Section 58 in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
58. Abridged prospectus, abridged letter of offer and ASBA.
(1)The abridged prospectus shall contain the disclosures of the memorandum prescribed under sub-section (3) of section 56 of the Companies Act, 1956 and additional disclosures as specified in Part D of Schedule VIII.(2)The abridged letter of offer shall contain the disclosures as specified in Part F of Schedule VIII.(3)The abridged prospectus and abridged letter of offer shall not contain any matter extraneous to the contents of the offer document.(4)Every application form-including ASBA form distributed by the issuer or any other person in relation to an issue shall be accompanied by a copy of the abridged prospectus or abridged letter of offer, as the case may be.(5)The issuer shall provide the facility of ASBA in all book built public issues and rights issues, where not more than one payment option is given to the retail individual investors, in accordance with the procedure specified by the Board.(6)An application through ASBA form may be made:(a)in a public issue, by an applicant who:(i)is a resident retail individual investor;(ii)is bidding at cut-off, with single option as to the number of sham bid for;(iii)is applying through blocking of funds in a bank account with the self certified syndicate banks;(iv)has agreed not to revise his bid;(v)is not bidding under any of the reserved categories;(b)in a rights issue, by an applicant who:(i)holds the shares of the issuer in dematerialised form as on the record date and has applied for entitlements and/or additional equity shares in dematerialised form;(ii)has not renounced his entitlements in full or in part;(iii)is not a renounce;(iv)who is applying through blocking of funds in a bank account with the Self Certified Syndicate Bank.
