CDSC rolls out Centralized ASBA that makes allotment possible within a week; How to get CRN number for C-ASBA? C-ASBA Registration not compulsory for upcoming Butwal Power FPO

CDS and Clearing Limited (CDSC) has published a notice regarding full implementation of C-ASBA. Publishing a notice, CDSC said that this has made the ASBA application process more manageable, easier and reliable for both investors and issue managers. Through C-ASBA, demat account numbers (BOID) of investors will already be verified before the investor applies for any IPO/FPO. This way, the risk of invalid applications due to incorrect BOID will completely be eradicated and they can also apply via internet through CDSC’s “MeroShare” service. Steps needed to avail C-ASBA service For this, one has to visit their respective Bank and Financial Institutions (BFIs) and fill up the form required to obtain CRN (C-ASBA Registration Number). The bank will then provide the CRN. After this, one must go to the Depository Participants (DP) where they have opened their Demat account. From the DP, it is mandatory to also get “MeroShare” login username and password. Unless this facility is provided by the bank where the investors have an account, they cannot use C-ASBA facility. Out of 59BFIs that have been registered in ASBA, only 25 BFIshave registered for C-ASBA. Among 65 licensed DPs, 63 have already registered in “MeroShare”. As per Mr. Dev Prakash Gupta, CEO of CDS and Clearing Limited, “CDSC has already informed Securities Board of Nepal (SEBON) for full implementation of C-ASBA.” He further added that one can apply either by C-ASBA or ASBA. Remaining BFIs will be registered as soon, and until then, investors can still apply for IPO/FPO using regular ASBA service. C-ASBA Registration not compulsory for upcoming Butwal Power FPO C-ASBA has already been implemented, but it has not been made mandatory for upcoming FPO of Butwal Power Company Limited (BPCL). One can apply through either C-ASBA or ASBA. If C-ASBA comes into full effect, the allotment of shares will be completed within just a few days as opposed to a month it takes currently. Video: How to apply for IPO/FPO/Right Share through C-ASBA https://content.sharesansar.com/photos/wp-content/uploads/C-ASBA%20Process.mp4