In its continuing endeavour to make the existing public issue facility more efficient, SEBI had introduced Applications Supported by Blocked Amount "ASBA" (ASBA Phase I) as a supplementary facility of applying in public issues, vide its circular dated July 30, 2008 which was available to retail individual investors in public issues only. The ASBA Phase I was subsequently extended to rights issues vide circulars dated September 25, 2008 and August 20, 2009.
SBI has now extended the ASAB facility to following investors vide circular no. SEBI/CFD/DIL/ASBA/1/2009/30/12 dated December 30, 2009 :-
(i) In public issues: All investors except Qualified Institutional Buyers (QIBs) are eligible to apply through ASBA in public issues;
(ii) In rights issues: All shareholders of the issuer company as on the record date provided if he/ she/it:
(a) is holding shares in dematerialised form and has applied for entitlements and /or additional shares in the issue in dematerialised form;
(b) has not renounced his/ her entitlements in full or in part;
(c) is not a renouncee to the Issue;
(d) applies through a bank account maintained with SCSBs.
Click the title for the full text of the circular.
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