Purpose of the Service

• Verifies Bank Account Information of the Investors with DEMAT Account Information
• akes a standing instruction from the client which states that " The client agrees that the bank can debit/freeze the amount from/in his BANK Account if the instruction is initiated for the mentioned BOID (Which is verified by BANK).
• Blocks the Funds in the Investors Bank Account according to the information received from the System
• Debits the Funds as per the information received from the System.
• Releases the blocked amount as per the information received from the system

Applying for IPO using online application

• Investor will get Mero Share login from his/her own DP.
• Investor will submit CRF to his bank and receive CRN.Investor will get an application portal (MY ASBA) activated in his Mero Share application once the bank registers the client to C-ASBA and provides the CRN.
• Investor will apply for the IPO through ASBA portal using his CRN.
• Bank will get the application report to his C-ASBA application.
• Bank will download the freeze instruction file for all the received application and upload to their CBS system.
• Bank will generate and upload Confirmation Report to the system.
• Issue Manager will generate the report and process for the allotment.

Benefits:

• IPO/Right Share can be applied from own Bank account
• An investor need not pay the application money by cheque.
• The investor does not have to worry about refunds.
• The investor continues to earn interest on the application money as the same remains in the bank account.
• The application form is simpler.