Notice No.   20220803-40   Notice Date   03 Aug 2022
Category   Trading   Segment   Equity
Subject   Processing of ASBA applications in Public Issue of Equity Shares and Convertibles

 Trading Members, Syndicate Member, Registrar and Transfer Agents, Depository Participants and Self Certified Syndicate Banks (SCSBs) are requested to note that for the public issues opening for subscription on and after September 01, 2022, the following changes shall be implemented for UPI (Unified Payments Interface with ASBA) Bids:

  1. The Mandate acceptance time shall expire at 5:00 PM on the closing day of the IPO.
  2. The Stock Exchange shall display bid details of only the successfully ASBA blocked applications i.e. Application with UPI Status as RC-100 – (Block Request Accepted by Client – Payment Successful).
  3. The dedicated window provided for bid modification (modification of selected fields viz. DP ID/Client ID or Pan ID, Bank code and Location code, in the bid details already uploaded) on T+1 day (T being last day of bidding)  shall cease to exist. The bid modification/ updation shall be allowed in parallel to the regular bidding period of IPO and shall close at 5 PM on the closing day of the IPO.


The dedicated window provided for bid modification on T+1 day (T being last day of bidding) shall cease to exist for Non UPI Bids also.


Further, your kind attention is requested to the para 8 of SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, 2019, regarding the handling of application forms, the details of which are reproduced below:

“Intermediaries shall retain physical application forms submitted by retail individual investors  with  UPI  as  a  payment  mechanism,  for  a  period  of  six  months and thereafter forward the same to the issuer/ Registrar to Issue. However, in case of Electronic forms, “printouts” of such applications need not be retained or sent to the issuer. Intermediaries shall, at all times, maintain the electronic records relating to such forms for a minimum period of three years”.


For any further clarification please mail us on the following email ids.


Email ID

Regulations & Business Rules

Functionality of IBBS


Sandeep Pujari                                                                                  Mangesh Tayde

DGM-Trading Ops                                                                            AGM-Listing Sales