How can I apply for Rights Issue via ASBA?
To apply for a rights issue via ASBA (Application Supported by Blocked Amount), you must submit an application form either:
- Online through net banking. Most large banks including Axis Bank, HDFC Bank, SBI, Kotak Mahindra Bank, etc., have enabled applications via net banking. The process is similar to an IPO application.
- Offline by submitting the form at a bank branch.
The online application process through ICICI Bank is given below for your reference:
Step 1. Log in to your net banking website or mobile app.
Step 2. Go to the IPO/FPO/Buyback section- available rights issues will be shown
Step 3. Select the desired issue and the quantity you wish to buy
Step 4. Accept the applicable Terms & Conditions > Submit
This gives the bank the authorisation to block the application amount in your bank account. Ensure you have sufficient balances in your account. The amount will be debited based on final allotment of the issue.