Nearly 1.5 lakh retail investors applied via ASBA (Application Supported by Blocked Amount) in NHPC IPO, reports CNBC-TV18 quoting sources. NHPC IPO received over 13 lakh retail applications and ASBA accounted for 11.7% of total retail application. Nearly 1.27 lakh ASBA came via ICICI Bank’s online platform.
ASBA, or Application Supported by Blocked Amount, enables investors to apply for IPOs and rights issue without making a payment. Instead, the amount is blocked in their own account and only an amount proportionate to the shares allotted goes out.
Source: Moneycontrol.com
Thursday, August 13, 2009
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