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TMI BlogPOST- ISSUE OBLIGATIONSX X X X Extracts X X X X X X X X Extracts X X X X ..... ring report for all issues: The due date for this report shall be the 3rd day from the date of listing or 78 days from the date of closure of the subscription of the issue, whichever is earlier.) 7.2.2.2 3(The due dates for submitting post issue monitoring report in case of Rights issues): (a) 3-Day Post-Issue Monitoring Report: The due date for this report shall be the 3rd day from the date of closure of subscription of the issue. (b) 50-Day Post - Issue Monitoring Report: The due date for this report shall be the 50th day from the date of closure of subscription of the issue. 4(7.2.2.3 Due diligence certificate to be submitted with final post issue monitoring report The post issue lead merchant banker shall file a due diligence certificate in the format given in Schedule XVI-A along with the final post-issue monitoring report.) 7.3 Redressal of Investor Grievances 7.3.1 5(The Post - Issue Lead Merchant Banker shall actively associate himself with post-issue activities namely, allotment, refund, despatch and giving instructions to Self Certified Syndicate Banks and shall regularly monitor redressal of investor grievances arising therefrom.) 7.4 Co-ordination with I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lications Supported by Blocked Amount 10(), number, value and percentage of successful allottees for all applications including Applications Supported by Blocked Amount 11(), date of completion of despatch of refund orders /instructions to Self Certified Syndicate Banks by the Registrar, date of despatch of certificates and date of filing of listing application is released within 10 days from the date of completion of the various activities at least in an English National Daily with wide circulation, one Hindi National Paper and a Regional language daily circulated at the place where registered office of the issuer company is situated.) 7.5.2 Post-issue Lead Merchant Banker shall ensure that issuer company/ advisors/ brokers or any other agencies connected with the issue do not publish any advertisement stating that issue has been oversubscribed or indicating investors' response to the issue, during the period when the public issue is still open for subscription by the public. 7.5.3 Advertisement stating that "the subscription to the issue has been closed" may be issued after the actual closure of the issue. 7.6 Basis of Allotment 7.6.1 12(In a public issue of securi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... representative on the Governing Board of the Designated Stock Exchange.) 7.6.3 19(The basis of allotment shall be signed as correct by the Executive Director/Managing Director of the designated stock exchange and the public representative (where applicable) in addition to the lead merchant banker responsible for post issue activities and the Registrar to the Issue. The designated stock exchange shall invite the public representative on a rotation basis from out of the various public representatives on its governing board.) 7.7 Other Responsibilities 20(7.7.1 The lead merchant banker shall ensure that the despatch of share certificates/ refund orders/ 21() and demat credit is completed and the allotment and listing documents submitted to the stock exchanges within 2 working days of 22(the date of allotment.) 7.7.2 The post issue lead manager shall ensure that all steps for completion of the necessary formalities for listing and commencement of trading at all stock exchanges where the securities are to be listed are taken within 7 working days of finalisation of basis of allotment.) 7.7.3 Lead Merchant Banker shall ensure payment of interest to the applicants for delayed dispat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 (2001-2002) dated July 17, 2001 for "Rights Issues". 4 Inserted vide SEBI Circular No. SEBI/CFD/DIL/DIP/28/2007/29/11 dated November 29, 2007. 5 Substituted vide SEBI Circular No. SEBI/CFD/DIL/DIP/31/2008/30/7 dated July 30, 2008 for the following: "The Post - Issue Lead Merchant Banker shall actively associate himself with post-issue activities namely, allotment, refund and despatch and shall regularly monitor redressal of investor grievances arising therefrom." 6 Inserted vide SEBI Circular No. SEBI/CFD/DIL/DIP/31/2008/30/7 dated July 30, 2008. 7 Substituted vide SEBI Circular No. SEBI/CFD/DIL/DIP/31/2008/30/7 dated July 30, 2008 for the words "those accompanied by stockinvest" 8 Omitted the following clause vide SEBI Circular No. SEBI/CFD/DIL/DIP/12/2004/8/4 dated April 8, 2004: "Stock Invest The lead merchant banker shall ensure compliance with the instructions issued by the RBI on handling of stock invest by any person including Registrars." 9 Substituted vide SEBI Circular No. SEBI/CFD/DIL/DIP/31/2008/30/7 dated July 30, 2008 for the following: "Post-issue Lead Merchant Banker shall ensure that in all issues, advertisement giving details relating to oversubs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plied for) multiplied by the inverse of the oversubscription ratio as illustrated below: Total number of applicants in category of 100s - 1,500 Total number of shares applied for - 1,50,000 Number of times oversubscribed - 3 Proportionate allotment to category - 1,50,000 x 1/3 = 50,000 c) Number of the shares to be allotted to the successful allottees shall be arrived at on a proportionate basis i.e. total number of shares applied for by each applicant in that category multiplied by the inverse of the oversubscription ratio. Schedule XVIII of basis of allotment procedure may be referred to. Number of shares applied for by - 100 each applicant Number of times oversubscribed - 3 Proportionate allotment to each successful applicant - 100 x 1/3 = 33 (to be rounded off to 100) d) All the applications where the proportionate allotment works out to less than 100 shares per applicant, the allotment shall be made as follows: i. Each successful applicant shall be allotted a minimum of 100 securities; and ii. The successful applicants out of the total applicants for that category shall be determined by drawal of lots in such a manner that the total number of shares allotted in that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shares or debentures or the securities offered and ; ii) other investors including Corporate bodies/ institutions irrespective of the number of shares, debentures, etc. applied for. c) The unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall / may be made available for allotment to applicants in the other category, if so required. Explanation It is clarified that the words "a minimum of 50% of the public offer" used in sub-clause (a) above means that if the category of individual applicants upto 10 marketable lots was to be entitled to get 70% of the public offer in accordance with proportionate formula, the category should get 70%. If the category is entitled to get only 30% of the public offer in accordance with the proportionate allotment formula, there should be a reservation of a minimum of 50% of the net public offer." 17 Substituted vide SEBI Circular No. SEBI/CFD/DIL/DIP/12/2004/8/4 dated April 8, 2004 for "small individual applicants". 18 Substituted vide SEBI/CFD/DIL/DIP/Circular No. 11 dated August 14, 2003 for the following: "The drawl of lots (where required) to finalise the basis of allotment, shall be done ..... X X X X Extracts X X X X X X X X Extracts X X X X
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