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ASBA facility mandatory for public issues, expanding collection points and ensuring coordinated listing within six working days. The circular mandates exclusive use of the ASBA facility for public issue applications and broadens authorised application collection points to include RTAs and DPs alongside SCSBs, syndicate members and registered brokers. Intermediaries must upload bid details to the electronic bidding system, acknowledge receipt, coordinate blocking of funds with SCSBs, and comply with specified timelines to ensure listing and commencement of trading within six working days from issue closure. Stock exchanges will validate bids, permit daily modifications, and provide application and allotment status alerts to investors.
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ASBA facility mandatory for public issues, expanding collection points and ensuring coordinated listing within six working days.
The circular mandates exclusive use of the ASBA facility for public issue applications and broadens authorised application collection points to include RTAs and DPs alongside SCSBs, syndicate members and registered brokers. Intermediaries must upload bid details to the electronic bidding system, acknowledge receipt, coordinate blocking of funds with SCSBs, and comply with specified timelines to ensure listing and commencement of trading within six working days from issue closure. Stock exchanges will validate bids, permit daily modifications, and provide application and allotment status alerts to investors.
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