SEBI has vide circular no. SEBI/CFD/DIL/DIP/18/2006/20/1 dated 20 January, 2006 amended the SEBI (Disclosure and Investor Protection (DIP) Guidelines, 2000 to ensure that applicants residing in 15 centres get IPO / Rights, etc to get refunds through direct credit (ECS) to their bank accounts. The details of the bank accounts would be taken directly from their depository details.
Refund orders of value Rs.1500/- or more are required to be sent by registrered post. Merchant Bankers have been adviced to change the subscription forms accordingly.
This amendment is effectively immediately and hence would be applicable to all issues where the draft offer documents are filed with SEBI on / after 20th January, 2006.
The 15 centres are: Ahmedabad, Hyderabad, Bangalore, Ahmedabad, Bangalore, Bhubneshwar, Kolkata, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthpuram.
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