Companies that will now opt for their Initial Public Offerings next month onwards will get listed on the stock market comparatively sooner than the already listed ones.
The revised timeline of T+3 days will be made applicable in two phases i.e. voluntary for all public issues opening on or after September 1, 2023 and mandatory on or after December 1, 2023,’ says SEBI.
The decision was taken in a meeting chaired by the key board members of SEBI.
The SEBI board has taken this decision been taken after constructive decisions with all the involved stakeholders.
SEBI believes that this revised timeline will help the issuers in a way that they would receive their funds and allottees would receive their securities in a shorter time period than what was previously.
Securities and Exchange Board of India), as per its circular dated August 9, 2023, announced the following changes:
Source- SEBI website, Indiatimes news
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