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Live Subscription Numbers for IPOs of NCDs and Tax-Free Bonds

SEBI is quite active and doing its bit to make sure that investors get live updates related to subscription numbers (no) of IPOs and non convertible debentures (NCDs) and first to go under the test is India Infoline Finance Limited (IIFL) NCD.

Now SEBI has issued a circular dated July 27, 2012 with its circular no. CIR/IMD/DF-1/20/2012 and has directed to the stock exchanges to put in place necessary systems and infrastructure to facilitate making applications to public issue of debt securities.

The bidding process has also been made mandatory to put in place such systems. Investors or the intermediaries assisting the investors will be required to visit the bidding centres of the syndicate members/trading members of the stock exchanges to submit their applications, which in turn will upload all the details of these applications on the online platform of the stock exchanges. This will be made Live by these exchanges on real time basis on their respective websites for market participants’ reference.

Now it will be the responsibility of these syndicate members/trading members to submit your applications along with the cheque/demand draft to the collection banks. The collection banks will continue to realize the payments for these applications in the Escrow Account of the issuer and forward these applications to the Registrar for procurement analysis and resolution of investor grievances.

You can check the live updates for NSE Live IPO Subscription Update and BSE Live IPO Subscription subscriptions by clicking the given links and you can visit the NSE IPO Subscription Graphical Depiction here

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