Applications Supported by Blocked Amount (ASBA) enables blocking of investor funds until allotment in book built issues. ASBA permits resident retail investors bidding at cut off to authorise SCSBs to block application funds in their bank accounts until allotment finalisation or withdrawal. Certified SCSBs must block/unblock funds, upload applicant data to stock exchange electronic bidding systems, designate Controlling and Designated Branches, and retain records; Registrars reconcile and verify bid data against depository records, finalise basis of allotment, instruct SCSBs to transfer funds, and maintain electronic records and complaint redressal. Merchant bankers and stock exchanges must enable disclosures, forms, timelines, secure data interfaces and accurate transmission of bid files.
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.
Applications Supported by Blocked Amount (ASBA) enables blocking of investor funds until allotment in book built issues.
ASBA permits resident retail investors bidding at cut off to authorise SCSBs to block application funds in their bank accounts until allotment finalisation or withdrawal. Certified SCSBs must block/unblock funds, upload applicant data to stock exchange electronic bidding systems, designate Controlling and Designated Branches, and retain records; Registrars reconcile and verify bid data against depository records, finalise basis of allotment, instruct SCSBs to transfer funds, and maintain electronic records and complaint redressal. Merchant bankers and stock exchanges must enable disclosures, forms, timelines, secure data interfaces and accurate transmission of bid files.
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