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TMI BlogSystem for Making Application to Public issue of Debt SecuritiesX X X X Extracts X X X X X X X X Extracts X X X X ..... above, in order to facilitate a system for making online applications for public issue of debt securities and to reduce the timelines of the issue process for public issue of debt securities, it has been decided to: a. Extend ASBA facility to public issues of debt securities; and b. Provide option for subscribing to debt securities through an online internet interface with a facility to make online payment. c. Apply the timelines for the issue process as provided in SEBI Circular CIR/CFD/DIL/1/2011 dated April 29, 2011 or as notified by SEBI from time to time. 4. The detailed procedure for providing the above facilities is laid out in Annexure to this circular. The circular shall be applicable with immediate subject to putting in place necessary systems and infrastructure by the stock exchanges. 5. Recognized Stock Exchanges are directed to: a. Comply with the conditions laid down in this circular b. Put in place necessary systems and infrastructure for implementation of this circular. c. Make consequential changes, if any, to the bye-laws of the Exchange as may be applicable and necessary. d. Communicate to member brokers/ sub-brokers and create awareness amongst t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he application form. 2.1.5. For compliance with KYC requirements, the interface shall rely on the Depository Participant ID, Beneficiary Owner Account No which shall be validated online from the Depositories. 2.1.6. The investor shall make payment for the debt securities through the payment gateway provided by the online interface. The exchange shall arrange to send SMS/ email confirmation regarding receipt of funds to the investor. 2.1.7. On successful submission of the application form, a unique acknowledgement number shall be generated. 2.1.8. Investors shall be able to cancel their application based upon the unique acknowledgement number. This unique acknowledgement number shall be quoted by the applicant for their grievances, if any. 2.1.9. All online payments shall be routed to the Escrow Account of the issuer. 2.1.10. Upon allotment, the Registrar shall credit securities to the demat account of the applicant and in case of refund, the refund amount shall be credited directly to the investor's bank account. 2.1.11. Optional facility may be provided to the applicant for selecting broker name and broker code, if any, of the broker who referred the issue to the applicant. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... purpose of allotment and reconciliations of funds received. 2.3.7. The Registrar shall credit the securities in the demat account of successful allottees. 2.3.8. The Registrar shall give refund amount or excess application amount to the investor directly as per bank account details provided in the demat account of the applicant. 2.4. Applications for allotment in physical form through Lead Manager/Syndicate / Sub Syndicate Member or Trading Member 2.4.1. Issuer may also provide facility for making applications in physical form for investors who do not have demat accounts. 2.4.2. For allotment in physical mode, the applicant shall required to comply with KYC norms specified by SEBI by submitting documents for identity and address proof. 2.4.3. Such applications shall be collected by the Lead Manager, Syndicate/Sub Syndicate member or Trading member who shall 2.4.3.1. verify and check required KYC documents submitted by the investor along with the application 2.4.3.2. upload application details required for allotment on the stock exchange platform. 2.4.3.3. provide acknowledgment of the application to the investor. 2.4.4. The application along with payment instrument favo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as invalid application by the Registrar. 3.2.5. The Registrar shall credit securities/dispatch certificates to all valid allottees 3.2.6. The Registrar shall ensure refund of application amount or excess application amount in the bank account of the applicant as stated in its demat account. 3.3. Stock Exchange 3.3.1. Stock Exchanges shall provide a platform for making applications through 3.3.1.1. Syndicate Member/ Sub Syndicate Member / Trading Member of stock exchange(s) 3.3.1.2. Web-enabled direct applications from investors with Online Payment Facility 3.3.2. The on-line web enabled platform shall provide 3.3.2.1. all appropriate fields, required for public issue of debt securities, as per SEBI Cir No. IMD/DF-1/19/2012 dated July 25, 2012. 3.3.2.2. issue opening/ closing date. 3.3.2.3. facility for generation of acknowledgement number. 3.3.2.4. validation of DP ID, Client ID and PAN entered in the online system with the Depositories database. 3.3.2.5. generate an issue specific code from the on-line platform, so that participants on the online platform do not face any problem in segregating the ASBA issue-wise. 3.3.2.6. providing facilities of online payment by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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