ASBA Facility for Secondary Market Trading
Recently, the Securities and Exchange Board of India (SEBI) approved a framework for Application Supported by Blocked Amount (ASBA) like facility being made available to investors for secondary market trading.
- •At present, ASBA is available for the primary market, wherein the initial public offering (IPO) funds only are blocked on application, and are debited only on the allotment.
About ASBA
- ASBA provides an alternative mode of payment in issues whereby the application money remains in the investor's account till finalization of basis of allotment in the issue.
- It is an application by an investor that contains an authorisation to a Self Certified ....
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