What is ASBA?
ASBA or Application Supported by Blocked Amount, is a share application process whereby a demat account holder can apply for newly issued shares within the application interval by requesting his/her/its bank to block the application amount until the shares are allotted. The bank needs to be registered member of ASBA from CDS & Clearing Ltd.
If shares are allotted to him/her/it, the bank automatically transfers the allotted amount to the issue manager and releases the remaining amount. If shares aren’t allotted to the applicant, the total application amount is released by the bank. If the shares are allotted, then the applicant receives the allotted shares in his/her/it’s demat account (as indicated in the ASBA form) once the shares are listed.
What is C-ASBA?
C-ASBA is an online ASBA service provided by CDS & Clearing LTD to demat account holder who have taken “Meroshare” online service through their respective Depository Participants.
C-ASBA is easier and faster way of applying for newly issued shares (IPO/FPO/Mutual Fund). But, please be informed that a demat account holder having taken “Meroshare” online service can apply through C-ASBA only if the bank where it has a bank account is a member of C-ASBA. Please visit the website of CDS & Clearing Limited (www.cdsc.com.np) to check if your bank is a member of C-ASBA or not?
Procedure to Register for C-ASBA:
First, confirm if your bank is a member of C-ASBA. Also, you should have taken “Meroshare” online service through your Depository Participant (DP).
C-ASBA Member Bank till (22nd March 2018)
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|DEMAT Account Close Form - Company||Download|
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