Applications with stockinvest to have equal opportunity of allotment - Companies Law - SE/4480/92,

SEBI Circular letter to Presidents and Chief Executives of Stock Exchanges bearing ref. : SE/4480/92, dated 29 ‑ 5 ‑ 1992. Subject:- Stockinvest Scheme ‑ Applications with stockinvest to have equal opportunity of allotment You are aware that with a view to helping the investors, a new instrument namely STOCKINVEST has been introduced for enabling investors to subscribe to Public Issues. However, we have received reports that there is a feeling among the underwriters and brokers that the applications with STOCKINVEST may be discriminated in respect of chances of allotment compared to the other applications, as according to them, STOCKINVEST applications are to be sorted and tabulated separately. Since the allotment securities are made by the companies in consultation with the Stock Exchanges, we advise you to ensure that the STOCKINVEST applications have the same opportunity as the applications made through cheques, demand drafts and cash payments and leave no chance for any discriminatory treatment.