Applications Supported by Blocked Amount (ASBA) facility in public issues
Summary
This circular mandates the availability of ASBA bid-cum application forms for download from BSE and NSE websites. It requires Merchant Bankers to provide essential issue details to Stock Exchanges at least two days prior to the issue opening. The document outlines specific compliance obligations for Stock Exchanges, Merchant Bankers, and SCSBs regarding form generation and hyperlinking. This section presents the Bid Cum Application Form for XYZ Limited's public issue, detailing sections for company information, syndicate member codes, and investor category selection. It outlines requirements for bid details including price bands, lot sizes, and specific instructions for retail bidders regarding cut-off bids. The form includes an undertaking by the ASBA investor authorizing the SCSB to block funds and transfer them upon allotment, along with a bidder acknowledgment copy. This section outlines the instructions for completing bid forms, detailing public issue specifics and investor categories. It mandates accurate demat account and PAN details to prevent application rejection. The text further explains bidding options, price blocking mechanisms, and procedures for bid revisions. This
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It has been decided to make ASBA bid-cum application forms available for download and printing, from websites of the Stock Exchanges which provide electronic interface for ASBA facility i.e. Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
In order that the Stock Exchanges fill up essential details of an issue, the Merchant Banker to the issue shall ensure that the following details are provided to the Stock Exchanges at least two days before opening of the public issue: a. Company Name b. Type of issue c. Issue opening date d. Issue closing date e. Price/ price band f. Bid lot g. Other relevant details h. Soft copy of prospectus/abridged prospectus
The details furnished by the Merchant Banker to the issue are duly filled in the ASBA form for a specific public issue, before making the same available on websites.
The ASBA form for a specific public issue is made available on the websites of the Stock Exchanges at least one day before opening of the public issue.
A unique application number for an issue is generated for every ASBA form downloaded and printed from the websites.
Investors have online access to soft copy of the abridged prospectus/prospectus of the public issue.
For revisions of bids, investors can take print of a bid revision form.
Merchant Bankers and SCSBs are directed to provide a hyperlink to BSE or NSE websites for this facility on their websites.
All intermediaries are directed to comply with the instructions contained in this circular.
This circular shall be applicable to all public issues opening on or after July 19, 2010.
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.
SCSB [name and code], IFSC CODE [11 digit code], Bid CUM APPLICATION NUMBER [auto generated as per logical sequence], SYNDICATE MEMBER CODE [name/ code], BROKER / AGENT CODE [name/ code], SUB-BROKER/ SUB-AGENT CODE [name/ code]
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Source: SecMarx — Applications Supported by Blocked Amount (ASBA) facility in public issues. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.