Trading Members, Self-Certified Scheduled Banks (SCSB’s), Depository Participants (DPs) and Registrar and Share Transfer Agents (RTAs) are hereby informed that SEBI circular no. CIR/IMD/DF-1/20/2012 dated July 27, 2012 directing Stock Exchange to put in place necessary systems and infrastructure to provide system for making application to public issue of debt securities. BSE has developed the module for making application to public issue of debt securities on its iBBS Platform (Internet based Book Building Software). This facility was made available with effect from September 3, 2012
Now SEBI has issued circular no. CIR/DDHS/P/ 121/2018 dated August 16, 2018 for Streamlining the process of public issue under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (SEBI ILDS), SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 (SEBI NCRPS), SEBI (Public Offer and Listing of Securitised Debt Instruments) Regulations, 2008 (SEBI SDI) and SEBI (Issue and Listing of Debt Securities by Municipalities) Regulations, 2015 (SEBI ILDM).
The aforesaid circular shall be applicable for all public issues of debt securities, NCRPS and SDI opening on or after October 01, 2018.
Highlights of the SEBI Circular are as follows:
- All the investors applying in a public issue shall use only Application Supported by Blocked Amount (ASBA) facility for making payment
- Investors can submit applications through Depository Participant (DP) and Registrar and Share Transfer Agent (‘RTA’) in addition to existing intermediaries
- Stock exchange(s) to validate the electronic bid details with depository’s records for DP ID, Client ID and PAN, by the end of each bidding day and bring the inconsistencies to the notice of SCSBs or intermediaries concerned, for rectification and re-submission
- Stock exchange(s) to allow modification of selected fields viz. DP ID/Client ID or Pan ID (Either DP ID/Client ID or Pan ID can be modified but not BOTH), Bank code and Location code in the bid details already uploaded on a daily basis on T+1 day upto 1:00 pm
- Stock exchanges to facilitate the investors to view the status of their public issue applications on their websites and sending the details of applications and allotments through SMS and E-mail alerts to the investors
- Stock Exchanges to provide the Electronic Schedule to be forwarded by the intermediaries along with each application form to the designated branches of the respective SCSBs for blocking of funds
Accordingly, BSE has updated the module for making application to public issue of debt securities on its iBBS Platform (Internet based Book Building Software), which is now available for testing/ mock.
The Exchange proposes to conduct a mock session for DEBT IPO on iBBS platform on September 27, 2018, to October 03, 2018
Offer Details for Mock
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Security Name
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DEBT TEST
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Security Symbol
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DTEST
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Offer Size
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20,00,000 Bonds
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Market Lot
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1 Bond
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Face Value
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Rs.1000
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Start Time and End Time
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10:00 AM to 5:00 PM
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Options
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I, II, III
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Minimum Application
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Rs.10,000/-
(10 Bonds for all options, namely Option I, Option II & Option III)
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Mode of Allotment
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Demat Only
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Mode of allotment available for Banks and Members:
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Type
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Allotment Mode
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MEMBER ASBA
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DEMAT
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BANK ASBA
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DEMAT
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The URL for DEMO DEBT Module is as under: https://demo.bseindia.com/asba
The key functionalities of this module are described as under:
1. Trading Members, Self-Certified Scheduled Banks (SCSB’s), Depository Participants (DPs) and Registrar and Share Transfer Agents (RTAs) can put bids for Bonds/ NCDs through bid entry screen or use the file upload facility.
2. An applicant is allowed to make one or more applications for the NCDs for the same or other series of NCDs,
3. Trading Members, Self-Certified Scheduled Banks (SCSB’s), Depository Participants (DPs) and Registrar and Share Transfer Agents (RTAs) can put bids for Bonds/ NCDs for allotment in demat.
4. This module is available for ASBA bids only.
5. Bids can be modified except for the Application, Quantity, Series and Category.
6. Effective monitoring of bidding centers
7. Simplified Bid Entries Screens
8. Faster File Upload/Batch Upload upto 25,000 records can be uploaded in a single file.
9. Response files (success and error) are in the same file format as upload.
10. Viewing Order Book on Real Time Basis
11. Modification and Cancellation of Bids (manually via Order Book and in batch upload)
12. T+1 Modification
13. Printing Transaction Slips
14. Trading Members, Self-Certified Scheduled Banks (SCSB’s), Depository Participants (DPs) and Registrar and Share Transfer Agents (RTAs) can download various reports like Bid book, T+1 Report etc.
Trading Members, Self-Certified Scheduled Banks (SCSB’s), Depository Participants (DPs) and Registrar and Share Transfer Agents (RTAs) are requested to note that the bid upload file formats, E-Schedule File Format and Category details are attached in Annexures I, II, III and IV respectively.
For Further Details please contact:
Bhushan Mokashi
Addl. General Manager
September 26, 2018
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