SEBI allows online subscription of bonds

SEBI gave its nod for online subscription of bonds. 

Objective: To cut the timeline for completion of the process.

In order to provide a mechanism to decrease the timelines of the issue process for public issue of debt securities, SEBI extends Application Supported by Blocked Amount (ASBA) facility to public issues. Currently ASBA is allowed only in case of Initial Public Offer (IPO) of shares.

SEBI has instructed exchanges to install necessary systems and infrastructure for execution of this notification.

Month: Current Affairs - July, 2012