TaxTMI 
TaxTMI 
Streamlining the Process of Public Issue of Equity Shares and Convertibles
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....he process of public issue of equity shares and convertibles, it has been decided, in consultation with the market participants - (i) to reduce the time taken for listing 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) facili....
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....imelines as specified in this circular. 2.5. All applications shall be stamped and thereby acknowledged by the intermediary at the time of receipt. Alerts by Stock Exchanges 2.6. Similar to the systems prevalent in 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 complet....
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....011 dated May 16, 2011; viii. CIR/CFD/DIL/12/2012 dated September 13, 2012; ix. CIR/CFD/DIL/13/2012 dated September 25, 2012; x. CIR/CFD/14/2012 dated October 04, 2012; xi. CIR/CFD/DIL/1/2013 dated January 02, 2013; and xii. CIR/CFD/DIL/4/2013 dated January 23, 2013. 7. This circular shall be applicable for all public issues opening 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, ....
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.... an issue and share transfer agent ('RTA') (whose name is mentioned on the website of the stock exchange as eligible for this activity) Issue opening date to issue closing date (where T is issue closing date) 2. The aforesaid intermediaries 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 by investors to SCSB: After accepting the form, SCSB shall capture and upload the relevant details in the electronic bidding system as specified by the stock exchange(s) and may begin blocking funds avail....
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.... for each of the above - mentioned fields) SCSBs to continue /begin blocking of funds. Designated branches of SCSBs may not accept schedule and applications after T+1 day. 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 T+1 5. Issuer, merchant banker and registrar to submit relevant documents to the stock exchange(s) except listing application, allotment details and demat credit and refund details for the purpose of listing permission. SCSBs to send confirmation of funds blocked (Final Certificate) to the registrar by end of the day. Registrar shall reconcile the compiled....