When will the Bank lock money in my Account for ASBA payments

When will the Bank lock money in my Account for ASBA payments

The Bank will need the money in your account at the time of placing the bid for IPO shares through the ASBA payment option. SEBI has clearly instructed Banks not to accept IPO applications before blocking the bidding amount (for ASBA process). The amount will remain locked until the registrar / stock exchange requests the Bank to release the funds, either if shares are not allotted to you, your IPO application is rejected or you withdraw your IPO application.

When will the Bank lock money in my Account for ASBA payments

The Bank will need the money in your account at the time of placing the bid for IPO shares through the ASBA payment option. SEBI has clearly instructed Banks not to accept IPO applications before blocking the bidding amount (for ASBA process). The amount will remain locked until the registrar / stock exchange requests the Bank to release the funds, either if shares are not allotted to you, your IPO application is rejected or you withdraw your IPO application.