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Sponsor Banks definition

Sponsor Banks shall have the meaning given to such term in the Preamble; “Stock Exchanges” shall mean BSE and NSE;
Sponsor Banks means Axis Bank Limited and HDFC Bank Limited, being Banker to the Offer registered with SEBI, appointed by the Company to act as a conduit between the Stock Exchanges and NPCI in order to push the mandate collect requests and/ or payment instructions of UPI Bidders using the UPI Mechanism, in terms of the UPI Circulars;
Sponsor Banks shall have the meaning ascribed to such term in the Preamble to this Agreement;

Examples of Sponsor Banks in a sentence

  • The fees payable to the Sponsor Banks for services provided in accordance with Applicable Law, the guidelines issued by the NPCI and terms of this Agreement shall be in accordance with the commercial arrangements agreed between the Company and the respective Sponsor Bank per block created for valid Bid cum Application Forms (plus applicable taxes) using the UPI Mechanism.

  • The Company shall also ensure that (a) the aggregate amount of commission and processing fees payable to the SCSBs and the Sponsor Banks; (b) any amounts payable to the Depositories and the Registrar to the Offer; and (c) any other expenses in connection with the Offer including roadshow expenses, advertisement and media expenses shall be made at the relevant time from the Company’s account.

  • The Sponsor Banks, based on the UPI Mandate Request approved by the respective UPI Bidders at the time of blocking their funds, will raise the debit/collect request from the respective ASBA Account and issue necessary instructions, whereupon the funds will be transferred from such ASBA Account to the Public Offer Account based on the finalized basis of allocation and the remaining funds, if any, will be unblocked without any manual intervention by the UPI Bidder.

  • The Company (on behalf of itself and the Selling Shareholders) will make the payment only to the Sponsor Banks, which in turn shall make the requisite payments to the NPCI and the SCSBs where the accounts of the Bidders, linked to their UPI ID, are held and such other parties as required in connection with the performance of the Sponsor Banks’ duties under the SEBI Regulations and other Applicable Law.

  • The specimen signatures for the purpose of instructions to the Escrow Collection Bank, the Public Offer Account Bank, the Refund Bank and the Sponsor Banks are as follows: For the Company, as set out in Annexure L.


More Definitions of Sponsor Banks

Sponsor Banks means a bank registered with SEBI, which has been appointed by the Company, the Promoter Selling Shareholder to act as a conduit between the Stock Exchanges and NPCI in order to push the mandate collect requests and / or payment instructions of the Retail Individual Bidders and carry out any other responsibilities, in terms of the UPI Circulars, in this case being Axis Bank and HDFC Bank.
Sponsor Banks has the meaning attributed to such term in the preamble of this Agreement.
Sponsor Banks has the meaning attributed to such term in the Offer Documents.
Sponsor Banks means the bankers to the Offer, who are appointed by the Company to act as a conduit between the Stock Exchanges and NPCI in order to push the mandate collect requests and/or payment instructions of the UPI Bidders using the UPI Mechanism and carry out any other responsibilities in terms of the SEBI UPI Circulars.
Sponsor Banks mean the banks / entities which are authorised to implement the E-Mandate Payments by inter alia receiving API calls from Razorpay for initiating E-Mandate Payments, communicating the necessary E-Mandate Registration information to NPCI, authentication by the Destination Bank and deduction of Bank Accounts, all in accordance with the Procedural Guidelines.
Sponsor Banks or “Sponsor Bank” shall have the meaning ascribed to such term in the Preamble;
Sponsor Banks means Bank(s) registered with SEBI which has been appointed by the Company to act as a conduit between the Stock Exchanges and the National Payments Corporation of India in order to push the mandate collect requests and/ or payment instructions of the UPI Bidders and carry out other responsibilities, in terms of the UPI Circulars, in this case being ICICI Bank Limited and HDFC Bank Limited;