ASBA

Also known as: application supported by blocked amount, upi mandate ipo

ASBA (Application Supported by Blocked Amount) is the SEBI-mandated IPO application mechanism: your money is only *blocked* in your bank account (or via UPI mandate) when you apply, keeps earning interest, and is debited only for the shares you are actually allotted. No allotment, no debit — the block simply releases. It removed the old wait-for-refund pain entirely.