Contents of Application-Cum-Bidding Form and Manner of disclosure
Summary
SEBI standardized the Application-Cum-Bidding Form to ensure uniformity and investor friendliness for both ASBA and Non-ASBA applicants. The circular mandates specific formatting, including A4 booklet size, color-coded forms based on applicant status, and an eight-digit serial application number system. Intermediaries are directed to comply with these instructions for prospectuses filed on or after November 01, 2011.
Text
The form has been standardized and it has been decided that henceforth there would only be a single form for ASBA and Non-ASBA applicants. It has also been decided that the Application-Cum-Bidding Form (accompanied with abridged prospectus) would be printed in a booklet form of A4 size paper.
In order to ensure uniformity and to facilitate easier identification, it has been decided to standardize the colour of the Application-Cum-Bidding Form as under: White form for Resident Indian, Eligible NRIs applying on a non repatriation basis; Blue form for Eligible NRIs, FVCIs, FIIs... on a repatriation basis
All forms shall henceforth carry eight digit application numbers which shall be serially numbered. Serial number may be system generated or stamped with automatic numbering machine and the forms should be date and time stamped at the bidding centers.
signature of only the first bidder would be required. First bidder would be deemed to have signed on behalf of joint holders and would give requisite confirmation(s) to that effect.
Syndicate Member/SCSB to note that additional provision for stamp of broker/SCSB Branch has been made in the main application form. The stamping shall be done only after bid has been uploaded.
All intermediaries to note that no changes shall be carried out in spacing, placement or in data fields in the Main Application Form and Bid Revision Application Form.
All concerned intermediaries are directed to comply with the instructions contained in this circular.
This circular shall be applicable on Red Herring Prospectus/Prospectus filed with Registrar of Companies on or after November 01, 2011.
Top of the application form shall have a Colored identifier strap incorporating the name of the issuer, ISIN number & type of form (Repatriation/Non-Repatriation Form).
Columns for Bid Options (Option 1, Option 2 or Option 3), Number of equity shares bid, Price per equity shares (sub-columns for Bid price, discount(if any) and Net price)
Definition of Bid i.e. bid should be defined as ‘indication to make an offer’ and not as ‘an offer’.
Source: SecMarx — Contents of Application-Cum-Bidding Form and Manner of disclosure. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.