MEDIA RELEASE

 BSE develops New Interface for Banks

to facilitate IPO payments

Bombay Stock Exchange Ltd. (BSE) has developed an interface for the banks to participate in the ASBA (Application Supported by Blocked Amounts) process. This new initiative is in the area of IPO payments as proposed by the capital markets regulator, Securities and Exchange Board of India (SEBI).

This interface has been successfully tested with 11 banks, namely : Bank of Baroda, Corporation Bank, HDFC Bank, ICICI Bank, IDBI Bank,  Indus Ind Bank, Kotak Bank, Punjab National Bank, State Bank of India, State Bank of Bikaner and Jaipur and Union Bank.

BSE is now in the process of testing the interface with other banks that have evinced interest in participating in ASBA process.

Advantages :

Using this interface the banks, participating in the IPO process would be able upload the bids with respect to their customers, into the electronic book of BSE. The interface facilitates not only the controlling branch but also the designated branches of the banks to directly upload the bids into the electronic book at BSE.

The mock platform has been kept open for the banks till Tuesday so as to familiarise them with the interface.

Kalyan S. Bose

Head - Corporate Affairs