What are the basic requirements for applying to an IPO using the ASBA process?

To successfully apply for an IPO using the ASBA, an investor needs a few essential things:

• Bank Account with an SCSB: The investor must hold a bank account with a Self Certified Syndicate Bank (SCSB) that offers the ASBA facility.
• Demat Account: A valid Demat account is mandatory. Allotted Shares are credited in a dematerialized form to this account. The 16-digit Demat account number (Depository Participant ID + Client ID) must be provided in the application.
• Permanent Account Number (PAN): A valid PAN is required for all applications.
• Sufficient Funds: The bank account must have sufficient clear funds to cover the application amount (bid value).
• Investors can only apply at the cut-off price and cannot revise bids after submission.