Circular regarding Streamlining the process of IPOs with UPI in ASBA and redressal of investors grievances (Circular dated – 02.06.2021) – SEBI
View PdfCircular regarding Streamlining the process of IPOs with UPI in ASBA and redressal of investors grievances (Circular dated – 02.06.2021) – SEBI
- SEBI vide Circular No. SEBI/HO/CFD/DIL2/CIR/P/2021/2480/1/M dated March 16, 2021 (hereinafter referred to as “the circular”), which came into effect from May 01, 2021 had put in place measures to have a uniform policy to further streamline the processing of ASBA applications through UPI process among intermediaries/SCSBs and also provided a mechanism of compensation to investors.
- The stakeholders have approached SEBI seeking additional time for implementing the system changes given the prevailing uncertainty due to the Covid-19 pandemic.
- In view of the representations received from stakeholders, the implementation timelines for the provisions of “the circular” shall be as under:
- SMS Alerts.
- Web Portal for CUG.
- Completion of Unblocks by T+4.
- This circular has come into immediate effect.
- The contents of the circular shall be mentioned in the DRHP and RHP filed on or after the date of this circular.
- This circular is being issued in exercise of the powers under section 11 read with section 11A of the Securities and Exchange Board of India Act, 1992.
