TaxTMI 
TaxTMI 
Streamlining the Process of Public Issue of Equity Shares and Convertibles
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....isting after the closure of issue to 6 working days as against the present requirement of 12 working days, and (ii) to broad-base the reach of investors by substantially enhancing the points for submission of applications. In this regard, necessary amendments to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 have already been notified. 2. The operational details to implement the above are outlined below: 2.1. All the investors applying in a public issue shall use only Application Supported by Blocked Amount (ASBA) facility for making payment i.e. just writing their bank account numbers and authorising the banks to make payment in case of allotment by signing the application forms, thus obviating the need of ....
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....n case of secondary market transactions, the stock exchanges shall develop the systems to facilitate the investors to view the status of their public issue applications on their websites and sending the details of applications and allotments through SMS and E-mail alerts to the investors. Timelines 2.7. The revised indicative timelines for various activities are specified at Annexure-B to this circular. 2.8. All intermediaries shall co-ordinate with one another to ensure completion of listing of shares and commencement of trading by T+6. Other Requirements 2.9. Amount of commission payable to RTA / DP shall be determined on the basis of applications which have been considered eligible for the purpose of allotment. In order to dete....
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....pening on or after January 01, 2016. 8. This circular is being issued in exercise of the powers under section 11 read with section 11A of the Securities and Exchange Board of India Act, 1992. 9. This circular is available on SEBI website at www.sebi.gov.in under the categories "Legal Framework" and "Issues and Listing". Yours faithfully, Harini S Balaji General Manager +91-22-26449372 [email protected] Annexure-A Format for Submission of Details to Stock Exchanges Name of the RTA / DP: Registration No. Nodal Officer Name : xxx Designation : xxx Address : xxx Telephone : xxx Mobile : xxx E-mail : xxx Sl. No State City Office Address Contact Person Contact Number Fax E-mail 1. xxx xxx xxx xxx xxx xxx ....
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....ge(s) and may begin blocking funds available in the bank account specified in the form, to the extent of the application money specified. (ii) For applications submitted by investors to other intermediaries: After accepting the application form, respective intermediary shall capture and upload the relevant details in the electronic bidding system of stock exchange(s). Stock exchange(s) shall validate the electronic bid details with depository's records for DP ID, Client ID and PAN, by the end of each bidding day and bring 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 in the bid de....
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....reinafter referred to as the "reconciled data"). Registrar shall reject multiple applications determined as 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 6. 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 ....