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As most of the things are going digital these days, filling share form for IPO has also become digital. Now you don’t need to queue in line for hours to invest in shares using your hard earned money. As known, people earned a lot of money with the share investment but they need to devote a lot of precious time and money for filling the share form. Now that CDS and clearing have launched C-ASBA (Centralized Application for ASBA based issuance) system, it is easier to apply share online from your home. C-ASBA has also become mandatory to implement for all IPO (initial public offering), FPO, Rights/bonus share application. Apart from applying, you can also check/view the IPO result in your Mero share accounts.
First, let us be clear about what C-ASBA is. It is just a centralized system similar to ASBA (Applications Supported by Blocked Amount) in which the amount applied will be blocked in the investor’s bank account until share allotment or result is published. With ASBA, you needed to visit the banks and apply there. But C-ASBA now lets you apply share online that is from anywhere using the internet. You also need to have “Mero share” account from where you created C-ASBA.
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Here is the complete procedure to fill up the share form online and pay for it online from your bank account.
Only if you go through the above steps to apply share online, you don’t have to queue in line for several hours. Mostly we have seen employees of several organizations including government and private, being busy filling those forms. It is not only easy for them to invest but it will keep them to focus on their own work at the office, instead of being in a queue for several hours. This is going to save thousands of hours which can be productive for people and nation.
Update: For the application to IPO shares like Bhotekoshi Hydro for the Employee provident fund account holders, you cannot do it online. Please visit the respective bank where you have the DMAT account and fill the form along with your EPF card and employee ID card copy, for the application.
With this procedure, it is known that the share allotment or results can also be published very soon. The share allotment has been done quite fast with the Arambha Microfinance. With the implementation of C ASBA and Mero share, the share allotment of Arambha Microfinance was done within 36 hours of closing.
The successful implementation of C ASBA system has made the dream of share market possible and the digital/online way of share application is a great achievement.
If you have any queries about apply share online, do ask us and comment below.