SCSBs have to ensure that not more than Five (5) applications can be made from a bank account per issue.Learn More How can the Registrar reconcile the data on ASBA Bids in case of public issues since the Registrar does not get the application in case of ASBA?
Registrar will do the reconciliation based on data received from Stock Exchanges and the aggregate data received from SCSBs after closure of the issue regarding total number ofbids uploaded, the total number of shares applied for in such uploaded bids and total amount blocked for such uploaded bids.Learn More Does SCSB have the discretion to select issues where it will provide service of ASBA?
No. Once a bank is included in the list of SCSBs maintained by SEBI, it shall act as SCSB for all issues to come where ASBA is applicable.Learn More What is the role and responsibility of the Controlling Branch (CB) of SCSB?
CB is expected to act as a central point of co‐ordination for various intermediaries with SCSB i.e. Stock Exchanges, Registrar and Merchant Bankers.Learn More What is expected to be done by the SCSB, in case the investor withdraws his ASBA bid during the bidding period or after the bid closure in case of public issues?
ASBA investor interested in withdrawing his/her application during the bidding process will approach the SCSB and request for deletion of the bids. SCSB will do the necessary to delete the bids from electronic bidding system and unblock the bank account. However, once the bidding period is over, ASBA investor will write to the Registrar giving …Learn More What records a SCSB is required to keep in regard to ASBA facility?
Electronic record of ASBA uploaded, account/amount blocked and unblocked. ASBA physical forms may be retained for a period of 6 months with SCSB for redressing complaints if any, of ASBA investor and thereafter the same may be sent to the issuer.Learn More Will the investor get a confirmation from the Stock Exchanges on upload of bids in case of public issues?
Yes, Stock Exchange electronic bidding system will provide for generation of order number which can confirm the uploading of bids. These order number as well as application number, will help SCSB as well as the investors in tracking their application. However, in the case of Rights issues, for the time being, the application data is …Learn More Is it mandatory that only Designated Branch (DB) which accepts the ASBA has to upload the bids in the Electronic Bidding System?
No, it is not mandatory. Depending upon the internal comfort and system of each bank, it is possible for DBs to collect applications, block the amount and then transfer to Controlling Branch (CB) for centralized uploading or DBs to only collect applications and upload directly. It may please be noted that as far as investors …Learn More What data/details a SCSB is required to send to the Stock exchanges and Registrar?
SCSB is required to upload details like Application number, DP ID, Client ID, Bid Quantity, PAN from ASBA form. In case of an Electronic ASBA, the ASBA investor himself/herself shall fill in all the above mentioned details in the online application system of the bank, except the application number which shall be system generated. The …Learn More How does a SCSB get the file formats for uploading of bids?
In case of public/rights issues, SCSB may approach the Stock Exchange offering electronic bidding system. They will inform SCSB about the file formats. It may be noted that only after the mock trial run done with Stock Exchanges and Registrar; the bank will be in position to submit a certification to SEBI as mentioned in …Learn More