In order to further streamline the public issue process, SEBI has proposed to use an alternate payment mechanism such as Unified Payments Interface (UPI) while retaining benefits of ASBA in public issues. The UPI system would allow the investor to authorize blocking of funds for making application as is done in ASBA. This move would certainly reduce the post issue timeline for listing from existing T+6 days (T is date of closure of public issue).
from taxmann.com News https://ift.tt/2mHjX0l
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