Processing of ASBA applications in Public Issue of Equity Shares and Convertibles

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.... Brokers Bankers to an Issue (Self-Certified Syndicate Banks - SCSBs) National Payments Corporation of India (NPCI) Dear Sir / Madam, Sub: Processing of ASBA applications in Public Issue of Equity Shares and Convertibles 1. SEBI has prescribed the facility of Application Supported by Blocked Amount (ASBA) in Public Issues for all categories of investors except Qualified Institutional Buyers (....

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.... streamline the bidding process and to ensure the orderly development of securities market, a need has been felt to implement the ASBA process in line with the aforementioned circulars. 4. The ASBA applications in Public Issues shall be processed only after the application monies are blocked in the investor's bank accounts. Accordingly, all intermediaries / market infrastructure institutions are ....