To apply for a rights issue online, first confirm that you were eligible on the record date and read the issue’s letter of offer. Then sign in to internet banking at an eligible Self Certified Syndicate Bank (SCSB), open its IPO, ASBA or rights-issue service, select the exact issue, enter your permitted quantity and demat details, and authorize the bank to block the application amount. After allotment is finalized, the amount due for allotted shares is transferred or debited and any unused balance is released.
Online filing works only when your bank is an SCSB for that issue and has enabled internet ASBA. The letter of offer—not a generic bank menu—controls your entitlement ratio, price, deadlines, renunciation rules and allotment terms.
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What a rights issue is and who can apply
A rights issue is an offer by a company to issue additional shares to its existing shareholders. Your eligibility is determined by whether you held the company’s shares on the record date stated in the offer documents. The entitlement ratio tells you how many new shares you may subscribe for in relation to your existing holding, while the issue price states what each permitted share costs.
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- Subscribe: apply for some or all of the shares offered to you.
- Renounce or transfer: sell or transfer the rights entitlement if the issue permits it and the transfer window is still open.
- Let it lapse: take no action. An unused entitlement can expire, and declining to participate may reduce your ownership percentage because other shareholders may receive new shares.
The record date, entitlement ratio, issue price, opening and closing dates, and any conditions for requesting shares beyond your basic entitlement are specific to each issue. Treat the company’s letter of offer and related notices as the controlling documents.
Read the letter of offer before opening your bank portal
Most application errors happen before the bank blocks any funds. Keep the issue document open and verify every field you will later enter.
Confirm your eligibility and entitlement
Check the record date and the number of shares you were entitled to receive. Do not assume that a current holding automatically creates eligibility; the relevant ownership test is the record date. The document also states how the entitlement is identified and whether it can be renounced or transferred.
Check the price and permitted quantities
Record the issue price and the maximum quantity you may request under your entitlement. If the issue accepts applications for additional shares, read the conditions and priority rules for those requests. Your bank may display a quantity field, but the offer document determines what quantity is valid.
Write down every deadline
Note the issue opening and closing dates, the last date for renunciation or transfer if allowed, and any deadline for changing an application. Your bank can impose an earlier daily cut-off for online ASBA. A submission made after the bank’s cut-off may not reach the issue even if the issue’s published closing date has not passed.
Prepare the required identity and demat information
Have your PAN, demat beneficiary details and the account information requested by the application form available. The name and details in the bank, demat and issue records should match the requirements in the offer documents. If the portal asks for information not shown in your records, stop and verify it rather than guessing.
How ASBA handles your money
ASBA means Applications Supported by Blocked Amount. Instead of sending the application money away immediately, the SCSB places a hold on the specified amount in your linked savings account while the issue is processed. You cannot use the blocked portion for other payments during that period, but the funds remain in your account until the allotment decision.
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SEBI’s stated mechanism is that the SCSB blocks the application money in the bank account on the basis of authorization given by the account holder in the application. The bank first verifies the application and the available balance. The blocked amount therefore needs to be present when you authorize the request; an insufficient balance can cause rejection or prevent the block.
Once allotment is finalized, the bank transfers or debits the amount due for the shares actually allotted. Any amount no longer required—because you received fewer shares than requested or none—must be unblocked. The exact release timing depends on the issue’s processing and the bank’s operational schedule, so monitor the account rather than assuming the hold disappears immediately at the issue closing.
Online ASBA, physical ASBA and other permitted channels
Internet banking is convenient, but it is not universal. SEBI’s investor guidance allows a rights-issue application through a physical ASBA form or electronically through internet banking when the applicant’s SCSB provides that service for the issue. The available route, bank cut-off and form requirements can vary.
| Channel | What you need | How the amount is handled | What to verify |
|---|---|---|---|
| Internet ASBA | A savings account with an eligible SCSB, internet banking with transaction rights, PAN and demat details | The SCSB blocks the application amount electronically; after allotment it debits or transfers the amount due and releases the rest | Whether your bank lists this exact issue and its online cut-off |
| Physical ASBA | The prescribed application form and a savings account with an SCSB | The SCSB blocks the amount after accepting and checking the form | Branch acceptance, issue-specific form instructions and the submission deadline |
| Renunciation or transfer | An eligible rights entitlement and compliance with the offer’s transfer rules | You do not submit an ASBA application merely by transferring an entitlement; the recipient must follow the issue’s application process | Whether renunciation is allowed, the transfer window and any restrictions |
A bank may offer an IPO menu but not internet ASBA for every rights issue. Availability is issue-specific. If the exact company and issue are absent from the portal, do not select a similarly named listing or attempt to force a generic IPO application through another menu.
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1. Select an eligible SCSB account
Use a savings account held with an SCSB that accepts ASBA applications for the issue. The account must support the type of internet-banking transaction required by your bank. A demat account alone is not enough: the ASBA block is placed in the linked SCSB bank account.
2. Sign in through the bank’s official internet-banking service
Use the bank’s normal sign-in page and complete its authentication steps. Banks use different labels, but the relevant menu is commonly called IPO, ASBA, Investments or Rights Issue. For example, bank documentation may describe an online ASBA route for customers whose accounts have internet access and transaction rights. Do not rely on a menu path copied from another bank; labels and screens differ.
3. Open the rights-issue or ASBA application screen
Choose the service that accepts ASBA applications, then review the list of live issues. If your bank provides separate IPO and rights-issue menus, use the rights-issue option. Some portals display only issues for which that bank is currently enabled as an SCSB.
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4. Match the exact issue
Compare the company name, issue description and dates shown in the portal with the letter of offer. Check for similarly named companies, multiple security types or an old issue that has already closed. If the portal does not show the issue, contact the bank through its official support channel and check the issue notice before trying another route.
5. Enter your application details
Fill in the fields requested by the bank and the issue, which can include:
- Your PAN.
- The demat beneficiary or client details where the shares should be credited.
- The number of shares within your entitlement.
- An application for additional shares, if the offer permits it and you meet its conditions.
- Any other declarations or account details shown on the electronic form.
Use the entitlement shown in the offer documents rather than an estimate based on your current portfolio. If you are applying after receiving a renounced entitlement, follow the special instructions for that entitlement and enter the beneficiary details exactly as required.
6. Review the amount before authorizing the block
The portal should display the quantity and total application amount. Reconcile that amount with the issue price and the quantity you intend to request. Check the PAN, demat account, bank account and issue name one more time. An authorization normally cannot be corrected by simply editing the submitted screen; the issue’s modification rules and deadline govern whether a change is possible.
7. Authorize the ASBA hold
Confirm the bank’s authorization request using its required authentication method. By authorizing, you instruct the SCSB to block the application money in the account. The funds must remain available for the hold to succeed. Do not treat the authorization as a guarantee that shares will be allotted; it is an application and blocking instruction.
8. Save the acknowledgement
Download or record the application number, reference number, date and submitted quantity. Keep a copy of the on-screen confirmation or bank message. This information is useful if the issue, registrar or bank later asks you to trace an application.
9. Monitor processing through allotment
Watch for the issue’s allotment notice, the debit or transfer for shares allotted, release of excess funds and credit of shares to the specified demat account. The bank, registrar and company’s issue notices may each show a different part of the process. If the bank shows a continuing block after the published processing stage, use your saved reference number when contacting support.
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How to use a rights entitlement
Your entitlement represents the right to participate under the terms stated in the offer. It is not the same as an automatic allotment. Decide what to do before the relevant deadline.
Subscribe to the entitlement
Apply for the permitted quantity through ASBA, using the bank and demat information required by the issue. If you want fewer than your full entitlement, enter the lower quantity only if the application rules allow it. The amount blocked is based on the quantity and price specified in the application.
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Request additional shares
Some issues allow an eligible holder to request more shares than the basic entitlement. This is not guaranteed. The letter of offer explains whether additional applications are accepted, how they are prioritized and what happens if demand exceeds the shares available. Enter an additional quantity only when the offer expressly permits it.
Renounce or transfer where permitted
If the offer allows renunciation or transfer, follow its method and deadline. A transferee cannot assume that receiving an entitlement completes the share application; the transferee must apply through the route specified in the issue documents. Confirm that the transfer has been recorded before the application deadline.
Allow the entitlement to lapse
If you neither subscribe nor validly renounce an entitlement, it may lapse. The practical consequence can include dilution of your percentage ownership because new shares are issued to participating investors. The offer document determines the exact lapse treatment.
When will the money be debited or unblocked?
There are three distinct money events:
- Block: after the SCSB verifies and accepts your instruction, it places a hold for the application amount in your savings account.
- Allotment debit or transfer: after the allotment is finalized, the bank takes the amount due for the shares actually allotted.
- Release: the bank unblocks the unused amount, including the portion corresponding to shares not allotted.
The issue timetable and bank processing determine when each event appears. The closing date is not necessarily the debit date, and a bank’s internal cut-off can precede the issue’s published closing time. A partial allotment can therefore leave one portion debited and another portion released. Check the account ledger and the allotment communication rather than interpreting a temporary hold as a final payment.
What to do when online ASBA is unavailable
The issue is not listed
Confirm that you are looking in the rights-issue or ASBA section, then compare the company name and dates with the offer document. If the issue still does not appear, your bank may not be enabled for online ASBA for that issue. Ask the bank whether it accepts a physical ASBA form and whether the branch has an earlier submission cut-off.
Your account cannot authorize the transaction
Some banks require internet banking with transaction rights, not view-only access. Resolve the account-access problem through the bank before the deadline. Do not share passwords, one-time codes or card credentials with anyone claiming to submit the form for you.
The available balance is too low
ASBA requires the application amount to be available for blocking. Deposit or transfer funds early enough for the bank’s balance to update, then submit again if the issue is still open. A pending block from an earlier attempt may reduce the available balance; ask the bank to confirm whether that attempt was accepted or rejected.
The PAN or demat details are rejected
Recheck the values against your demat and issue records, including beneficiary details and spelling. If the records themselves are inconsistent, contact the relevant intermediary before submitting a replacement. Never substitute another person’s PAN or demat account to bypass a validation error.
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You need to change an application
Modification is possible only if the issue and bank permit it and the modification deadline has not passed. Use the bank’s amendment or withdrawal function when available, and save the new acknowledgement. If no such function is shown, contact the SCSB and issue registrar immediately; a second application can create a duplicate or conflicting instruction.
Keeping a reliable application record
- Save the letter of offer and the issue timetable used when you applied.
- Keep the bank acknowledgement or reference number and the submitted quantity.
- Record the date and time of authorization, especially when the deadline is close.
- Check the account for the blocked amount, final debit or transfer and release of the balance.
- Verify the demat account for the credited shares after allotment.
- Use only official bank, registrar and company notices when checking status or resolving a discrepancy.
ASBA protects the timing of your cash by blocking it rather than collecting it immediately, but it does not remove the need to check eligibility, deadlines, identity details or allotment notices. The final rights you receive are determined by the issue documents and the allotment process.
Frequently asked questions
Can I apply online from any bank account?
No. The account must be a savings account with an SCSB that supports internet ASBA for that particular rights issue. A bank’s general online-investing facility does not by itself establish eligibility to accept the application.
Is a blocked amount the same as a completed purchase?
No. The block reserves funds for processing. Only after allotment is finalized is the amount due for allotted shares debited or transferred; the unused balance is released.
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What if I want to sell my entitlement instead of subscribing?
Renunciation or transfer is possible only when the offer document allows it and only within its stated window and method. Completing a transfer does not replace the recipient’s required application.
What happens if I do nothing?
The entitlement may lapse, and your ownership percentage can be diluted when new shares are issued to participating investors.
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