Applications Supported by Blocked Amount (ASBA) facility in public issues

Applications Supported by Blocked Amount (ASBA) facility in public issues

CIR/CFD/DIL/2/2010 April 06, 2010

To All Registered Bankers to an Issue

To All Registered Merchant Bankers

To All Registered Registrars to an Issue

To All Stock Exchanges

Dear Sirs,

Sub.: Applications Supported by Blocked Amount (ASBA) facility in public issues

1. This has reference to circular No. SEBI/CFD/DIL/ASBA/1/2009/30/12 dated December 30, 2009 in the captioned matter, wherein as para 2(c)(i), ASBA facility was available to all the investors except Qualified Institutional Buyers (QIBs). In this regard SEBI has decided to extend the ASBA facility to QIBs in public issues opening on or after May 1, 2010.

2. In this regard, Stock Exchanges, Merchant Bankers, Registrar to an Issue and Bankers to an issue acting as Self Certified Syndicate Banks are advised to ensure that appropriate arrangements are made to accept ASBA forms from QIBs also in addition to the existing categories of investors.

3. This circular is issued in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992.

4. This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and “Issues and Listing”.

Yours faithfully,

Sanjay Purao

Deputy General Manager

+91-22-26449612

sanjayp@sebi.gov.in