Sebi to issue consultation paper for secondary market ASBA by March

Market regulator also working on new discussion paper for ESG rating providers

The Securities and Exchange Board of India will be floating a consultation paper on the implementation of an application supported by blocked amount (ASBA)-like mechanism for the secondary market by March 2023-end, said Sebi chairperson Madhabi Puri Buch.

The market regulator plans to introduce the new mechanism through a glide path, beginning with delivery-based trades. Buch said Sebi has been actively engaging with market participants and investors for the co-creation of the whole process.

On the matter of reducing timelines for approvals for Initial Public Offerings (IPOs), Buch said there are a few repeat offenders among merchant bankers, and to