Tuesday, September 9, 2008

IPO investors having account with ICICIDirect can use new ASBA payment option

Good news for investors using ICICIDirect.com to invest in IPO's. Now they have ASBA 'Applications Supported by Blocked Accounts' payment option available online.

20 Microns Limited is the first IPO offering by ICICI Direct with ASBA payment option. Issue is currently open and subscribed 0.21 times (0.1133 in Retail) on its 1st day.

To choose ASBA payment option in ICICIDirect.com, please follow below steps:

1. Logon to ICICIDirect.com.
2. Under 'Trading' go to 'IPO'.
3. In '20 MICRONS LIMITED' IPO row, click on action 'Go' button.
4. Make sure that ASBA check box is checked.
5. Submit the bid.

That's it. It's so easy and no need to worry about refunds cheques or direct deposits.

ASBA 'Applications Supported by Blocked Accounts' is a newly introduced IPO payment option in which the time of bidding, your account is blocked to the extent of the bid amount and debited only at the time of allotment.

For more detail about ASBA payment option, visit our ASBA FAQs.