SEBI nod to online bonds subscription
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Market regulator SEBI today allowed online subscription of bonds, a move that will reduce timeline for completion of the process.
In a notification issued in Mumbai on Friday, the market regulator said in order to facilitate a system to reduce the timelines of the issue process for public issue of debt securities, it had been decided to extend Application Supported by Blocked Amount (ASBA) facility to public issues.
As per the existing regulation, (ASBA) is allowed in case of initial public offer of shares.
The regulator has directed exchanges to put in place necessary systems and infrastructure for implementation of this notification.
Besides, it has also directed depositories, merchant bankers and registrars to create awareness among issuers and investors about the various modes available for making applications.
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