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of <h1>SEBI Updates Public Issue Application Rules: Mandatory ASBA Payment, New Form Requirements Effective January 1, 2016.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) revises the application-cum-bidding form and disclosure requirements for public issues of equity shares and convertibles. Effective January 1, 2016, all investors must use the Application Supported by Blocked Amount (ASBA) facility for payments. The circular rescinds previous guidelines from September 27, 2011, and mandates compliance from all intermediaries, including stock exchanges and depositories. It outlines detailed instructions for completing the application form, including identification, bidding, payment details, and confirmation requirements. The circular also provides guidelines for bid revision applications and emphasizes compliance with the new format.
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