Mumbai: The Securities and Exchange Board of India (Sebi) has halved the listing time for companies on stock exchanges to three days from the end of their initial public offering (IPO).
On 28 June, the Sebi board approved a proposal to reduce the time for listing public shares from six to three days. A consultation paper in this regard was floated by the regulator in May. The reduction aims to enhance the ease of doing business for issuers and provide investors with quicker access to capital and liquidity.
According to the circular on Wednesday, the revised T+3 days timeline will be rolled out in two stages. Initially, it will be voluntary for all public issues on or after 1 September, becoming mandatory from 1 December onwards.
“Consequent to extensive consultation with the market participants and considering the public comments received pursuant to the consultation paper on the aforesaid subject matter, it has been decided to reduce the time taken for the listing of specified securities after the closure of a public issue to three working days (T+3 days) as against the present requirement of 6 working days(T+6),” Sebi said in a four-page circular .
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
Updated: 09 Aug 2023, 11:57 PM IST
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
