e-IPO compliance: mandatory broker collection, escrow funding and prescribed allocation and refund procedures for public offers. The on-line IPO framework requires issuers to contract with exchanges, appoint a connected Registrar, disclose intermediaries, and vest coordination responsibility in the Lead Manager. Stock exchanges appoint SEBI-registered brokers as collection centres; brokers must accept orders, perform client identification, collect margin money into a segregated escrow account, enter validated orders in the system, forward daily order data to the Registrar, and bear financial responsibility for client defaults while exchanges may inspect records and supervise member activity.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
e-IPO compliance: mandatory broker collection, escrow funding and prescribed allocation and refund procedures for public offers.
The on-line IPO framework requires issuers to contract with exchanges, appoint a connected Registrar, disclose intermediaries, and vest coordination responsibility in the Lead Manager. Stock exchanges appoint SEBI-registered brokers as collection centres; brokers must accept orders, perform client identification, collect margin money into a segregated escrow account, enter validated orders in the system, forward daily order data to the Registrar, and bear financial responsibility for client defaults while exchanges may inspect records and supervise member activity.
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