Streamlining the Process of Public Issue of Equity Shares and convertibles

In order to streamline the process and methodologies associated with public issue fund raising process, SEBI has earlier made Application Supported by Blocked Amount (ASBA) mechanism as the sole payment mechanism in public issue, in continuation, SEBI has decided to introduce the use of Unified Payments Interface (UPI) as a payment mechanism with ASBA to increase efficiency, eliminate the need for manual intervention at various stages, and reduction of time duration from issue closure to listing by upto 3 working days. This mechanism will be introduced in various phases on different dates.