IPO /ASBA Operations

Role & responsibilities

To manage end-to-end operations of ASBA-based IPO, NCD, SGB, and UPI transactions, ensuring accuracy, regulatory compliance, timely processing, and effective coordination across internal and external stakeholders.

Issue Set-up & Pre-Opening Activities

• Track exchange intimation emails for new issues.
• Perform master creation/configuration in ASBA systems.
• Prepare and circulate issue opening communication.
• Prepare and upload CUG consolidated files.
• Coordinate with stakeholders for operational readiness.

B. Application Processing & Exchange Interaction

• Download and process application files from ASBA systems.
• Upload manual bids on exchange platforms (IPO/NCD).
• Process files received from Kotak Securities and other intermediaries.
• Download and validate exchange response files.
• Monitor and process QIB applications.
• Track and escalate pending applications; ensure closure-day processing within timelines.

C. UPI & ASBA Monitoring

• Perform daily UPI ASBA reporting.
• Handle closure-day UPI reporting and FC submission.
• Coordinate resolution of pending/failed UPI transactions.

D. Reconciliation & Exception Handling

• Perform daily and final reconciliation of ASBA applications.

• Identify and resolve discrepancies.

• Process:

• Cancellation and withdrawal requests

• Unblocking of funds

• Issue Annexure III to RTA.

E. Post-Closure Activities

• Circulate issue closing communication.

• Conduct T+1 third-party validations.

• Process NCD data uploads and broker/syndicate FC.

• Coordinate with CPC for:

• FD creation

• QIB lien removal/replacement

F. Allotment & Fund Management

• Prepare and upload allotment files.

• Perform allotment reconciliation and variance tracking.

• Authorize debit/release files and perform lien reconciliation.

• Prepare vouchers and execute:

• Fund transfers to issuer (ASBA/UPI)

• Anchor investor fund transfers

• Track allotment UTR, vouchers, and refund certificates.

G. Escrow Operations

• Maintain and track Escrow Agreements.
• Validate escrow instructions against agreements.
• Process escrow transactions and closure of escrow accounts.
• Coordinate resolution of discrepancies with Product team.

H. RTA & Stakeholder Coordination

• Liaise with RTA, exchanges, branches, LCC, UPI teams, and brokers.

• Issue:

• Annexure IV (post-allotment)

• FC formats and confirmations to RTA

• NOC to issuer companies

I. KYC & FIRC Processing

• Follow up with CPC for KYC & FIRC issuance.
• Prepare and validate KYC/FIRC documentation.
• Ensure proper record maintenance.

J. MIS, Reporting & Audit

• Maintain ASBA MIS and operational trackers.

• Publish periodic MIS (daily, fortnightly, closure reports).

• Prepare:

• SEBI half-yearly reports

• Audit data (Concurrent/Internal/IFC)

• Monitor daily ASBA accounts and balances.

K. Commission, Billing & Taxation

• Track and book ASBA/UPI commissions.
• Prepare invoices and follow up for recovery.
• Generate GST files and tax invoices via Suntec.

L. SGB & PFC Operations

• Process SGB transactions, reporting, and RBI/e-Kuber activities.

• Handle PFC (54EC Bonds):

• Reporting

• FC issuance

• Branch communication

M. Branch & Operational Support

• Resolve branch queries via calls/emails.
• Track physical application movement.

N. System & Administrative Activities

• Monitor SAP BO reports.
• Raise service requests for operational activities (allotment, escrow, etc.).
• Maintain issue trackers and operational logs.

O. Audit & Compliance

• Ensure adherence to SEBI, RBI, and internal compliance guidelines.
• Support concurrent and internal audits.
• Maintain audit-ready documentation and records.

4. Key Deliverables

• Timely and accurate IPO/NCD/SGB processing
• Error-free reconciliation and fund transfers
• Zero regulatory breaches

5. Key Stakeholders

• Stock Exchanges (NSE/BSE)

• Registrar & Transfer Agents (RTA)

• Internal Teams:

• CPC

• Branches / LCC

• Product

• UPI Team

• Accounts / Treasury

• External:

• Issuer Companies

• Brokers / Syndicates

• RBI (SGB operations)

6. Required Skills & Competencies

• Strong knowledge of ASBA / IPO / UPI processes
• Understanding of SEBI & RBI regulations
• Analytical and reconciliation skills
• High attention to detail
• Strong stakeholder management
• Ability to work in deadline-driven environment
• Effective communication skills

Preferred candidate profile

Key Performance Indicators (KPIs)

• TAT adherence across IPO lifecycle
• Reconciliation accuracy & error rates
• Timely closure of pending applications
• Fund transfer accuracy
• Audit compliance score
• Stakeholder satisfaction levels

Educational Qualifications & Experience

• Graduate / Postgraduate in Commerce, Finance, or related field
• 25+ years of experience in Capital Market / ASBA / IPO operations