TaxTMI 
TaxTMI 
Applications Supported by Blocked Amount (ASBA) facility in public issues and rights issues.
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....ed in clause (d) of sub‐regulation (1) of regulation 2 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. b. Self Certified Syndicate Bank (SCSB): SCSB has the same meaning as given to it in clause (zi) of sub‐regulation (1) of regulation 2 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. A bank desirous of being a SCSB in ASBA Phase II facility, shall submit a certificate to SEBI as per the format given in Annexure I, for inclusion of its name in SEBI's list of SCSBs. A SCSB shall identify its Designated Branches (DBs) at which an ASBA investor shall submit ASBA and shall also identify the Controlling Branch (CB) which shall act as a coordinating branch for the Registrar to the Issue, Stock Exchanges and Merchant Bankers. The SCSB, its DBs and CB shall continue to act as such, for all public and rights issues to which ASBA facility is applicable. The SCSB may identify new DBs for the purpose of ASBA facility and intimate details of the same to SEBI, after which SEBI will add the DBs to the list of SCSBs maintained by it. The SCSB shall communicate the following details to Stock Exchanges for making it availa....
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....n record date to apply through ASBA mode by selecting the option of ASBA either (i) in Part A of the application form of rights issue, or (ii) in the plain paper application as to whether they desire to avail of the ASBA option, to the Self Certified Syndicate Bank (SCSB) with whom the bank account to be blocked, is maintained. (iii) Subject to (ii) above, the ASBA process from the time of submission of application by the applicants till transfer of shares in the depository account of the investors, as specified for public issues, shall be followed in the case of rights issues also to the extent relevant for rights issue. The role and responsibilities of self certified syndicate banks, stock exchanges, registrars and merchant bankers for public issues, shall be applicable mutatis mutandis to rights issue also. e. Obligations of the Issuer: The issuer shall ensure that adequate arrangements are made by the Registrar to the Issue to obtain information about all ASBAs and to treat ASBA similar to non‐ASBA applications while finalizing the basis of allotment, as per the procedure specified in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. 3. T....
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....ircular No. SEBI/CFD/DIL/DIP/38/2009/08/20 dated August 20, 2009, on ASBA, stand withdrawn with effect from the date of this circular. 10. This circular is available on SEBI website at www.sebi.gov.in under the categories "Legal Framework" and "Issues and Listing". Yours faithfully, Neelam Bhardwaj Encl.: Annexure I - Certification by Self Certified Syndicate Banks (SCSBs) Annexure II - Details of Applications Supported by Blocked Amount (ASBA) facility. Annexure III - Role and responsibilities of the intermediaries. Annexure I CERTIFICATION BY SELF CERTIFIED SYNDICATE BANKS (SCSBs) FOR IMPLEMENTATION OF ASBA PHASE II All banks which are desirous of acting as SCSBs for ASBA facility w.e.f. January 1, 2010, are required to submit to SEBI a certificate as per the format provided hereunder. Upon receipt of this certificate, the bank's name shall be included by SEBI in the list of eligible SCSBs who can accept application from investors w.e.f. January 1, 2010. Format of certificate to be submitted by SCSBs "(i) We, ___________, hold a valid certificate of registration as a Banker to an Issue under the SEBI (Bankers to an Issue) Regulatio....
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....o capture data, block or release funds, etc. (vii) We have identified our Controlling Branch and Designated Branch(es), the names and contact details of which are enclosed herewith. (viii) We have identified the following official of our bank as the nodal officer for the purpose of ASBA facility: Name: _______________________ Designation: __________________ Branch: ______________________ Address: _____________________ Phone number(s): ______________ Fax Number: __________________ E‐mail ID: _____________________ (ix) We undertake to inform changes, if any, in the aforesaid details furnished to SEBI, on as and when basis. I, on behalf of ____________, hereby confirm that we fulfil / undertake to fulfil all the conditions stated above for becoming a SCSB. Name and Signature of Authorised official of the Bank Annexure II DETAILS OF APPLICATIONS SUPPORTED BY BLOCKED AMOUNT (ASBA) FACILITY The ASBA facility is presented in a tabular form as under: Sr. No. Details of ASBA facility Timeline/ Due date 1. An ASBA investor, intending to subscribe to a public, shall submit a completed ASBA form1 to a Self Certified Sy....
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....ory -wise the following aggregate information as per the format specified by the registrar to the issue, to the Registrar to the Issue after closure of the bidding period: (i) Total number of ASBAs uploaded by the SCSB (ii) Total number of shares and total amount blocked against the uploaded ASBAs. T+1 (where T stands for closing date of the bidding / offer period) 9. The Registrar to the Issue shall reconcile the compiled data received from the Stock Exchange(s) (as explained in serial number 7 above) and all SCSBs (as explained in serial number 8 above) (hereinafter referred to as the "reconciled data"). T to T+11 10. The Registrar to the Issue shall then match the reconciled data with the depository's database for correctness of DP ID, Client ID and PAN. In case any DP ID, Client ID or PAN mentioned in the bid file for ASBAs does not match with the one available in the depository's database, such ASBA shall be rejected by the Registrar. 11. The Registrar to the Issue shall inform each SCSB about errors, if any, in the bid details, along with an advice to send the rectified data within the time as specified by the Registrar. 12. In case an A....
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....or each bid b. Bid rate for each bid. 3. Bank Account Number of the account with the SCSB, in which funds to the extent of application money shall be blocked. 4. The following confirmations/ declarations from the ASBA investor: (i) That he/ she is an ASBA investor as per the applicable provisions of the SEBI (Iissue of Capital and Disclosure Requirements) Regulations, 2009. (ii) That in accordance with the ASBA facility provided in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and as disclosed in the Red Herring Prospectus, the ASBA investor has - a. authorised the SCSB to do all acts as are necessary to make an application in the issue of the company, including uploading of his/ her bid, blocking or unblocking of funds in the bank account maintained with the SCSB specified in the ASBA, transfer of funds to the issuer's account designated for this purpose on receipt of instruction from the Registrar to the Issue after finalisation of the basis of allotment entitling the ASBA investor to receive shares on such transfer of funds, etc.; b. authorised the Registrar to the Issue to issue instructions to the S....
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....m of the Stock Exchange(s) unless - (i) it has received the ASBA in a physical or electronic form; and (ii) it has blocked the application money in the bank account specified in the ASBA or has systems to ensure that Electronic ASBAs are accepted in the system only after blocking of the adequate application money in the relevant bank account opened with it. 7. SCSB shall ensure that the details of a particular ASBA are uploaded only once in the electronic bidding system of any one of the Stock Exchanges. SCSB shall be solely responsible for the completion and accuracy of all details entered/ uploaded on the electronic bidding system of the Stock Exchange(s). 8. In case of withdrawal of bids by ASBA investors during the bidding period, SCSB shall ensure deletion of the withdrawn ASBA from the electronic bidding system of the Stock Exchange(s) and unblocking of funds in the relevant bank account within the timelines specified in the ASBA facility. 9. SCSB shall send the following aggregate information as per the format specified by the registrar to the issue, to the Registrar to the Issue after the closure of the bidding period, within the timelines specifi....
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....lay in capturing of data, blocking or unblocking of bank accounts, etc. are satisfactorily redressed. 17. SCSB shall be liable for all its omissions and commissions in discharging its responsibilities in the ASBA facility. (II) Role and Responsibilities of Registrar to the Issue Role and responsibilities of Registrar to the Issue shall include the following: 1. Registrar to the Issue shall obtain the electronic bid data (including the Application Supported by Blocked Amount (ASBA) bid data) from the Stock Exchange(s) and match the DP ID, Client ID and PAN specified in the electronic bid file with the depository's database, for the purpose of acceptance of applications and finalisation of the basis of allotment. 2. Registrar to the issue shall intimate before opening of the issue the basis of commission payable to SCSBs, the bid/ issue opening and closing date/time, including details of revision in price band/ floor price/ bidding period, if any to SCSBs. 3. Registrar to the Issue shall inform each Self Certified Syndicate Bank (SCSB) about errors, if any, in the bid details, along with an advice to send the rectified data within a specific date, which shall be spe....
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....8208;application forms in all Initial public issues with single payment option. 2. The pre‐issue merchant banker(s) shall ensure that appropriate disclosures/ instructions are given regarding the ASBA facility in the Red Herring Prospectus and abridged prospectus and in application forms, to enable investors to understand and apply through the ASBA facility. 3. The pre‐issue merchant banker(s) shall ensure that sufficient number of Physical ASBA forms are printed and are made available to all SCSBs. Further, it shall ensure that SCSBs are also provided with a soft copy of the abridged prospectus/ prospectus. 4. The pre‐issue merchant banker(s) shall intimate before opening of the issue the basis of commission payable to SCSBs, the bid/ issue opening and closing date/ time, including details of revision in price band/ floor price/ bidding period, if any to SCSBs through Registrar to Issues. 5. In case of failure/ withdrawal of the issue, the pre‐issue merchant banker(s) shall inform SCSBs through Registrar to Issues regarding the same. 6. The post‐issue merchant banker(s) shall inform the Registrar to the Issue, the date by which subscrip....