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Writing an application

Subscription Open from 8th to 12th of September 2023

IPO Application Process



Subscription Dates: September 8, 2023 to September 12, 2023

Listing Date: September 21, 2023

Face Value: Rs. 10/- per share

Price: Rs. 126/- to Rs. 132 per share

Lot Size: 1,000 shares

Total Issue Size: 42,84,000 shares (aggregating to Rs. 56.55 cr.)

Fresh Issue: 42,84,000 shares

Listing At: NSE Emerge


To download the Bid cum Application Form, Click On
ASBA e-Forms (


The Application Supported by Blocked Amount (ASBA) is a process for subscribing to an Initial Public Offering (IPO) in India. It allows investors to apply for shares while keeping the bid amount blocked in their bank account until allotment. Here's a step-by-step guide to fill out ASBA e-forms for bidding in an IPO.


To download the Bid cum Application Form, Click On
ASBA e-Forms (


After downloading and filling out a blank IPO application form from the NSE (National Stock Exchange) website, you will need to follow a specific process to submit your application for the IPO shares. Here are the steps to complete the IPO application.

  1. Eligibility Check: Ensure you have a DEMAT Account and a Bank Account with a bank that supports ASBA services.

  2. Collect IPO Details: Obtain the IPO prospectus or download it from the company's website. This document contains crucial information like the IPO opening and closing dates, price band, lot size, and other details.

  3. Choose Your Bank: Confirm that your bank offers ASBA services for IPO applications. Most major banks in India provide this service.

  4. Fill ASBA e-Form: Go to your bank's website and locate the ASBA application form for IPOs. Fill in the required details, including your personal information, bank account details, and DEMAT account details. You'll also need to specify the number of shares you want to apply for.

  5. Select Bid Details: Indicate the price at which you want to bid for the IPO shares. You can choose either the cut-off price (the final allotment price determined by the company) or specify a bid price within the price band.

  6. Signature and Authentication: Digitally sign the ASBA e-form by utilizing your internet banking credentials. This will involve Aadhaar verification through a one-time password (OTP) sent to your registered mobile number, or you may use any other authentication method specified by your bank.

  7. Blocking of Funds: Once you submit the ASBA e-form, the bid amount will be blocked in your bank account but will not be debited until the IPO allotment is finalized.

  8. Submission: Submit the completed ASBA e-form to your bank. You will receive an acknowledgment of your bid.

  9. Allotment: After the IPO closes, the company and stock exchanges determine the allotment of shares. If your bid is successful, shares are credited to your DEMAT account, and the bid amount is debited. If unsuccessful, the blocked funds are released.

  10. Refund: In case of an unsuccessful bid, the blocked amount is automatically unblocked and made available in your bank account.

  1. Review the IPO Prospectus: Ensure you have thoroughly reviewed the IPO prospectus.

  2. Complete the Application Form: Fill in the application form accurately with the required details. This typically includes your personal information, DEMAT account details, and bank account information.

  3. Select Your Bid Details: Indicate the number of shares you want to apply for and the price at which you are willing to bid. You can choose either the cut-off price (the final allotment price determined by the company) or specify a bid price within the price band.

  4. Payment Method: Decide on the payment method for your bid amount. You can choose between the following options:

    1. Cheque or Demand Draft (DD): Attach a cheque or DD for the bid amount along with the application form. Ensure that the cheque/DD is drawn in favor of the IPO's designated bank account and includes the applicant's name and application number on the reverse side.

    2. Online Payment: If the IPO allows online payment through ASBA (Application Supported by Blocked Amount), you can submit your application online and authorize your bank to block the bid amount in your account until allotment. This is a more convenient and secure option. (as
      stated in the section above)


  5. Signature: Provide your signature in the specified area.

  6. Review and Checklist: Before submitting your application, review all the details provided in the form, ensure all necessary documents are attached (like the cheque or DD), and cross-check against a checklist if provided in the prospectus.

  7. Submission: Submit the completed application form, along with any required documents and payment, to any designated collection centers or branches of the Self Certified Syndicate Banks (SCSBs) mentioned in the prospectus.

  8. Acknowledgment and Receipt: Upon submission, you will receive an acknowledgment or a receipt from the bank or collection center. Keep this receipt safely as it serves as proof of your application.

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