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Steps for applying Rights Issue Shares Through SBI via ASBA.
Note: The deadline timing to apply for Rights Issue Shares is 5:00 PM on the final day. However, some bank portals, such as SBI, may close this option earlier, around 2:00 PM. To avoid any last-minute hustle, it is advisable to apply a day in advance.
For PNB click link – Punjab National Bank: Apply for Rights Issue Shares Through PNB Bank via ASBA
1. Log in to Your Net Banking Portal
- Open your web browser and log in to your SBI net banking (SBI retail) account.
2. Add an IPO Applicant to Your Profile
- Before proceeding, ensure that you have added an IPO applicant to your profile. For guidance, refer to the instructions on Adding an IPO ASBA applicant in State Bank of India.
3. Navigate to Demat Services
- From the main menu, go to “e-Services” and select “Demat Services and ASBA (Application Supported by Blocked Amount) Services.”
Rights Issue apply in SBI via ASBA
4. Select IPO (Equity / Rights) Under ASBA Services
- Scroll down to the “ASBA Services (IPO)” section and choose “IPO (Equity / Rights).”
ASBA services IPO equity rights SBI
5. Accept the IPO Terms and Conditions
- Read and “Accept” the terms and conditions for applying to IPOs.
6. Choose the Rights Issue Stock
- A list of available IPOs and Rights Issue stocks will be displayed. For example, we select “Tata Consumer Products” or any other option you wish to apply for.
Select Rights Issue share in SBI
7. Agree to the ASBA Undertaking Terms and Conditions
- Review and “Accept” the ASBA Undertaking terms and conditions.
8. Select the Category
- Choose the appropriate category, such as “Shareholders/Renounce.”
Select Shareholder Category for Rights Issue
9. Enter the Application Details
- Select the Applicant: Choose the applicant from the Registered Applicant list.
(If you haven’t added an applicant yet, click link shown to add a new applicant or refer to the instructions on Adding an IPO ASBA applicant in SBI). - Selecting the Applicant: After selecting the applicant, details such as “Applicant Name, PAN, Transaction Type, and Beneficiary DP A/C Number” will be automatically filled.
- Enter Bid1 Details:
- Quantity: Enter the number of shares (e.g., 3 shares).
- Price: Enter the cutoff price, as mentioned in your email or the premium for that rights issue share. (Rs. 818 here for Tata Consumer)
- Total Bid Value: This will be automatically calculated.
- After entering the details, click on “Submit.”
Enter Rights Issue details Bid Quantity, Price, Demat DP account details
10. Review and Confirm
- Double-check all the details and then click “Confirm.”
Confirm Rights Issue Details
11. Authenticate the Transaction
- To complete the process, enter the OTP sent to your registered mobile number or provide your password as requested.
Confirm and Place Rights Issue Order
By following these steps, you can easily apply for rights issue shares through SBI Bank using the ASBA process.