CUB is happy to offer ASBA facility to its customers. ASBA is a facility to apply IPO without parting funds from your account so that you can earn interest in your account till allotment of the issue applied for.

To apply for  Initial Public Offers (IPOs) of joint stock companies , investors  submit their application along with the payment by way of cheque/draft .  Now SEBI has introduced a   new procedure by which investors  can apply in a special form called  “ ASBA ” i.e., Application Supported by Blocked Amount. The banks approved by SEBI will receive these special application forms from the investors and hold the funds they intend to invest from their operative accounts till the investor is allotted/refunded the amount. If the shares are  allotted the banks will transfer the funds to the joint stock company which has floated the IPO and the customer receives the share certificate in DEMAT form  directly from the company. If it is refunded, Banks will unhold the funds  and make it available to the customers for further operations. All kinds of investors like individuals, HUFs, eligible institutions can apply to IPO through ASBA and they should have a DEMAT account .

Your Bank has  got the approval from SEBI/NSE to accept ASBA forms from our customers. The customers desirous of applying through ASBA will have to present the ASBA applications to the following identified branches.