What are the eligibility criteria of ASBA?

What are the eligibility criteria of ASBA?

To qualify for the ASBA (Applications Supported by Blocked Amount) process, you must meet the following requirements:

  1. Indian Residency: You must be an Indian residential investor.
  2. PAN Card: A valid PAN card is mandatory.
  3. Demat Account: You should have an active Demat account.
  4. Sufficient Bank Balance: Ensure adequate funds in your bank account to cover the application amount.
  5. Bank Account with SCSB: You must hold a bank account with a Self-Certified Syndicate Bank (SCSB).
  6. No Reserved Categories: You should not apply under any reserved categories.
  7. Agreement to Terms: You must agree to the terms and conditions, including not altering your bid.
  8. Cut-Off Bidding: You can only bid at the cut-off, meaning you choose a single option for the number of shares to bid.