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Our Bureau

Mumbai, Sept. 12 Close to 10 per cent of the retail applications received in the initial public offering of 20 Microns were received through the Applications Supported by Block Amount (ASBA) process, said a SEBI news release.

The 20 Microns issue was subscribed by a total of 4.29 times.

The retail portion was subscribed 10.52 times.

This is the first public issue under the ASBA process newly instituted by SEBI.

Here, the retail investor’s IPO application money remains in a special bank account till allotment in the public issue.

Out of the five Self-Certified Syndicate Banks (SCSB), ICICI Bank accounted for the largest number of ASBA applications, at 98.6 per cent of the total shares applied for on BSE, and 60.4 per cent of the same on NSE.

The other SCSBs are SBI, Corporation Bank, HDFC Bank and Union Bank.

An official with one of the SCSBs said thought the ASBA process has made a modest start, there were several enquiries coming in from investors.

SEBI also announced that it has added five more banks to the list of SCSBs, which brings the total to 10 banks.

The five include IDBI Bank, Axis Bank, State Bank of Bikaner and Jaipur, Bank of Baroda and Kotak Mahindra Bank.

The SEBI statement said that as on date, there are 57 banks registered with SEBI as bankers to an issue and all these banks are eligible to act as SCSBs in the ASBA process subject to their submitting a self-certification to SEBI stating that they have conducted a mock trial of their systems with the stock exchanges and registrars and that they are satisfied with their systems and infrastructure.

It also stated that the SCSB list will be updated on the first and 15 of every month.

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