ASBA Process/Union e-invest (online application)

Frequently Asked Questions

Q1. What is ASBA?

Ans.

1. Applications Supported by Blocked Amount (ASBA) means an application for

subscription to an issue containing an authorization to block the application money
in a Bank account with Self Certified Syndicate Bank.

2. It is an additional mode of payment for investment in shares.

3. Without moving the funds out of your account, the amount will now be simply
blocked. This means as long as the IPO shares are not allotted, the funds stay in your
account and you will also not lose interest in your savings bank account.

4. The unblocking process is also very secure. The amount equivalent to allotted
shares will be debited from your account and the balance, if any, will be unblocked
in your account and made available for your usage.

The above service is being made available by the Bank as a Self Certified Syndicate
Bank (SCSB) in accordance with the SEBI guidelines on ASBA and would be made
available for all issues brought under ASBA.

Q2. What is Self Certified Syndicate Bank (SCSB)?

Ans. Self Certified Syndicate Bank (SCSB) is a banker to an issue registered under
SEBI (Bankers to an issue) Regulation, 1994 and which offers the services of making
an ASBA and recognized as such by the board. Union Bank of India is a SCSB.

Q3. What are the advantages of payment through this mode?

Ans. The following are the advantages of ASBA mode of payment :

1. The funds remain in your account and can earn eligible interest. On allotment
only to the extent of allotted shares, the money is passed on to the issuer
company and the balance is unblocked instantaneously in your account.
Hence there are no delays which may be associated with the refund order.

2. Writing cheques and demand drafts is not required any more.

3. Release / unblocking of funds after allotment is done instantaneously.

Q4. Who can use this payment mode?

Ans. Only Union Bank account holders can use this facility. If you are not a Union
Bank customer, open an account and bank with us.

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Q5. Are there any other restrictions for applying through ASBA?

Ans. Following are the restrictions for applying through ASBA.

i) This facility is available for individual investors only and the maximum
limit for investing is Rs. 100,000.
ii) The investor has to bid at the cut off price according to the price band
stipulated for the issue.
iii) Multiple applications by the same investor are not permitted.

Q6. How to apply through this mode?

Ans. There are two ways in which customers can make the applications using ASBA.

i) Applying through physical application and submitting it at one of the hundred

designated branches.
(The details of the 100 designated branches are at
http://unionbankofindias.co.in/authorbranch.aspx)
OR
ii) Apply online

Q7. How to apply through physical application?

Ans. Investors can submit the ASBA application form and submit it to one of the
designated branches. The list of the branches is available on the link above.

Q8. What all information is required to be submitted?

Ans. An investor may submit the following information along with the application.

i) Name of 1st/ 2nd/ 3rd investors.

ii) PAN no. of investors/ joint investors.
iii) Demat account no.
iv) 15 digit account no. in which the money is to be blocked.
v) No. of shares applied subject to the minimum, maximum limits and the
multiple restrictions as specified in the issue.

Q9. How to apply online?

Ans. You can use the Union e-invest facility provided by the Union Bank to apply
online for shares in the issues. The link is https://eremit.unionbankofindia.co.in/asba
OR http://www.unionbankofindia.co.in/

Q10. What is Union e-invest ?

Ans. Union e-invest is a facility wherein customers of Union Bank can apply in IPOs
online. The advantage is that it eliminates the filling up of physical ASBA
application forms and visiting the designated branches to submit them. Using Union
e-invest any customer of Union Bank will have the ease of applying for shares in
IPOs from his home only.

Q11. Who all can apply through Union e-invest?

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Ans. Customers having an account with Union Bank of India and having Internet
Banking facility can apply using the Union e-invest facility. The customers should
have sufficient clear balance in their savings bank account or Current account for
application moneys. They should have demat account with any depository i.e. either
CDSL or NSDL.

Q12. Do I need to register first?

Ans. Yes. For frequent investors in IPOs, it is preferable to register first as it will
eliminate data feeding. Once you have registered, the submitted data is
automatically populated and you just have to choose the company and apply for the
shares.
However there is a provision of instant blocking for not very frequent players. Where
they can directly go for applying without any login as registered user..

Q13. How do I register in Union e-invest?

Ans. Click on ASBA link at the Union Bank website. Click on online application. This
takes you to the Union e-invest page where there is a menu for different functions
related to the issues.

Go to the registered users link on the e-invest page and fill in the details required
like your name, pan card number and the account details. This will register you to
use the Union e-invest facility.

Q14. Do I need to submit any other documents?

Ans. No other documents are required to be furnished while applying through Union
e-invest facility.

Q15. Can I see the list of all the IPOs?

Ans. Yes. Go to Available issues link on Union e-invest page. This displays all the
issues currently open with all the related information.

Q16. Can I apply on 'Lower Price Band' using e-invest?

Ans. In the current form of ASBA, eligible investors can only apply at cut-off price.

Q17. What if I have more than one holders in my DP account?

Ans. You should fill your application in the same holding sequence as in your DP.
However the amount can be blocked in any of the predefined customer's account.

Q18. Will I have to give my pan number?

Ans. Yes. Furnishing of PAN no. details is mandatory.

Q19. How do I transfer funds?

Ans. You do not need to transfer funds. Just apply for desired number of shares.
and the respective amount will be blocked in your account, i.e. your effective
available balance will reduce by the amount used for these applications.

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Q20. On applying through Union e-invest, would my S/B account earn interest for
the blocked amount?

Ans. Yes, interest will be payable on blocked amount as per RBI guidelines.

Q21. Do I need to pay any services charges for availing e-invest services?

Ans. At present, no service charge is being levied.

Q22. Can I see my past applications placed?

Ans. Yes. Login with your registered ID. Go to the print receipts link. Insert your
account no. This will display the applications made by you through e-invest.
You can also view the details of a particular application by clicking on the Block
reference no.

Q23. How will I be intimated about my application status?

Ans. In the Block reference no., as mentioned above, the status of your application
is also displayed.

Q24. What will be the allotment and the refund process?

Ans. The Registrar to the issue will do the allotment. Initially, the account is
blocked for the shares applied. Once the allotment process is over then the
equivalent amount for the allotted shares will be debited to your account and
remitted to the issuer company. The balance amount, if any will be unblocked.

Q25. Can I modify my application?

Ans. The application can be modified before blocking the amount. Once you have
finally confirmed to block the amount, then no modifications are possible. You have
the option to withdraw your application and apply a fresh one with all the correct
details.

Q26. Will I have to give my details everytime I apply for shares of an issue?

Ans. Once you have registered, you need not give your details everytime you apply
for any issue. You have only to select the IPO and the number of shares you wish to
apply for.
But if you are using the "Instant Blocking facility" then you need to feed the details
everytime you apply in for an IPO.