The Bombay Stock Exchange (BSE) on September 14, 2023, issued a notification regarding the Processing of ASBA applications in the Public Issue of Equity Shares and Convertibles
This is in continuation of the Exchange Circular No. 20220722-30 dated July 22, 2022, regarding the processing of ASBA applications in the public issue of equity shares and convertibles and 20230810-31 dated August 10, 2023, regarding the Reduction of Timeline for Listing of Shares in Public Issue from existing T+6 days to T+3 days.
The following has been stated namely: -
• It states that for Direct Bank ASBA and Syndicate ASBA applications, the SCSBs must guarantee the following before blocking ASBA application funds in the applicant's bank account: -
(i) The PAN mentioned in the application matches with the PAN linked to the bank account of the applicant maintained with the bank. A confirmation on the above shall be submitted by SCSBs to the Registrar to Issue along with the Final Certificate.
(ii) The PAN linked to the bank account of the applicant shall be part of the bidding data on the Stock Exchange platform.
• It states that the Exchange has made the following changes on the IBBS platform (internet-based book-building software of BSE) for SCSBs:
(i) The Bank Account Number field shall be mandatory
(ii) The Bank Account Number Length has been increased from 16 characters to 45 characters
• The revised file format has been attached as Annexure II.
• It states that the mock session shall be available for SCSBs from Monday, September 18, 2023, to Monday, October 13, 2023, on the UAT Server to familiarize the above changes.
• The SCSBs are requested to note that Bank Account Numbers with increased field length shall be mandatory on the live server for all initial public issue(s) opening on and after October 16, 2023
• It further states that there shall be no change in the upload of bids on the iBBS platform for Trading Members, Syndicate Members, Registrar and Transfer Agent, and Depository Participants.
[Notification No. 20230914-29]
