The ASBA product simplifies the public issue process. It allows the end users to apply for IPOs, rights issues, FPOs etc. In ASBA, the designated bank account is blocked for the application money amount. On the date of allotment the account is actually debited to the extent of allotted shares and the remaining amount is released. The KCS ASBA product is targeted at the Self Certified Syndicate Banks (SCSB). The advantages of the ASBA process are:
Authorisation is given by the account holder to block the application money
SCSB uploads data in the electronic bidding system via a web enabled interface provided by the Stock Exchange
Once allotment is finalized, the Registrar to the Issue requests the SCSB to unblock the relevant bank accounts and transfer money to issuer account
10/93, Sidarth Nagar V, Goregaon (West), Mumbai - 400104
Kalpataru Computer Services primarily focuses on providing software and solutions to the finance and banking sector.
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