1.

An ASBA investor, intending to subscribe to a book built public issue, shall submit a completed ASBA form1 to a Self Certified Syndicate Bank (SCSB) , with whom the bank account to be blocked, is maintained, through one of the following modes -

(i)  Submit the form physically with the Designated Branches (DBs) of the SCSB (“Physical ASBA”)
or

(ii) Submit the form electronically through the internet banking facility offered by the SCSB (“Electronic ASBA”).

Bidding

period

 

2.

The SCSB shall give an acknowledgement specifying the application number to the ASBA investor, as a proof of having accepted his/ her ASBA in a physical or electronic mode.

Bidding

period

 

3.

If the bank account specified in the ASBA does not have sufficient credit balance to meet the application money, the ASBA shall be rejected by the SCSB.

Bidding

period

 

4. A.

After accepting a Physical ASBA, the SCSB shall block funds available in the bank account specified in the Physical ASBA, to the extent of the application money specified in the ASBA. The SCSB shall then capture/upload the following details in the electronic bidding system provided by the Stock Exchange(s) for the particular public issue:

(i) Application number

(ii) DP ID, Client ID

(iii) Bid Quantity

(iv) PAN

 

 

 

 

Bidding

period

  B.

In case of an Electronic ASBA, the ASBA investor himself/ herself shall fill in all the abovementioned details, except the application number which shall be system generated. The SCSB shall thereafter upload all the abovementioned details in the electronic bidding system provided by the Stock Exchange(s).

5.

The SCSB (Controlling Branch (CB) or DBs) shall generate a Transaction Registration Slip/ Order number, confirming upload of ASBA details in the electronic bidding system of the Stock Exchange(s). The Transaction Registration Slip/ Order number shall be given to the ASBA investor as a proof of uploading the details of ASBA, only on demand.

Bidding

period

6.

In case an ASBA investor wants to withdraw his/ her ASBA during the bidding 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submit his/ her withdrawal request to the SCSB, which shall do the necessary, including deletion of details of the withdrawn ASBA from the electronic bidding system of the Stock Exchange(s) and unblocking of funds in the relevant bank account.

Bidding

period

 

7.

The Stock Exchange(s) shall make available the updated electronic bid file to the Registrar to the Issue.

Bidding

period

8.

The SCSB shall send the following aggregate information to the Registrar to the Issue after closure of the bidding period:

(i)  Total number of ASBAs uploaded by the SCSB

(ii) Total number of shares and total amount blocked against the uploaded ASBAs.

T+1

(where T

stands for

closing date

of the

bidding

period)

9.

The Registrar to the Issue shall reconcile the compiled data received from the Stock Exchange(s) (as explained in para 7 above) and all SCSBs (as explained in para 8 above) (hereinafter referred to as the “reconciled data”).

 

 

 

 

 

 

 

 

 

T to T+11

10.

The Registrar to the Issue shall then match the reconciled data with the depository’s database for correctness of DP ID, Client ID and PAN. In case any DP ID, Client ID or PAN mentioned in the bid file for ASBAs does not match with the one available in the depository’s database, such ASBA shall be rejected by the Registrar.

11.

The Registrar to the Issue shall inform each SCSB about errors, if any, in the bid details, along with an advice to send the rectified data within the time as specified by the Registrar.

12.

In case an ASBA investor wants to withdraw his/her ASBA after the bid closing date, he/ she shall submit the withdrawal request to the Registrar to the Issue. The Registrar shall delete the withdrawn bid from the bid file.

13.

The Registrar to the Issue shall reject multiple ASBAs determined as such, based on common PAN.

14.

The Registrar to the Issue shall finalise the basis of allotment and submit it to the Designated Stock Exchange for approval.

T+12

 

15.

Once the basis of allotment is approved by the Designated Stock Exchange, the Registrar to the Issue shall provide the following details to the CB of each SCSB, along with instructions to unblock the relevant bank accounts and transfer the requisite money to the issuer’s account within the timelines specified in the ASBA process:

(i)   Number of shares to be allotted against each valid ASBA

(ii)  Amount to be transferred from the relevant bank account   to the issuer’s account, for each valid ASBA

(iii) The date by which the funds referred to in sub-para (ii) above, shall be transferred to the issuer’s account

(iv) Details of rejected ASBAs, if any, along with reasons for rejection and details of withdrawn/ unsuccessful ASBAs, if any, to enable SCSBs to unblock the respective bank accounts.

T+13

 

16.

SCSBs shall unblock the relevant bank accounts for:

(i)  Transfer of requisite money to the issuer’s account 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+14

 

17.

The Issuer shall make the allotment

 

T+15

18.

The Registrar to the Issue shall credit the shares to the demat account of the successful ASBA investors.

T+15