|ASBA has an interesting ring to it. You hear the word the first time and wonder what exactly it stands for. But say it out loud to a banker or a broker, and you are sure to get some sharp reactions. The Application Supported by Blocked Amount (ASBA), most would agree, is a wonderful process in theory. Yet, not ...
"Almost 100 per cent of the customers who come to us for IPOs opt for the ASBA process," says Anup Bagchi, executive director, ICICI Securities Limited. He adds that the reach of the process is limited, though. "As of now, we are among a handful where customers have an easy way of availing of this benefit. Hence, while there is a gain in market share for us, there is no increased retail participation in the overall market."