IPO Watch: SEBI's new rule on ASBA applications to bring parity among retail investors, QIBs, HNIs; in effect from 1 September
IPO Watch: Capital markets regulator Securities and Exchange Board of India (SEBI) on Monday said ASBA (Application Supported by Blocked Amount) applications in public issues will be processed only after the application money is blocked in the investor's bank accounts
"Stock exchanges shall accept the ASBA applications in their electronic book building platform only with a mandatory confirmation on the application monies blocked," the regulator said