Sebi tells companies to list within six days of IPO

All days, excluding Sundays and bank holidays, would be considered as working

Update: 2015-11-11 01:33 GMT
The regulator ordered the company and directors to refund the money raised through RPS along with an interest of 15 per cent per annum (Representational Image)
New Delhi: Sebi on Tuesday asked stock exchanges and other market intermediaries to ensure that companies get listed within six working days of completing their initial share sale and the norms would be effective from January 2016.
 
To ensure more transparency, the bourses would also be required to provide investors with details about status of their public issue applications through SMS and e-mail.
 
As part of streamlining the process for public issue of shares and convertibles, Sebi has reduced the time taken for getting listed to six working days from earlier 12 days from the day the offer is closed. Regulations in this regard have been notified by the regulator.
 
All days, excluding Sundays and bank holidays, would be considered as working. In a circular providing detailed guidelines, the market regulator said all intermediaries should co-ordinate with one another to ensure completion of listing of shares and commencement of trading by T+6.

 

 

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