Letters: Ill-timed change

Priya Nair's article, "Investing in IPOs through Asba is convenient, saves time" (February 15), omits one crucial issue: the missed opportunity for small investors due to no fault of theirs. Until systemic logistics are up and running efficiently, small investors should not opt for Application Supported by Blocked Account (up to Rs 2 lakh). The change seems ill-timed and to the detriment of small investors.

Even in a place like Jodhpur, there are problems in the submission of applications; it's likely that in smaller or remote places with only one or two banks, which may not even be members of Asba, the situation is not much better, if not worse. Compelling investors to maintain accounts in Asba-member banks is also not justified.

The matter should be taken up with the Securities and Exchange Board of India at the earliest so that small investors are not sidelined. Simply banking on the benefits of change without proper implementation does more harm than good.

Ajay Gupta Jodhpur

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