Sebi halves listing timeline to 3 days post IPO closure

Mumbai, Aug 10, 2023

The Securities and Exchange Board of India (Sebi) on Wednesday reduced the timeline for listing of securities after the closing of an initial public offering (IPO) to three days from the present requirement of six working days.

This will be an option for IPOs opening after September 1, 2023, and will be mandatory for public issues opening after December 1, 2023.

The regulator said reduction in timelines for listing and trading of shares will benefit both issuers and investors.

Issuers will have faster access to the capital raised thereby enhancing the ease of doing business, and the investors will have opportunity for having early credit and liquidity of their investments.

Sebi said the Registrar to an issue should undertake third-party verification of the applications by matching the PAN available in the demat account with the PAN available in the bank account of the applicant.

[The Economic Times]