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Note : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.
SBP has brought a new hassle free solution for investment in IPO called e-Invest. Under the instructions of SEBI, Bank has introduces this supplementary process for applying in public issues. ASBA facility can be used for Initial and Follow-on Public Offers(IPO and FPO), Right Issues, and Debt Issues. Under ASBA, funds will continue to earn interest during the application processing period, if held in an interest bearing account. Bank will mark a lien on the deposit account of the investor to the extent of the application money. The Lien will be removed immediately after finalization of the basis of allotment. If bid is successful, the Deposit account will be debited and the alloted shares will be transferred to the applicant's Demat account.
An Investor can apply through ASBA, provided he/she:
  • is from any of the approved category eligible to apply in IPO as per SEBI guidelines.
  • maintain a Savings Bank or Current Account with SBP.
  • has Demat account with any of the DPs along with Permanent Account Number (PAN).
  • has sufficient clear credit balance in his/her Savings Bank or Current account for application money. ASBA facility is not available on any type of overdraft or loan accounts.

Important Points


  • A Retial Individual Investor (Individual, HUF, Trust, Employee or shareholder who applies upto Rs.200,000/-) can also modify, revise or delete the bid within the bidding period.
  • Investors from all other category cannot withdraw / delete the application and can modify / revise the bid only for a higher amount.
  • Multiple application by a single investor are not allowed, however an investor can make 5 applications from a single deposit account in the name of different persons.


  • Multiple application by single investor are allowed.
  • An investor can withdraw the application during the bidding period but cannot modify the application.
  • An investor can make 5 applications from a single deposit account in the name of different persons.

Online ASBA facility

  • User can apply electronically without the need of any physical application form. Internet Banking users should log on to and go to e-services > IPO (Equity) ASBA or IPO (debt) ASBA option. It is not necessary to have a Demat account with SBP for applying through ASBA. Customer having Demat account with other entities can also apply through the SBP-ASBA facility.
  • All SBP customers, irrespective of the branch where they maintain account, can apply through Internet Banking. Any SBP customer, who has a Savings or Current Account, can register for Internet Banking facility and apply for ASBA.

Personal Banking, Chandigarh is the Nodal Branch for ASBA.

Contact Details :

State Bank of Patiala
Personal Banking Branch
SCO 99-102, Sector-8C
Chandigarh - 160018
Telephone - 0172 - 2779116, 2546124
Fax : 0172-2546080
Most Important Terms & Conditions
1. An investor should be from the approved category as per SEBI guidelines.
2. An investor should maintain a Savings Bank or Current Account with SBP.
3. An investor should have Demat account with any of the DP.
4. An investor should have Permanent Account Number (PAN).
5. An investor should have sufficient clear balance in the Savings Bank or Current account for application money.