ASBA

ASBA stands for Applications Supported by Blocked Amount.

It is a process wherein banks allow their customers to apply for the IPO and the IPO application amount will remain in their bank account till allotment. Once allotment is out, funds will be debited if you get the shares otherwise released back. Thus, you continue earning interest on the blocked application amount.

For more details please visit : How to apply for an IPO through ASBA