Thursday August 10 2023
News Source: Global Exchanges
Focus: Listing Rules
Type: General
Country: India
On 9th August 2023, the Securities and Exchange Board of India (SEBI) published a circular on reduction of timeline for listing of specified securities after the closure of public issue to 3 working days (T+3 days) as against the present requirement of 6 working days (T+6 days); ‘T’ being issue closing date.
The T+3 timeline for listing shall be appropriately disclosed in the Offer Documents of public issues.
The timelines for submission of application, allotment of securities, unblocking of application monies and listing shall prominently be made a part of pre-issue, issue opening and issue closing advertisements issued by the Issuer for public issues in terms of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations).
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