ASBA

Vadodara-based 20 Microns Ltd is set to become the first company to come out with an initial public offer as per the new guidelines formulated by Sebi on Applications Supported by Blocked Amount (ASBA).

These banks have tested the new system and Sebi is comfortable with their preparedness, said a senior Sebi official, who did not wish to be identified.

An alternate payment system for public issues that will not block retail investors’ money unless shares are actually allotted to them will be