SEBI Mulls To Cut IPO Listing Time To 4 Days

The Securities and Exchange Board of India (SEBI) is planning to cut the listing time to four working days from the current six and reduce the size of share sale documents in its June 21 meeting.

This move will allow alternative investment funds (AIFs) to invest in commodity derivatives and tighten rules for participatory notes (P-Notes), reported a national news agency.

“Some companies are now listing in less than six days. To ensure this timeline for all companies, banks can work on confirming blocking of application money and bidding on a real-time basis,” said Mahavir Lunawat, Group Managing Director of investment bank Pantomath Advisory Services Group.

The offer documents consist 400-500 pages and investors find it difficult to get key information. Therefore, SEBI in December 2015 had notified a five-sheet abridged prospectus for public offerings.

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