If you want to earn money by betting in Initial Public Offering (IPO), then this news is for you. In fact, capital markets regulator SEBI has streamlined the fee payment system through UPI (Unified Payment Interface) for allotment and application for shares during the IPO. Apart from this, information will also be given to investors through SMS and email.
What SEBI said: Not only this, the Securities and Exchange Board of India (SEBI) has prescribed a new reporting format for receiving data of all ASBA (Amount Blocked Through Application) applications to ‘unblock’ all ASBA (amount blocked through application) by a group of self-certified banks (SCSBs). Is. SEBI said in a circular that the new format has been brought after reviewing the functioning of SCCB and suggestions received from market intermediaries to remove the moratorium on application money in time.
As per the circular, the SCSB Merchant Banker/Issue/Registrar of Issuers shall be responsible for furnishing the information as requested by the Registrar. Along with this, he will also be responsible for compensation for delay in release of application money after claiming processing fee. “… If SCSBs do not comply with the provisions of the circular, action will be taken against them under the Securities Act,” the regulator said.
Information will be received from the message: With regard to SMS received by investors, SEBI said that SCSB/UPI apps eligible for public issue will send ‘SMS Alerts’ to investors for all ASBA applications. You can also send bills by e-mail. This will be an additional facility, which will give complete details about payment through UPI.
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NPCI’s proposal was: Let us inform that NPCI (National Payment Corporation of India) had proposed to send the bill to SEBI on e-mail to ensure that the investors get the information at the right time. The details that need to be given through SMS include the name of the IPO, application amount and the date on which the amount was frozen, etc. This provision will come into force with immediate effect. The provisions of this circular shall form part of the Offer Document including the Prospectus for the IPO.