SEBI issues norms for simpler bid forms

Besides,there will be a single form for ASBA (Application Supported by Blocked Amounts) and Non-ASBA applicants as per the changed rules.

In order to ensure uniformity and to facilitate easier identification,colour of the form has also been standardised.

The application form will be white for resident Indian and eligible NRIs applying on a non repatriation basis,it said.

Eligible NRIs,FIIs and their sub-accounts will have to apply in blue form excluding sub-accounts which are foreign corporates or foreign individuals bidding under the QIB portion,it said.

On text of the data fields,the market regulator has changed the placements of some data fields for ease of reference by investors.

“Company specific information is now included in abridged prospectus,” the regulator said.

These new guidelines shall be effective from November 1, 2011 for all upcoming public offers filed on or after the said date.

It has also added new data fields like discounts,net price etc to help investors to pay the correct amount.

As per the new rules,signature of only the first bidder would be required in case of joint holders.

SEBI has also introduced additional provision for stamp of broker or SCSB branch.

SEBI,which had received board approval for these changes on July 26,has notified the order today.