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TMI BlogStreamlining the Process of Public Issue of Equity Shares and ConvertiblesX X X X Extracts X X X X X X X X Extracts X X X X ..... been decided, in consultation with the market participants - (i) to reduce the time taken for listing after the closure of issue to 6 working days as against the present requirement of 12 working days, and (ii) to broad-base the reach of investors by substantially enhancing the points for submission of applications. In this regard, necessary amendments to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 have already been notified. 2. The operational details to implement the above are outlined below: 2.1. All the investors applying in a public issue shall use only Application Supported by Blocked Amount (ASBA) facility for making payment i.e. just writing their bank account numbers and authorising the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the intermediary at the time of receipt. Alerts by Stock Exchanges 2.6. Similar to the systems prevalent in case of secondary market transactions, the stock exchanges shall develop the systems to facilitate the investors to view the status of their public issue applications on their websites and sending the details of applications and allotments through SMS and E-mail alerts to the investors. Timelines 2.7. The revised indicative timelines for various activities are specified at Annexure-B to this circular. 2.8. All intermediaries shall co-ordinate with one another to ensure completion of listing of shares and commencement of trading by T+6. Other Requirements 2.9. Amount of commission payable to RTA / DP shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /2013 dated January 02, 2013; and xii. CIR/CFD/DIL/4/2013 dated January 23, 2013. 7. This circular shall be applicable for all public issues opening on or after January 01, 2016. 8. This circular is being issued in exercise of the powers under section 11 read with section 11A of the Securities and Exchange Board of India Act, 1992. 9. This circular is available on SEBI website at www.sebi.gov.in under the categories Legal Framework and Issues and Listing . Yours faithfully, Harini S Balaji General Manager +91-22-26449372 [email protected] Annexure-A Format for Submission of Details to Stock Exchanges Name of the RTA / DP: Registration No. Nodal Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tained ii. a syndicate member (or sub-syndicate member) iii. a stock broker registered with a recognised stock exchange (and whose name is mentioned on the website of the stock exchange as eligible for this activity) ( broker ) iv. a depository participant ( DP ) (whose name is mentioned on the website of the stock exchange as eligible for this activity) v. a registrar to an issue and share transfer agent ( RTA ) (whose name is mentioned on the website of the stock exchange as eligible for this activity) Issue opening date to issue closing date (where T is issue closing date) 2. The aforesaid intermediaries shall, at the time of receipt of application, give an ackn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id details from the stock exchanges by end of the day. Syndicate members, brokers, DPs and RTAs to forward a schedule as per format given below along with the application forms to designated branches of the respective SCSBs for blocking of funds. Field No. Details* 1. Symbol 2. Intermediary Code 3. Location Code 4. Application No. 5 Category ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ectronic bid details and prepare list of technical rejection cases. T+2 6. Finalisation of technical rejection and minutes of the meeting between issuer, lead manager, registrar. Registrar shall finalise the basis of allotment and submit it to the designated stock exchange for approval. Designated Stock Exchange(s) to approve the basis of allotment. Registrar to prepare funds transfer schedule based on approved basis of allotment. Registrar / Issuer to initiate corporate action to carry out lock-in for pre-issue capital held in depository system. Registrar and merchant banker to issue funds transfer instructions to SCSBs. T+3 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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