MSTC Limited IPO Message Board (Page 4)

U can apply with both option.
One more is online asha process.

But ASBA process Will be discontinued after 5 main board IPO am I right

As per sebi Online asba process continue after 5 ipo.

As we didn't hit the threshold of 5 main board IPO through UPI in stage 1 of implementation, the ASBA will continue. This mean you can continue applying for multiple application using 1 bank account.

Note that we only had 2 main-board ipo in this year so far. The threshold for mandatory UPI for 5 main-board IPO's.

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Implement Stages (UPI Payment for IPO Application)

UPI payment option for IPO application will be implemented in phase as mentioned below:

Phase I:
From January 2019, the UPI is optional for Retail & Shareholder Category Investors. It will work along with the existing ASBA process. The listing of IPO shares will take 6 working days from the date of closure of the IPO.

Phase II:
From March 2019 or after 5 mainboard IPO, the UPI will be mandatory for Retail & Shareholder Category Investors. The listing of IPO shares will still take 6 working days from the date of closure of the IPO.

Phase III:
UPI to be mandatory for Retail & Shareholder Category Investors with up to Rs 2 Lacs for all IPO applications. The listing of IPO shares will reduce to 3 working days from the issue close date.

For more detail visit:

https://www.chittorgarh.com/article/upi-payment-option-ipo-application-explained/382/

@Admin

Your info is wrong.

Below is the correct one.

Considering the time required for making necessary changes to the systems and to ensure complete and smooth transition to UPI payment mechanism, the proposed alternate payment mechanism and consequent reduction in timelines is proposed to be introduced in a phased manner as under:
3.1 Phase I: From January 01, 2019, the UPI mechanism for retail individual investors through intermediaries will be made effective along with the existing process and existing timeline of T+6 days. The same will continue, for a period of 3 months or floating of 5 main board public issues, whichever is later.
3.2 Phase II: Thereafter, for applications by retail individual investors through intermediaries, the existing process of physical movement of forms from intermediaries to Self-Certified Syndicate Banks (SCSBs) for blocking of funds will be discontinued and only the UPI mechanism with existing timeline of T+6 days will continue, for a period of 3 months or floating of 5 main board public issues, whichever is later.
3.3 Phase III: Subsequently, final reduced timeline will be made effective using the UPI mechanism.

So Phase 1 is still continue and it will get expired after 31st March, 2019.

And whether it is UPI or ASBA, from now onwards investor has to apply his/her application from his/her own bank account. Not allowed Multiple application from 1 bank account. Read below.

10. Number of applications per bank account
10.1 In order to ensure parity across the various channels for submitted applications, it has been decided that an investor making application using any of the aforesaid channel, shall use only his / her own bank account or only his / her own bank account linked UPI ID to make an application in public issues.
10.2 Applications made using third party bank account or using third party linked bank account UPI ID are liable for rejection.
10.3 Sponsor Bank shall provide the investors UPI linked bank account details to RTA for purpose of reconciliation.
10.4 RTA shall undertake technical rejection of all applications to reject applications made using third party bank account.

Dear Splendid,

We are referring to the same ruling.

The description you provided says "From Jan 2019, stage 1 will continue for a period of 3 months or floating of 5 main board public issues, whichever is later."

In stage 1, the existing ASBA process will remain intact.

Doesn't that mean the existing system of multiple IPO application through 1 bank account will continue until we hit 5 main-board IPO this calendar year?

Please let us know if we are missing something.