TaxTMI 
TaxTMI 
Streamlining the Process of Public Issue of Equity Shares and convertibles
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.... public issues. 2. As a part of the continuing efforts to further streamline the process, it has been decided, in consultation with the stake holders to introduce the use of Unified Payments Interface (UPI) as a payment mechanism with Application Supported by Block Amount (ASBA) for applications in public issues by retail individual investors through intermediaries (Syndicate members, Registered Stock Brokers, Registrar and Transfer agent and Depository Participants). The proposed process would increase efficiency, eliminate the need for manual intervention at various stages, and will reduce the time duration from issue closure to listing by upto 3 working days. 3. Considering the time required for making necessary changes to the systems and to ensure complete and smooth transition to UPI payment mechanism, the proposed alternate payment mechanism and consequent reduction in timelines is proposed to be introduced in a phased manner as under: 3.1 Phase I: From January 01, 2019, the UPI mechanism for retail individual investors through intermediaries will be made effective along with the existing process and existing timeline of T+6 days. The same will continue, for a ....
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....ng of funds in investors account by the SCSB would continue. Investor may submit the bid-cum-application form online using the facility of linked online trading, demat and bank account (3-in-1 type accounts), provided by some of the brokers. Investor may submit bid-cum-application form with any of the intermediary, along with details of his/her bank account for blocking of funds. For such applications, the intermediary would upload the bid in stock exchange bidding platform and forward the application form to a branch of SCSB for blocking of funds.* A RII would also have the option to submit bid-cum-application form with any of the intermediary and use his / her UPI ID for the purpose of blocking of funds. Qualified Institutional Buyer (QIB) Not applicable Non Institutional Investor (NII) Not applicable 5.2 *For Phase II and Phase III, the RIIs will have the option to use only Channel I, II and IV for making application in a public issue. 6. Timelines 6.1 An indicative process flow for applications in public issue submitted by retail individual investor is placed at Annexure I. 6.2 The revised indicative timelines for various activities in Phase I &....
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....rovide the investors UPI linked bank account details to RTA for purpose of reconciliation. 10.4 RTA shall undertake technical rejection of all applications to reject applications made using third party bank account. 11. Obligations of the Issuer 11.1 The issuer shall appoint one of the SCSBs as Sponsor Bank to act as a conduit between the Stock Exchanges and NPCI in order to push the mandate collect requests and / or payment instructions of the retail investors into the UPI; 11.2 The Sponsor Bank appointed by the issuer may be the same as the bank with whom the public issue account has been opened. 12. Other requirements 12.1 The details of commission and processing fees payable to each intermediary and the timelines for payment shall be disclosed in the offer document. 12.2 The intermediaries shall provide necessary guidance to their investors in use of UPI while making applications in public issues. 12.3 All entities involved in the process shall co-ordinate with one another to ensure completion of listing of shares and commencement of trading in Phase I by T+6. 12.4 In Phase II, such entities shall aim to expeditiously complete the process of listing o....
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..... Application submitted with Self Certified Syndicate Bank (SCSB) i.e. RIIs bank (i) A RII may submit the bid-cum-application form, with ASBA as the sole mechanism for making payment, physically at the branch of a SCSB, i.e. RII's bank, or online, if such facility is provided by the SCSB. (ii) For such applications, the existing process of uploading of bid and blocking of funds in RII account by the SCSB would continue. 1.1.2. Application submitted with Intermediary (i) A RII would continue to have the option to submit the bid-cum-application form online using the facility of linked online trading, demat and bank account (3-in-1 type accounts), provided by some of the brokers. (ii) RII would also continue to have the option of submission of bid-cum-application form with any of the intermediary, along with details of his/her bank account for blocking of funds. In such case, the intermediary would upload the bid in stock exchange bidding platform and forward the application form to a branch of SCSB for blocking of funds. This option would be available upto the conclusion of Phase I. (iii) In addition to above channels, with effect from January 01, 2019, a RII would ....
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....cked as per his / her bid in such intimation. The RII would also be able to view an attachment wherein the IPO bid details submitted by RII will be visible. After reviewing the details properly, RII would be required to proceed to authorize the mandate. Such mandate raised by sponsor bank would be a one-time mandate for each application in the IPO. 2.2.5. Upon successful validation of block request by the RII, as above, the said information would be electronically received by the RIIs' bank, where the funds, equivalent to application amount, would get blocked in RIIs account. Intimation regarding confirmation of such block of funds in RIIs account would also be received by the RII. 2.2.6. The information containing status of block request (e.g. - accepted / decline / pending) would also be shared with the Sponsor Bank, which in turn would be shared with stock exchange. The block request status would also be displayed on stock exchange platform for information of the intermediary. 2.2.7. The information received from Sponsor Bank, would be shared by stock exchange with RTA in the form of a file for the purpose of reconciliation. 2.2.8. RIIs would continue to have the opt....
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....tained ii. a syndicate member (or sub-syndicate member) iii. a stock broker registered with a recognised stock exchange (and whose name is mentioned on the website of the stock exchange as eligible for this activity) ('broker') iv. a depository participant ('DP') (whose name is mentioned on the website of the stock exchange as eligible for this activity) v. a registrar to an issue and share transfer agent ('RTA') (whose name is mentioned on the website of the stock exchange as eligible for this activity) Retails investors submitting application with any of the entities at (ii) to (v) above (hereinafter referred as 'Intermediaries'), and intending to use UPI, shall also enter their UPI ID in the bid-cum-application form. Issue opening date to issue closing date (where T is issue closing date) 2. The aforesaid entities shall, at the time of receipt of application, give an acknowledgement to investor, by giving the counter foil or specifying the application number to the investor, as a proof of having accepted the application form, in physical or electronic mode, respectively. (i) For applications submitted to SCSB: After accepting the fo....
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....Intermediary Code 3. Intermediary Name 4. Bank Code 5. Bank Name 6. Location Code 7. Application No 8. Category 9. PAN 10. DP ID 11. Client ID 12. Quantity 13. Amount 14. Order No 15. Exchange (*The character length for each of fields of the schedule to be forwarded by the intermediaries along with each application form to the designated branches of the respective SCSBs for blocking of funds shall be uniformly prescribed by the stock exchange(s)) Designated branches of SCSBs may not accept schedule and applications after T+1 day. SCSBs to begin blocking of funds. Registrar to give bid file received from stock exchanges containing the application number and amount to all the SCSBs who may use this file for validation / reconciliation at their end. For retail applications submitted to intermediaries with use of UPI for payment: Sponsor Bank may not accept bid details from Stock Exchanges post T+1. Sponsor Bank to initiate request for blocking of funds to investor. T+1 6. For retail applications submitted to intermediaries with use of UPI for ....
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....tails with designated stock exchange(s) and confirm all formalities are complete except demat credit. Registrar to send bank-wise data of allottees, amount due on shares allotted, if any, and balance amount to be unblocked to SCSBs and Sponsor Bank. T+4 9. Registrar to receive confirmation of demat credit from depositories. Issuer and registrar to file confirmation of demat credit, lock-in and issuance of instructions to unblock ASBA funds, as applicable, with stock exchange(s). Issuer to make a listing application to stock exchange(s) and stock exchange(s) to give listing and trading permission. Issuer, merchant banker and registrar to publish allotment advertisement before the commencement of trading, prominently displaying the date of commencement of trading, in all the newspapers where issue opening/closing advertisements have appeared earlier. Stock exchange(s) to issue commencement of trading notice. T+5 10. Trading commences T+6 * Working days will be all trading days of stock exchanges, excluding Sundays, and bank holidays Annexure - III Timeline Schedule for Various Act....
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....ing the inconsistencies to the notice of intermediaries concerned, for rectification and re-submission within the time specified by stock exchange. Stock exchange(s) shall allow modification of selected fields viz. DP ID/Client ID or Pan ID (Either DP ID/Client ID or Pan ID can be modified but not BOTH), Bank code and Location code, in the bid details already uploaded. 3. For retail applications submitted to intermediaries, with use of UPI for payment: Stock Exchange to share bid details including the UPI ID with Sponsor Bank on a continuous basis, to enable Sponsor Bank to initiate mandate request on investors for blocking of funds. Sponsor Bank to initiate request for blocking of funds through NPCI to investor. Investor to accept mandate request for blocking of funds, on his / her mobile application, associated with UPI ID linked bank account. Issue opening date to issue closing date (where T is issue closing date) 4. Issue Closes T (Issue closing date) 5. For retail applications submitted to intermediaries with use of UPI for payment: Sponsor Bank may not accept bid details from Stock Exchanges post 11:00 a.m. ....
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....such, based on common PAN. Registrar to undertake "Technical Rejection" test based on electronic bid details and prepare list of technical rejection cases. T+2 7. Finalisation of technical rejection and minutes of the meeting between issuer, lead manager, registrar. Registrar shall finalise the basis of allotment and submit it to the designated stock exchange for approval. Designated Stock Exchange(s) to approve the basis of allotment. Registrar to prepare funds transfer schedule based on approved basis of allotment. Registrar / Issuer to initiate corporate action to carry out lock-in for pre-issue capital held in depository system. Registrar and merchant banker to issue funds transfer instructions to SCSBs and Sponsor Bank. T+3 8. Registrar to receive confirmation for pre-issue capital lock-in from depositories. SCSBs and Sponsor Bank to credit the funds in public issue account of the issuer and confirm the same. Issuer shall make the allotment. Registrar / Issuer to initiate corporate action for credit of shares to successful allottees. Issuer and registrar to file allotment details with desig....
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....es inclusive ASBA use case. (iv) We have undertaken the mock trial run of our systems for ASBA, with the Stock Exchange(s) and Registrar(s) and have satisfied ourselves that we have adequate systems/ infrastructure in place at our Controlling Branch/ Designated Branches to fulfill our responsibilities/ obligations as envisaged in the ASBA facility within the timelines specified therein. These responsibilities/ obligations, inter-alia, include: a. Collection of physical and/ or electronic ASBA from the ASBA investors. b. Capturing relevant details from the physical and/ or electronic ASBA. c. Blocking funds to the extent of application money in the bank account specified in the ASBA till finalisation of the basis of allotment or withdrawal/failure of the issue or withdrawal/ rejection of the application, as the case may be. d. Uploading details of the ASBA in the electronic bidding system of the Stock Exchange(s), sending to and receiving from the Registrar(s) data pertaining to the ASBA and the issue, in a secured form. e. Ensuring that there is a proper segregation of applications/ amount/ data issue- wise in respect of various issue....
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....ic issue. Format of certificate to be submitted by Sponsor Banks (xi) We, [Name of the Bank], hold a valid certificate of registration as a Banker to an Issue under the SEBI (Bankers to an Issue) Regulations, 1994. Our SEBI registration number is _____________________valid up to_______________. (xii) We have an arrangement with at least one of the stock exchange(s) that provides the electronic bidding system, through a web enabled interface, wherein the stock exchange will be able to share the bid details along with the investors UPI ID; (xiii) We hereby confirm that we have completed the UPI 2.0 certification process with National Payments Corporation of India (NPCI) as an Issuer/Issuer & Acquirer/Acquirer. We have also received a sign off from NPCI on same for go live and are interested to become a Sponsor Bank. (xiv) We have undertaken the mock trial run of our systems for acting as Sponsor Banks for ASBA, with the Stock Exchange(s) and Registrar(s) and have satisfied ourselves that we have adequate systems/ infrastructure in place to fulfill our responsibilities/ obligations as envisaged in the role of a Sponsor Bank in the ASBA facility within the timelines spec....
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....ment / payment instrument ============= Document 1 Document 2 Block request SMS to investor Block request intimation through UPI application Vodafone IN 12:37 AM Vodafone IN 3G 3:21 PM Document 3 1. Investor UPI application screen Vodafone IN 3G 3:35 PM ↠UPI Mandate MANDATE Ñ 2. Sample of IPO details in attachment Secure https:// 1 Enter Details å› Create Scan Investor Details Depository Name NSDL OPID IN300613 ClientID 14871468 Beneficiary No PAN Card AAMPF7581P Investor's Name SHYAM SHARAM ACTIVE Request From PENDING COMPLETED IPO Details 17 July 2018 14:21 Company Name IPO FOS SUPREMEENG 40000 ABC Company xyzipo@bank *40000.00 ONETIME PENDING Application no 80001854 Validity 17 July 2018 > 20 July 2018 Face Value 10.00 Maximum Price 32.00 Manun Price 27.00 DECLINE PROCEED Click here to view the attachment Cut Off Price 32:00 PO Start Date 20 July 2018 PO End Date 27 July 2018 Discount Amount Discount Category NA This attachment will contain IPO ap....
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....018 FREQUENCY: One Time UMN: 5473tsfeh735489jsbyw457 isntea59jdkn@upi REMARKS: Application No 80001834 A Text Message ↑ A Document 5 ---TEAR HERE- PLEASE FILL I Illustrative format for Application-Cum-Bidding Form and Revision form COMMON BID CUM APPLICATION FORM XYZ LIMITED - INITIAL PUBLIC OFFER - R Registered Office occxcxcxcomm Corporate Office xwzamxxann mxx.comx.comww.ceow Tel +xccoooooox Fax sc Contact Person 30000000 Fax E-mail xxxxxxx Website xxxxx Corporate Idtesty Number: xnxxx.comxxx To, LOGO The Board of Directors XYZ LIMITED 100% BOOK BUILT OFFER ISIN: XXXXXXXXX Bid cum Application Form No. FOR RESIDENT INDIAN INVESTORS, INCLUDING RESIDENT GIR NON-INSTITUTIONAL BIDDERS, RETAIL INDIVIDUAL BIDDERS AND ELIGIBLE NRIS APPLYING ON A NON-REPATRIATION BASIS SYNDICATE MEMBER'S STAMP & CODE REGISTERED BROKERSOSHOPIARTA STAMP & CODE 1. NAME & CONTACT DETAILS OF SOLE / FIRST BIDDER Mr./Ms./Ms.L SEB-BROKER'S SLE-AGENT'S STAVP & CODE SCSB BRANCH STAMP & CODE Address L Email BANK BRANCH SERIAL NO. SCSB SERIALNO. Tel. No. (with STD code)/Mobile 2. PAN....
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.... Received from Mr./Ms./M/s. Telephone/Mobile Email Option I Option 2 Option 3 No. of Equity Shares Bid Price ASBABank A No UPI Id TEAR HERE Stamp & Signature of Syndicate Member / Registered Broker / SCSB/CDP/RTA Stamp & Signature of SCSB Branch Name of Sale/First Bidder Amount Blocked ( ASBA Bank Ale No API d. Bank Name & Branch. Important Note: Applicatan made using third part, UPI OASBABank Acalable to be ejected Bid cum Application Form No. Acknowledgement Slip for Bidder XYZ LIMITED Document 6 IN THE NATURE OF ABRIDGED PROSPECTUS MEMORANDUM CONTAINING SALIENT FEATURES OF THE RED HERRING PROSPECTUS BIDDER'S UNDERTAKING AND CONFIRMATION FOR BID CUM APPLICATION FORM (IN CASE OF A JOINT APPLICATION, THE CONFIRMATIONS, AUTHORISATIONS, UNDERTAKINGS AND REPRESENTATIONS MADE BY THE FIRST BIDDER WILL BE DEEMED TO HAVE BEEN MADE ON BEHALF OF ALL JOINT BIDDERS THE FIRST BIDDER SHALL BE LIABLE FOR ALL THE OBLIGATIONS ARISING OUT OF THE OFFER OF EQUITY SHARES) On the basis of the Red Heming Prespects dated xx, xxxx (the "RHP" filed with the Registrar of Companies of xxxx (the "RoC), General Information Document....
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.... amWe are applying for the said Equity Shares on my lour own behalf through NRO account on tonerpatriation basis I am'we are, or at any time the Equity Shares are purchased will be, the beneficial owner of such Equity Shares FOR QIB BIDDERS: We confirm that the Bid size raaximum Equity Shares applied for by us do not exceed the relevant regulatory approvals limits. We are not prohibited from accessing capital markets under related any order uling judgment of a regulators, judicial or any other authority, including Securities and Exchange Board of India (SEBI or under the provisions of any law, regulation or statio Further In accordance with ASBA process peovided in the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended SEBI ICDR Regulations and as disclosed in the RHP. I/We authors (a) the members of the Syndicate (in Specified Locations only) or the Registered Brokers (at Broker Centers) or the SCSBs or the KTAs (at Designated RTA Locations) or the CDPs (ar Designated CDPs Locations) as the case may be, to do all acts as are necessary to make the application in the Offer, including uploading myfour ....
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....ed other than as specified above 3. 6 Based on the PAN, OP ID and Chent ID provided by the Bidders, the Regisa ar to the Offer will obtain Demographic Details registered with depository participants to be used, among other things for Allotment, technical rejections on unblocking of ASBA Account Hence, Bidders are advised to inmediately update any change in their Demographic Details as appearing on the records of the Depository Participant to ensure accuracy of records Please note that failure to do se could result in failure in allotment of Equity Shares, delays in unblocking of ASBA Account at the Bidder's sole risk and neither the Syndicate or the Registered Bookers or the Registrar to the Offer or RTAs CDPs or the SCSBs nor the Company shall have any responsibility and undertake any liability for the same. Bid Lat and Price Band: The face value of Equity Shares is [] each The Price Band and the minimum Bid Let will be decided by the Company, the Promoter Selling Shareholders and the Investor Selling Shareholder in consultation with the Book Running Lead Managers the BRLMS) and the minimum Bid Lat will be decided by the Company in consultation with the BRL....
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....e NRI Hillers bidding on a non repatriation basis can obtain the Bid cum Application Fem from the Registered and Corporate Office of the Company or from ans of the mambers of the Syndicate or CDP's or RTAs or Registered Brokers from the Bidding Centres. Bidders to please ensure that SCSB where the ASBA Account is maintained has notified at least one branch in the location where Bid cant Application Fenus will be deposited by Designated letermediaries Please note that application made using third party UPI Id or ASBA Bank Are are liable to be rejected. âš«QIB and Nenasional Investors cannot use UPI mechanism to apply For Retail Individual Investors applying using UPI- Please ensure that your Bank is offering UPI facility for Public Issues Please mention UPI Id clearly in CAPITAL LETTERS only UMM cannot exceed 45 characters Please ensure that you are using your UPI Id only and not the UPI of any third party Only the first Bidder is required to sign the Bid cum Application For Revision Fors. Thumb impressions and signatures other than in the languages specified in the Eiglich Schedule to the Constitution of India must be attested by a Magistrate or ....
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....lated to upload of Bids submitted to the Syndicate RTAs Registered Bockers CDPs, as applicable the Bidders should contact the relevant Designated Intermediary XYZ LIMITED TEAR HERE COMPANY CONTACT DETAILS XYZ LIMITED Registered Officer xxx Tel xxx Fax sw Corporate Office xx Contact Perso Tel: scs Website xxx Corporate Identity Number: Fax www E-mail w REGISTRAR TO THE OFFER CONTACT DETAILS XXXXXXXX ******** XX Tel: +xxxx Fax: xXXX E-mail: wwwwwwwwwww Investor Grievance E-mail:wwwwwww Website: www Contact Person: SEBI Regid ration No. Document 7 XYZ LIMITED-INITIAL PUBLIC OFFER-R COMMON BID REVISION FORM Corporate Cos Con at Petan, 999 LECCO) Leccoy Fat Tel. www xxx coox Emsilceccosasse Website Corporate Identity Number secccoo To, LOGO The Board of Directors XYZ LIMITED 100% BOOK BUILT OFFER ISIN: XXXXXXXXX Bid cum Application Form No. FOR RESIDINE INDIAN INVESTORS INCLUDING RESIDENT QIES NOMESTITUTIONAL RIDDERS, RETAIL INDIVIDUAL FIDDERS AND ELIGIBLE NOT APPLUNG ON NON REPATRIATION BASIS SYNDICALE MEMBER'S STAMP & CODE REGISTERED BROKER/....
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....d Bid cum Application Form No. PAN of Sole / First Bidder Bank Name & Branch Received from Mr./Ms./Ms. Telephone/Mobile Email No of Equity Shares Bid Price Option 1 Option 2 SED BU Option 3 Stamp & Signature of SCSB Branch TEAR HERE Stamp & Signature of Syndicate Member Name of Sole/First Bidder Registered Broker / SCSB / CDP RTA Additional Amount Blocked () ASBA Bark Ak Ne UP Bank Name & Branch. Important Note: Applicationmade using thirdpart: UH 180 ASBA Bark At are liable to be njected. XYZ LIMITED Bid cum Application Form No. Acknowledgement Slip for Bidder Document 8 IN THE NATURE OF ABRIDGED PROSPECTUS MEMORANDUM CONTAINING SALIENT FEATURES OF THE RED HERRING PROSPECTUS BIDDER'S UNDERTAKING FOR REVISION FORM 'We fon behalf of joint applicants, if any) confirm that the Acknowledgement Slip for my/our Bids are enclosed for the revisions which are being requested. I/We agree to be bound by all the terms & conditions mentioned in the Bid cum Application Form submitted earlier by mulus. 1/We (en behalf of joint applicants, if any) authors you to reject this Bid Revision Form, in case any of....
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....ust he attested by a Magistrate or a Notary Public or a Special Executive Magistrate under official seal. If the first Bidder is not the account holder, ensure that the Bid cum Application Form is signed by the ASBA Account holder Signature of the ASBA Account holder is mandatory. Please note that application made using third party UPI Or ASBA Bank A/c are liable to be rejected QIB and Non Institutional Investors cannot use LP) mechanism to apply For Retail Individual Investors applying using UPI- Please mention that same UPI Id used in the Bid cum application form Please mention UPI id clearly in CAPITAL LETTERS only UPI Id cannot exceed 45 characters Please ensure that you are using your UPI Id only and not the UPI Id of any third party 7. Other Instructions: a. Revision to Bids must be made only in the prescribed Revision Form, as applicable: I. Revision Form must be completed in full, in BLOCK LETTERS in ENGLISH. Bidders should note that the Syndicate Member SCSBs Registered Brokers RTAS CDPS will not be liable for errors in data entry due to incomplete or illegible Revision Forms; c. Ensure that Acknowledgement Slip for your Bid and any other a....
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....0.000 Sach number of Equity Shares in multiples off Equity Shares so that Snch number of Equity Shares in moltiples of Such number of Equity Shares in multiples of [] Equity dhe Bid does not exceed the Offer, subject to applicable limits Equity Shares so that the Bid does not exceed the Shanes so that the Bid Amant does not exceed 300,000 Offer, subject to applicable limits Compulsorily in dematerialized form Equity Shares and in multiples of Equity Shares thereafter [•] Equity Shares and in multiples of one Equity Share thereafter One Equity Share • Equity Shares and in multiples of one Equity Share thereafter subject to availality in the Retail Category Public financial institutions specified in Section 272) of the Companies Resident Indian individuals. HUFs in the name of Resident Indian individuals. HUFs (in the name of the Kantai Act. FPls (other than category III FPIs) scheduled commercial banks. Karta), companies, corperate bodies. Eligible NRIs, and Elable NRIs mutual funds registered with the SEBI, venture capital funds registered scientific institutions, societies and trusts and any with SEBI, FVCI. Altemative Investment ....