Definition
Registrar to an Issue
The registrar is the SEBI-registered intermediary that processes IPO applications, finalises the basis of allotment and handles refunds and share credits.
Also called the Registrar and Transfer Agent (RTA), this entity collects and validates applications, reconciles ASBA blocks, prepares the basis of allotment with the exchange, and ensures shares are credited to demat accounts and unblocked funds released. Well-known Indian registrars include firms like KFintech and Link Intime.
Investors check allotment status on the registrar's website using their PAN or application number. The registrar's accuracy is critical, as it directly determines who gets shares and who gets refunds.
Related terms
- ASBAASBA (Application Supported by Blocked Amount) is the mechanism where IPO application money stays blocked in the investor's bank account until shares are allotted.
- Basis of AllotmentThe basis of allotment is the formula, approved by the exchange, that decides how shares are distributed among applicants when an IPO is oversubscribed.
- Merchant Banker / BRLMA merchant banker, acting as Book Running Lead Manager (BRLM), is the SEBI-registered intermediary that manages an IPO from filing to listing.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.