For the past few years, SEBI, i.e., Securities and Exchange Board of India, introduced a system that enabled investors to sidestep intermediaries such as stockbrokers when applying for IPOs, right issues, and mutual fund New Fund Offers (NFOs). For the convenience of the investors, the ASBA facility was introduced. When talking about the IPO applications, SEBI has enabled the investors to make payments through ASBA, an alternate route to apply for the public equity shares. We all, by now know,
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