SBI branches will be open for LIC IPO on Sunday, good news for investors

SBI has said that for the convenience of applying for LIC IPO, all our branches will be open to accept applications on 8th May 2022 i.e. Sunday. Customers can come and apply.

State Bank of India (SBI) has said to keep all branches open on eighth May for example Sunday to acknowledge the use of LIC IPO. The declaration comes a day after the RBI guided all ASBA assigned branches to stay open for the uber IPO on Sunday. SBI said from its Twitter account, "Here is an good news for every one of our clients who have applied for LIC IPO." SBI said, "We are glad to illuminate that for the accommodation regarding our clients applying for LIC IPO, every one of our branches will stay open to acknowledge applications on May 8, 2022 (Sunday)."

RBI declared on 4 May - Government of India has mentioned to work with offering for LIC IPO to all bank offices assigned to alter ASBA (Application Supported by Blocked Amount) applications for financial backers on 8 May. can be kept open. Prior, IPOs were permitted to be exchanged on ends of the week just on Saturdays. Notwithstanding, it will presently be accessible for offering on Sundays also.

Here's a good news for all our customers applying for LIC IPO!

 

Here's a good news for all our customers applying for LIC IPO!#LIC #IPO #Investment #Finance #SBI #AmritMahotsav #AzadiKaAmritMahotsavWithSBI pic.twitter.com/FdhxO3iuso

— State Bank of India (@TheOfficialSBI) May 6, 2022

What is ASBA

According to SEBI round SBA is an application made by a investors, wherein Self-Certified Syndicate Bank (SCSB) is enabled to hinder the application sum in the ledger for buying into an issue. As per the SEBI roundabout, in the event that a financial backer is applying through ASBA, the cash of his application will be charged from the ledger provided that his application is chosen based on designation.