The mandate for the agency is to receive grievances from investors through physical or electronic mode and categorise them.
It will also track complaints' status online and conduct follow-ups, besides preparing action taken reports (ATRs) and updating the status of grievances on Sebi's online platform for complaints, SCORES.
Applications for the tender have to be submitted with Sebi by July 4.
The Securities and Exchange Board of India (Sebi) has developed the Web-based centralised grievance redressal system SCORES, which registers and tracks investor complaints against listed entities.
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As per Sebi's eligibility criteria, the agency should be registered and have an established office in Mumbai with adequate infrastructure, support staff and supervisors.
The agency will also be required to have an expertise in handling registrar and transfer activities or depository services (who are registered with Sebi as intermediaries).
Besides, those that have handled investor matters for at least seven years in PSUs, PSU banks, financial institutions, autonomous bodies and listed companies, among others, can also apply.
The scope of work for the agency will also include despatching complaints to intermediaries or companies as well as mail acknowledgment letters to investors.
It will also maintain a proper storage facility of the complaints received and action taken reports (ATRs) for two years.
Faster resolution of grievances through implementation of SCORES, in June 2011, has helped bring down the number of pending complaints significantly.
The outstanding complaints had come down to record low of 5,700 in 2014-15, which stood at 49,113 at the end of 2008-09 and have dropped ever since.