They already changed Company name to " Prakash and Sons Limited" from Precision Camshaft Ltd
You can imagine SARKARI BABUs must be working there in link intime company and therefore, they are very slow in updating IPO allotment status and even wrongly writing company names.
Kya hoga Is Desh ka ?
696.1. Septa| Link| Bookmark|
February 4, 2016 11:07:27 AM
(4000+ Posts, 4600+ Likes)
Outlining the schedule of various activities after the public issues has closed, securities regulator SEBI said that stock exchanges would allow a bid to be modified only until 1 pm the on the day after the issue has closed (date of issue close is called ''T'').
However, modification would be allowed only for selected fields in the bid details already uploaded, SEBI said.
Exchanges have to send electronic bid details (which contain among other things, application number and amount) to registrar on T+ 1 day, which in turn has forward it to the concerned banks for validation and reconciliation.
Other activities that would happen on T+ 1 day includes other intermediaries (syndicate members, brokers, registrar and DPs) sending a schedule in prescribed format for banks to begin blocking of funds. Designated bank branches would not receive the schedule and applications after T+1 day.
On T+2 day, the issuer (company), merchant banker and registrar have to submit relevant documents to the stock exchanges for the purpose of listing permission. This would however, exclude, listing application, allotment details besides demat credit and refund details.
Banks have to send confirmation of funds blocked under ASBA to the registrar by end of day.
Registrar has to reconcile the data received from exchanges, reject multiple applications from the same PAN (permanent account number) and prepare a list of technical rejections based on its technical rejection test.
On T+3 day, the registrar finalises the basis of allotment and submits it to the stock exchange for approval. On receipt of approval from the exchange, the registrar prepares a fund transfer schedule and along with the issuer initiates corporate action to carry out lock-in for pre-issue capital held with the depository.
Simultaneously the registrar along with the merchant banker issue fund transfer instructions to the banks.
On T+4 day, depositories will confirm the receipt of pre-issue capital to the registrar. Banks will credit the funds into the public issue account of the issuer and confirm the credit of funds. Issuer would make the allotment of shares and along with the registrar initiate corporate action for credit of shares to successful allottees.
The issuer and registrar would file allotment details with the stock exchanges and also ensure that all formalities barring demat credit are completed.
Registrar would then send bank wise data of allottees, amount due on shares allotted and balance amount to be unblocked to banks.
On T+5 day, the registrar will receive confirmation of demat credit from depositories. The registrar along with issuer would then file confirmation of demat credit, lock-in and issuance of instructions to unblock ASBA funds with the stock exchanges. The issuer would then apply to the stock exchanges for permission to list and trade its securities.
On receipt of permission to list and trade from exchanges, the issuer along with the merchant banker and registrar has to issue an advertisement on allotment and date of commencement of trading in all newspapers which carried the advertisements related to issue opening/ closing.
Stock exchanges have to issue trading notice.
On T+6 day, the stock lists and trading commences. Six days for listing means six working days and excludes Sundays and bank holidays.
(This article was published on November 10, 2015)
688. Eagleye| Link| Bookmark|
February 4, 2016 6:38:08 AM
IPO Guru (6600+ Posts, 21900+ Likes)
Precision Camshafts Limited:
Unblocking of Funds – February 4, 2016 Credit of Shares to D’Mat Accounts – February 5, 2016 Commencement of Trading – February 8, 2016