Can an investor apply at the Lower Price Band using the ASBA payment method?

The ASBA application allows investors to specify a fixed price (the bid price). 

1. The investor applies at the Lower Price Band – The amount blocked in their account will correspond to that lower price.
2. Retail investors bid at the Upper Price Band (often referred to as the “Cut-Off Price”) – This maximize their chances of allotment, as the final issue price is usually determined at the higher end of the band.