Bidding Form

There should be a standard bidding form to ensure uniformity and accuracy. It should contain information about the investor and price and number of securities that the investor wishes to bid for. Before being issued to the bidder, the form should be serially numbered at the bidding centers and date and time stamped. The serial number may be system generated or stamped with an automatic numbering machine. The bidding form should be issued in duplicate, signed by the investor and countersigned by the syndicate member, with one form for the investor and the other for the syndicate members(s) book runner(s).

At the end of each day of the bidding period, the demand should be shown graphically on the terminals for information of the syndicate members/investors. The identifies of the QIBs should not be made public. The stock exchange should by the end of each day in order date of valid orders to the registrar to the issue and lead manager/book runner(s). On the closure of the issue, the final status of the orders received should be sent to them.

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