The Securities and Exchange Board of India (SEBI) has decided to introduce electronic IPOs from January 1, 2013.
“The facility to submit the application forms would be available in more than 1000 locations which are part of the nationwide broker network of the stock exchanges and where there is a presence of the brokers’ terminals (broker centre),” said SEBI in a circular to market participants.
In the first phase, around 400 broker centres would be covered by January 1, 2013 and the remaining centres would be covered by March 1, 2013.
Accordingly, details of locations including name of the broker, contact details such as name of the contact person, postal address, telephone number and e-mail address of the broker, where the application forms shall be collected, will be disclosed by the stock exchanges on their websites at least 15 days before the dates specified by SEBI for introduction of electronic IPO.
SEBI also asked stock exchanges to ensure that the details disclosed on their websites are regularly updated.
