Their new tech appetite got fulfilled with the operating of C-ASBA by CDS & Clearing. Implementation of meroshare software under C-ASBA has drastically increased the number of investors who use the online system for share application.
It can be seen in the recently issued IPOs of Nepal Reinsurance, NIC Asia Laghubitta and Sadhana Laghubitta. A total of 70.95 percent of the total applications were received through C-ASBA in these issues. Out of 1,260,030 applicants, 894,053 applicants applied through online medium. The remaining was applied through the ASBA system.
Comparatively, the number of online applicants seems to be gradually increasing. In the IPO of Nepal Reinsurance, out of 409,849 applicants, 284,000 people applied through online. Only 124,000 applicants went to the bank and applied through the ASBA system.
Similarly, in the IPO of NIC Asia Laghubitta, 286,044 applicants out of 414,322 applicants applied through the online system. Likewise, in the IPO of Sadhana Laghubitta, 324,009 applicants out of 114,322 applicants (till 3:00 PM on July 8) applied through the online system.
The users of C-ASBA increased drastically after 28 months since its operating. Securities Board of Nepal (SEBON) implemented C-ASBA in a bid to modernize the stock market.
