SEBI Cuts Down Listing Time For IPOs to 12 Days
SEBI has proposed to cut down the listing time for companies from existing 22 days to 12 days. This new rule will be effective from May 1.
Also, the Application Supported by Blocked Amount (ASBA) facility would undergo certain modification for achieving consistency with the reduced timeline.
With effect from January 1, Sebi extended the ASBA facility to corporate investors and HNIs to enable them to apply for IPOs or right issues by keeping the application money in their bank account till allotment. Earlier this facility was available to retail investors only.
This move could help the rotation of investor's money faster for deployment in other areas.
Transaction Reference: BS
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