Participating in an Initial Public Offering (IPO) through the Applications Supported by Blocked Amount (ASBA) method requires a clear understanding of the last day cut off time in ASBA. Missing this critical deadline could mean losing an opportunity to invest in a promising company. Here’s an in-depth look at the last day IPO apply time, including key timings, bank-specific deadlines, and expert tips to ensure a seamless application process.
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What is ASBA?
ASBA is a facility that streamlines the IPO application process. With ASBA, the application amount remains blocked in your bank account until the IPO allotment is finalized. Investors benefit by earning interest on the blocked funds while ensuring liquidity.
Why Knowing the Last Day Cut Off Time in ASBA is Crucial?
On the final day of an IPO, timing is everything. While stock exchanges like BSE and NSE accept bids between 10:00 AM and 5:00 PM, banks enforce their own cut off times, typically closing earlier. These cut off timings can range from 2:00 PM to 4:00 PM, depending on the bank. Without proper awareness, investors risk missing their chance to participate in the IPO.
Bank-Specific IPO Cut Off Time on Last Day
Different banks have varying cut-off times for accepting IPO applications. Here’s a detailed breakdown:
| Bank Name | IPO Cut Off Time (Mainboard IPOs) | IPO Cut Off Time (SME IPOs) |
|---|---|---|
| AU Small Finance Bank | 3:30 PM | 2:30 PM |
| Axis Bank | 3:00 PM | 2:00 PM |
| Bank of Baroda | 3:00 PM | 2:30 PM |
| Bank of India | 3:00 PM | 2:00 PM |
| Canara Bank | 4:30 PM | 3:00 PM |
| Equitas Small Finance Bank | 4:00 PM | 3:00 PM |
| Federal Bank | 2:00 PM | 1.00 PM |
| HDFC Bank | 4:00 PM | 3:00 PM |
| ICICI Bank | 4:30 PM | 3:00 PM |
| Indian Overseas Bank | 2:30 PM | 2:00 PM |
| IDBI Bank | 3:00 PM | 2:00 PM |
| IDFC Bank | 4:30 PM | 3:00 PM |
| Indusind Bank | 3:30 PM | 2:30 PM |
| Kotak Mahindra Bank | 4:00 PM | 3:00 PM |
| Punjab National Bank (PNB) | 4:00 PM | 2:30 PM |
| SBI Bank | 2:00 PM | 1:00 PM |
| Union Bank of India | 3:00 PM | 2:00 PM |
| Yes Bank | 3:00 PM | 3:00 PM |
Banks like SBI and Federal Bank impose an earlier deadline of 2:00 PM, while others, such as HDFC Bank and ICICI Bank, extend their cut-off time to 4:00 PM or later on the last day of bidding.
Read Also: Online ASBA FAQs
Tips to Avoid Missing the Last Day Cut Off Time in ASBA
To ensure a hassle-free experience when applying for an IPO, follow these expert recommendations:
- Check Your Bank’s Deadline: Confirm your bank’s IPO application time on the last day to avoid last-minute surprises.
- Apply Early: Submit your application well before the cut-off to prevent delays caused by technical issues or high traffic.
- Leverage Online Banking: Utilize your bank’s net banking facilities to submit ASBA applications quickly and efficiently.
- Monitor Application Status: After applying, track the status through your bank’s portal to ensure successful submission.
- Avoid Peak Times: Banks may experience system slowdowns closer to the deadline. Applying earlier reduces this risk.
Read Also: ASBA e Forms – Download IPO Application Form, BSE & NSE IPO Form
Conclusion: Secure Your IPO Investment with Timely Action
Understanding the last day cut off time in ASBA is a critical step in maximizing your IPO investment opportunities. While exchanges accept bids until 5:00 PM, banks often enforce earlier cut-offs. By being proactive, confirming your bank’s specific timings, and submitting your application well in advance, you can navigate the process smoothly.
Timely planning not only prevents missed opportunities but also helps you stay ahead in the competitive world of IPO investments. Be informed, act early, and make the most of your financial potential.
Last Day Cut-Off Time in ASBA – FAQs
What is ASBA?
ASBA stands for Application Supported by Blocked Amount. It is a facility that allows investors to apply for IPOs while keeping their funds in their bank accounts, which are blocked for the amount of the application.
What is the cut-off time for ASBA applications?
The cut-off time for ASBA applications typically varies depending on the stock exchange and the specific IPO. Generally, it is set at 5 PM on the last day of the IPO subscription period.
What happens if I miss the IPO cut-off time?
If you miss the cut-off time for submitting your ASBA application, your application may not be considered for that particular IPO, and your funds will not be blocked.
Which bank has the earliest last day IPO apply time?
SBI has the earliest IPO cut-off time, which is 2:00 PM.
