7 Things to Know About e-IPO or e-Initial Public Offering

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The Securities and Exchange Board of India (Sebi) on Thursday proposed the norms for e-IPO.  Here are few points that you should take note of:

1) Investor will be able to submit his application to place order with any SEBI registered Stock Broker, Depository Participant (DP) or Registrar and Transfer Agent (RTA) and Self Certified Syndicate Bank (SCSB).

7 Things to Know About e-IPO or e-Initial Public Offering

2) Investor will continue to have the option of submitting Application Supported by Blocked Amount ("ASBA") application to SCSB or stock broker.

3) Investors can also fill the application form online and submit it on the web portal of trading member, DP/ RTA or SCSB (in case of ASBA), if provided by the intermediary.

4) The investor will not be required to physically sign any paper as even the Companies Act, 2013 recognizes the electronic form of a document. This will help eliminate printing application form and thereby reduce the overall cost of public issuance.

5) On receipt of application, the Stock Broker / DP / RTA/ SCSB will have to lodge the application on the bidding platform.

6) Investors will not be able to withdraw bids upon closure of the issue. Upon closure of the issue, the bid book shall be made available to the Registrar by Stock Exchanges and Depositories.

7) On account of the above, the post issue timelines will reduce from T+12 days to T+6 days.

Sebi has invited public comments till January 30, 2015 after that final draft will be issued.

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