SEBI extends 'applications supported by blocked amount' facility to all public issues
13 July 2010
The Securities and Exchange Board of India (SEBI) has extended the 'applications supported by blocked amount' (ASBA) facility to all public issues with effect from 19 July 2010.
The bid-cum application forms are being available for download and printing, from websites of the stock exchanges which provide electronic interface for ASBA facility, ie, the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The ASBA forms so downloaded would have a unique application number and can be used for making ASBA applications in public issues, SEBI said in its directive to stock exchanges, merchant bankers and other intermediaries.
In order that the stock exchanges fill up essential details of an issue, the merchant banker to the issue should ensure that details regarding the company name, type of issue, issue opening date and closing date, price and price band, bid lot and other relevant details are provided to the stock exchanges at least two days before opening of the public issue.
The company should also make available a soft copy of the prospectus/abridged prospectus to the stock exchanges.
The stock exchanges on their part, should ensure that: