CIRCULAR NO. CIR/CFD/DIL/4/2011, Dated- September 27, 2011

Sub.: Contents of Application-Cum-Bidding Form and Manner of disclosure
1. SEBI has reviewed the structure, design, format, contents and order of information of Application-Cum-Bidding-Form to make it investor friendly and also to ensure uniformity in bidding and accuracy.
2. The form has been standardized and it has been decided that henceforth there would only be a single form for ASBA and Non-ASBA applicants. It has also been decided that the Application-Cum-Bidding Form (accompanied with abridged prospectus) would be printed in a booklet form of A4 size paper.

3. In order to ensure uniformity and to facilitate easier identification, it has been decided to standardize the colour of the Application-Cum-Bidding Form as under:

  • White form for Resident Indian, Eligible NRIs applying on a non repatriation basis
  • Blue form for Eligible NRIs, FVCIs, FIIs, their Sub-Accounts (other than Sub-Accounts which are foreign corporates or foreign individuals bidding under the QIB Portion), on a repatriation basis

4. The full text of data fields required in Application-Cum-Bidding-Form is given in the Annexure-A hereto. A gist of major changes is given below:

a)    the placement of the data fields has been done keeping in mind the ease of reference to investors/intermediaries for identification of name of the issue.

b)    company specific information is now included in abridged prospectus.

c)  information/instruction(s) which are required to fill the form have been placed overleaf of the Application Form. Remaining information/instruction(s) which are generic in nature have been incorporated in General Information Document.

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d)  the pre-printing of prefix number in the Application Form has been done away with to reduce errors caused in data entry. All forms shall henceforth carry eight digit application numbers which shall be serially numbered. Serial number may be system generated or stamped with automatic numbering machine and the forms should be date and time stamped at the bidding centers. In order to ensure correct categorization of bids, special series shall be used for employees (where employee reservation is applicable).

e)    new data fields viz. discount, net price etc have been introduced to help investors to pay the correct amount along with the Bid Application Form in issues where discount is offered.

f)     signature of only the first bidder would be required. First bidder would be deemed to have signed on behalf of joint holders and would give requisite confirmation(s) to that effect.

5. Syndicate Member/SCSB to note that additional provision for stamp of broker/SCSB Branch has been made in the main application form. The stamping shall be done only after bid has been uploaded.

6. An Illustrative Format for Application-Cum-Bidding-Form is placed at Annexure-B hereto. All intermediaries to note that no changes shall be carried out in spacing, placement or in data fields in the Main Application Form and Bid Revision Application Form.

7. All concerned intermediaries are directed to comply with the instructions contained in this circular.

8. This circular shall be applicable on Red Herring Prospectus/Prospectus filed with Registrar of Companies on or after November 01, 2011. This is to enable changes in the systems at Stock Exchange and SCSB level.

9. This circular is issued in exercise of the powers conferred under Section 11 read with Section 1 1A of the Securities and Exchange Board of India Act, 1992 read with SEBI (ICDR) Regulations, 2009.

10. This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and “Issues and Listing”.

Yours faithfully,

Sanjay Purao
Deputy General Manager
+91-22-26449612
sanjayp@sebi.gov.in

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