New Delhi: Associates of stock brokers will have to ensure that their details are updated in electronic filing system of BSE while applying to participate in the IPO of Asia's oldest bourse.
"While applying in the BSE IPO, applicants who fall within the category of associate/agent are required to confirm that their details of association with the trading member are updated in the BSE Electronic Filing System (BEFS) of the exchange," BSE said in a circular.
These details will be used for the purpose of allocation in the IPO and continuous monitoring and maintenance of public shareholding by BSE, it added. BSE is coming out with its IPO on January 23 to raise an estimated Rs 1,243 crore.
Under listing norms, depositories are required to monitor the shareholding limit of trading members or their associates and agents, based on their demat balance, on a daily basis.
To facilitate such monitoring, the stock exchange is required to share the list of all trading members or their associates and agents with the depositories.
As per Sebi norms, the shareholding threshold of 2 per cent, 5 per cent or 15 per cent (for different classes of investors) as the case may be, will be monitored through depository mechanism.
The depositories would have to generate an alert when such holding exceeds 2 per cent and monitor the same under intimation to Sebi.
