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TMI BlogReduction in time between issue closure and listingX X X X Extracts X X X X X X X X Extracts X X X X ..... exchanges. In order that the data so captured is accurate, syndicate members may be permitted an additional day to amend some of the data fields entered by them in the electronic bidding system. 4. It is to be noted that syndicate members shall be responsible for any error in the bid details uploaded by them. In case of apparent data entry error by either syndicate member or collecting bank in entering the application number in their respective schedules other things remaining unchanged, the application may be considered as valid and such exceptions may be recorded in minutes of the meeting submitted to stock exchange(s). In the event of mistake in capturing the application number by either the syndicate member or collecting bank leading to rejection of application, the registrar may identify based on the bid form, the entity responsible for the error. Valid records in electronic file will be those for which money is received. 5. This circular contains indicative timelines for the various activities in the issue process. The non-ASBA process in this regard is given in Annexure I of the circular. Since the ASBA process also needs to be revised pursuant to the reduced timeline ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uty General Manager +91-22-26449612 [email protected] Annexure I Indicative timeline schedule for various activities in the proposed issue process(Non-ASBA) Sl. No. Details of Activities Due Date (Working Day) 1. Syndicate members upload bid details in the electronic bidding system of stock exchange(s). Syndicate members need to ensure that required documents are attached with the application form. Issue opening date to issue closing date (where T is issue closing date) 2. Issue closes. T 3. Stock exchange(s) to allow syndicate members to undertake modification of selected fields in the bid details already uploaded. Registrar to get the electronic bid details from the stock exchanges at the end of the day. T+1 4. Issuer, merchant banker and registrar to submit relevant documents to the stock exchange(s) except listing application, allotment details and demat credit an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Registrar and merchant banker to issue funds transfer instructions to collecting banks. Collecting banks to credit the funds in Public Issue Account of the issuer and confirm the same. Issuer to make allotment. Registrar to give instruction to depositories for credit of shares to successful allottees. Registrar to receive confirmation for pre-issue capital lock-in from depositories. T+9 12. Issuer and registrar to file allotment details with designated stock exchange(s) and confirm all formalities are completed except demat credit and refund. Registrar to complete refund dispatch. Registrar to issue bank-wise data of allottees, allotted amount and refund amount to collecting banks. T+10 13. Registrar to receive confirmation of demat credit from depositories and submit the same to the stock exchange(s). Issuer and registrar to file confirmation of demat credit and refund dispatch with stock exchange(s). Issuer to make a listing application to stock exchange(s) and stock exchanges to give listing and trading permission. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eafter upload all the details specified by the stock exchange(s). -do 5. The SCSB (Controlling Branch (CB) or DBs) shall provide Transaction Registration Slip(s)/ Order number(s), confirming upload of ASBA details in the electronic bidding system of the stock exchange. The Transaction Registration Slip(s)/ Order number(s) shall be provided to the ASBA investor as a proof of uploading the details of ASBA, only on demand. -do 6. In case an ASBA investor wants to withdraw his/ her ASBA during the bidding/ offer period, he/ she shall submit his/ her withdrawal request to the SCSB, which shall do the necessary, including deletion of details of the withdrawn ASBA from the electronic bidding system of the stock exchange(s) and unblocking of funds in the relevant bank account. -do 7. Stock exchange to allow SCSBs to undertake modification of selected fields in the bid details already uploaded Registrar to get the electronic bid details from the stock exchanges at the end of the day. T+1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. T+8 15. SCSBs shall unblock the relevant bank accounts for: (i) Transfer of requisite money to the issuer s account designated for this purpose against each valid ASBA. (ii) Withdrawn/ rejected/ unsuccessful ASBAs. The CB of each SCSB shall confirm the transfer of requisite money against each successful ASBA to the Registrar to the Issue T+9 16. The Issuer shall make the allotment. Registrar to give instruction to depositories for credit of shares to successful allottees. T+9 17. Issuer and registrar to file allotment details with Designated Stock Exchange and confirm all formalities are complete except demat credit. T+10 18. Registrar to receive confirmation of demat credit from depositories and submit the same to the stock exchange(s). Issuer and registrar to file confirmation of demat credit and refund dispatch with stock exchange(s). Issuer to make a listing application to stock exchange(s) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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