Cut-off price is the offer price, finalized by a company in consultation with the book running lead managers (BRLMs), which could be any price within the price band. Applying on Cut-off price means the investor is ready to pay whatever price is decided by the company at the end of the book-building process.
When applying at a cut-off price, an investor has to pay the highest price while placing the bid. If a company decides the final price lower than the highest price asked for IPO, the remaining amount is returned to the retail investor.
For eg: if the price band of an IPO is between Rs.345 – Rs.350 and the investor opts to bid at the cut off price, then the application would be done at the cap price i.e. Rs.350. However, if the determined issue price is less than Rs.350, then price difference between the issue price and the cap price would be refunded to the investor after allotment

ASBA stands for "Applications Supported by Blocked Accounts". At the time of bidding, investors’ account is blocked to the extent of the bid amount and debited only at the time of allotment. This facility is being offered by ICICIDirect in affiliation with ICICI Bank Limited for 3-in-1 accounts i.e. customers who have ICICI Bank account linked to their Trading accounts
For 2-in-1 accounts where the customers have other bank account linked to their trading accounts, customers can use the UPI option for applying in IPOs

An investor can place maximum of 3 bids in an issue.

Yes, the investor can revise or withdraw the bids after application. It can be done only once the order is “Executed”. The investor can go to the IPO Order Book and then click on Withdraw Application/ Revise Bid. The application in the HNI category cannot be withdrawn but can only be revised on the higher side
However, this needs to be done during the Issue Period and cannot be done after the Issue is closed. In case of ASBA applications, for upward revision of bid, additional lien will be marked to the extent of incremental amount. However, in case of downward revision, differential money blocked earlier will not be released. Such amount, if any, will be released after allotment.

An Initial Public Offering (IPO) is when a company issues common stock or shares to the public for the first time. It is the process where a privately held company becomes a publicly traded company with the initial sale of its stock. An IPO is a tool that companies use to secure capital through investments for future use. In most instances, this investment is used to expand or improve the business. 

You need a demat account linked to your bank account to apply for an IPO. However, if you plan to sell the shares after listing, you must also have a trading account. As far as the eligibility criteria are concerned, all individual investors with a PAN Card issued by the Income Tax Department of India can invest in an IPO.

A Price Band is a price floor and a cap between which a seller will let buyers place bids on a security, usually during an initial public offering (IPO).
For eg: if the price band of Route Mobile is between Rs. 345-Rs. 350, it means that investors can bid for shares of Route Mobile at any price between Rs.345- Rs.350

Minimum Order Quantity, as name suggests, is the minimum number of shares investors can apply while bidding in an IPO. If investors want to bid for more shares, they can apply in multiples of IPO market lot (Lot Size or IPO Bid Lot) of shares.
Example:
IPO: Route Mobile
IPO Public Issue Price: Rs.345/- to Rs.350/- Per Equity Share
Minimum Order Quantity: 40 Shares.

Investors need to apply for at least 40 shares. They can apply at any price within the price range i.e. Rs.345 – Rs.350. If the investor wants to apply for more than 40 shares, he needs to apply in multiples of 40 i.e. he can either apply for 80 shares or 120 shares etc.

If an investor wants to place bids for less than Rs.2 lacs, he needs to apply in the Retail segment. If an investor wants to bid for more than Rs.2 lacs, he needs to apply in the HNI segment. 

You can check the upcoming IPOs in the below mentioned link

https://www.icicidirect.com/ipo/upcoming-ipos

You can check the top performing IPOs in the below mentioned link

https://www.icicidirect.com/ipo/top-performing-ipos

Under ASBA since customers are required to block an amount, the customer can enter their UPI details while applying for the IPO. This will send a mandate to the UPI app, all the customer has to do is accept this and the amount will be blocked. Customer will have to accept this mandate before 5pm on closing date.

Usually, it can take up 24 hours to receive the UPI mandate as the application has to go through broker, exchange and NPCI. Please check back after 24 hours of order placement.