Application Supported by Blocked Amount (ASBA) facility
Summary
SEBI modifies previous circulars to facilitate the acceptance of ASBA forms from investors at broker centers across stock exchanges. Stock Exchanges must disclose and update their broker center locations, while Self Certified Syndicate Banks must designate branches for form submission by March 1, 2013. Merchant bankers are required to make appropriate disclosures in offer documents regarding this expanded facility.
Text
All the SCSBs having a branch in the location of broker centers of stock exchanges... are required to name at least one branch before March 1, 2013, where syndicate / sub-syndicate members/ non-syndicate members can submit the ASBA forms.
The Stock Exchanges shall ensure that the details of the locations of their broker centers are disclosed on their websites and regularly updated in terms of Circular dated October 4, 2012.
Merchant Bankers shall ensure that appropriate disclosures are made in the offer document in this regard.
All intermediaries are directed to comply with the instructions contained in this circular.
This circular shall be applicable for Red Herring Prospectus/ Prospectus / Letter of Offer filed with Registrar of Companies/ Stock Exchanges, as the case may be, on or after March 1, 2013.
This circular is issued in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992.
Source: SecMarx — Application Supported by Blocked Amount (ASBA) facility. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.