandate through your UPI app.
• The funds will be blocked, and only debited if allotment is successful.
• Hold will be removed as per instructions received from National Payments Corporation of India (NPCI).

Note: UPI-based IPO applications have a limit of ₹5 lakh per application. Jana should be your primary bank in the broking app. If required, please change it by accessing: Profile>Bank Accounts in the broking app of your choice.

IPO Process: Key Timelines to Know

Here’s a step-by-step view of what happens after you apply for an IPO:

T Day = Business / Transaction Day

Timelines may vary based on intermediary processing.

TERMS AND CONDITIONS

Terms & Conditions (hereinafter referred to as “Terms”) for making Application through Jana Small Finance Bank Limited (hereinafter referred to as the “Bank” or “JSFB”), Internet Banking in Book Building Public Issues under ASBA.

1.IMPORTANT INFORMATION ON ASBA:

1. Background: In its continuing effort to make the existing public issue process more efficient, SEBI has introduced a supplementary process of applying in public issues, viz: the "Applications Supported by Blocked Amount (ASBA)" process. Accordingly, SEBI (DIP) Guidelines 2000 has been amended for the ASBA process.
2. Meaning of ASBA: ASBA is an application for subscribing to a public issue, containing an authorization to block the application money in a bank account.
3. Self-Certified Syndicate Bank (SCSB): SCSB is a bank that offers the facility of applying through the ASBA process. The list of SCSBs is displayed by SEBI on its website at www.sebi.gov.in from time to time. ASBAs can be accepted only by SCSBs, whose names appear in the list of SCSBs displayed on SEBI's website and are recognized as SCSBs. Retail individual investors maintaining their account in any of these banks may use the ASBA facility subject to fulfilling all the Terms stipulated in this regard. These Banks are deemed to have entered into an agreement with the issuer and shall be required to offer the ASBA facility to all its account holders for all issues to which the ASBA process is applicable.
4. Eligibility of Investors: An investor shall be eligible to apply under the following categories:
   • Bodies Corporate CO
   • NOH - others (All entities other than QIBs, Bodies Corporate, and Individuals)
   • INDs (Individuals applying up to Rs 1 lakh) as well as individuals/HUFs, Trusts, etc. applying for more than Rs 1 lakh IND
   • Employees EMP
   • Shareholders SHA
   Such investors are hereinafter referred to as “ASBA investors”.
5. ASBA Process in brief:
   An ASBA investor shall submit an ASBA physically or electronically through the internet banking facility to the SCSB with whom the bank account to be blocked is maintained. The SCSB shall then block the application money in the bank account specified in the ASBA, on the basis of an authorization to this effect given by the account holder in the ASBA. The application money shall remain blocked in the bank account until the finalization of the basis of allotment in the issue or until withdrawal/failure of the issue or until withdrawal/rejection of the application, as the case may be. The application data shall thereafter be uploaded by the SCSB in the electronic bidding system through a web-enabled interface provided by the Stock Exchanges. Once the basis of allotment is finalized, the Registrar to the issue shall send an appropriate request to the SCSB for unblocking the relevant earmarked funds in the bank accounts and for transferring the requisite amount to the issuer’s account. In case of withdrawal/failure of the issue, the amount shall be unblocked by the SCSB on receipt of information from the pre-issue merchant bankers.
6. Obligations of the issuer:
   The issuer shall ensure that adequate arrangements are made by the Registrar to obtain information about all ASBAs and to treat these applications similar to non-ASBA applications while finalizing the basis of allotment, as per the procedure specified in the Guidelines.
7. Applicability of ASBA process:
   The ASBA process shall be applicable to all book-built public issues that provide for more than one payment option to the retail individual investors.
8. Withdrawal of application form:
   In case an ASBA investor wants to withdraw his/her ASBA during the bidding period, he/she shall submit his/her withdrawal request to the SCSB, which shall do the necessary, including deletion. In case an ASBA investor wants to withdraw his/her ASBA after the bid closing date, he/she shall submit the withdrawal request to the Registrar to the issue. The Registrar shall delete the withdrawn bid from the bid file.
9. Bid Revision:
   An ASBA investor can also revise their bid during the issue period.
10. Other Information for ASBA Investors:
    
    • SCSB shall not accept any ASBA after the closing time of acceptance of bids on the last day of the bidding period. ASBA investors will receive an acknowledgment for the receipt of ASBAs.
    • SCSB shall not upload any ASBA in the electronic bidding system of the stock exchange(s) unless –
      1. It has received the ASBA in a physical or electronic form.
      2. It has blocked the application money in the bank account specified in the ASBA or has systems to ensure that electronic ASBAs are accepted in the system only after blocking of application money in the relevant bank account opened with it. SCSB shall ensure that the details of a particular ASBA are uploaded only once in the electronic bidding system of any one of the Stock Exchange(s). SCSB shall be solely responsible for the completion and accuracy of all details entered/uploaded on the electronic bidding system of the Stock Exchange(s). In case of withdrawal/revision of bids by ASBA investors during the bidding period, SCSB shall ensure the deletion of the withdrawn ASBA from the electronic bidding system of the Stock Exchange(s) and unblocking of funds only in case of a whole application form withdrawal in the relevant bank account within the timelines specified in the ASBA process. SCSB shall ensure that information about the revision in the bidding period or price band, as and when received, is communicated and reflected in its systems promptly for the information of ASBA investors.
      3. SCSB shall ensure that complaints of ASBA investors arising out of errors or delays in capturing data, blocking, or unblocking of bank accounts, etc., are satisfactorily redressed.
      4. Registrar to the issue shall act as a nodal agency for redressing complaints of ASBA and non-ASBA investors, including providing guidance to ASBA investors regarding approaching the SCSB concerned.
      5. The Stock Exchange(s) shall ensure that an issue-specific code is generated from the electronic bidding system, so that SCSBs do not face any problems in segregating the ASBA issue-wise.
      6. In case of withdrawal of ASBA during the bidding period, the Stock Exchange(s) shall provide the facility for enabling SCSBs to delete the ASBA from the electronic bidding system or mark the withdrawal individually against the original bid uploaded, or upload the withdrawal of the ASBA in batch mode in the electronic bidding system.
      7. Subject to valid bids being received at or above the issue size, under-subscription, if any, in any category would be allowed to be met with spill over inter-se from any of the other categories, at the sole discretion of the company, and subject to applicable provisions of the SEBI Guidelines.