| Guidelines for Making Application to Public Issue of DEBT Securities |
This is in continuation of the Exchange notices no. 20120831-22 dated August 31, 2012 regarding 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.
Further 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 dated August 16, 2018 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. This facility will be available for live sessions with effect from October 1, 2018.
Please find attached herewith the detailed revised operational instructions and guidelines for participation in the DEBT IPO segment at BSE in Annexure A.
For any further clarifications, Trading Members, Self-Certified Scheduled Banks (SCSB’s) Depository Participants (DPs) and Registrar and Share Transfer Agents (RTAs) are advised to contact following Exchange officials –
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Name of Official
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Contact Number
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Department
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Email ID
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Amrin Memon
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022-22728125
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Listing Sales
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listing.sales@bseindia.com
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Prachi Pandya
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022-22728987
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Listing Sales
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listing.sales@bseindia.com
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Bhushan Mokashi
Addl. General Manager
September 26, 2018
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