Financial Daily from THE HINDU group of publications
Sunday, Jan 22, 2006
Financial Daily from THE HINDU group of publications Sunday, Jan 22, 2006 |
|
|
|
|
|
|
|
Markets
-
IPOs SEBI directive to merchant bankers on refund of IPO money Our Bureau
Mumbai , Jan. 21 SEBI on Friday asked merchant bankers to make the refund money of IPO applications through the electronic clearing services only for applicants residing in 15 centres where clearing houses are managed by the Reserve Bank of India. In a circular to the merchant bankers, SEBI said it was making amendments to the SEBI (Disclosure and Investor Protection) Guidelines, 2000, to necessitate the change. The refunds can be made through direct credit and real time gross settlement (RTGS), if the applicant is eligible to get refunds through these processes. For refunds through ECS, SEBI said the details of bank accounts of applicants would henceforth be taken directly from the depositories' database for public issues where applications are made wholly in the dematerialised form.
More Stories on : IPOs
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|