ASBA for secondary market in the works: Sebi chairperson Madhabi Puri Buch

Regulator not against algo trading but businesses 'cannot be a black box', she says

Madhabi Puri Buch
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Madhabi Puri Buch

Khushboo Tiwari Mumbai
The Securities and Exchange Board of India (Sebi) is considering an ASBA-like structure for the secondary market, said the regulator’s chairperson, Madhabi Puri Buch, on Wednesday, referring to an application process for IPOs.

With Application Supported by Blocked Amount, money from an applicant's account is deducted on allocation of IPO. The process facilitates investors bidding with multiple options to apply through self-certified syndicate banks (SCSBs) where they have accounts.

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First Published: Sep 21 2022 | 11:45 AM IST

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