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Reduced IPO listing time within a year: Sebi

Reduced IPO listing time within a year: Sebi
PTI
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First Published: Mon, Nov 23 2009. 07 29 PM IST
Updated: Mon, Nov 23 2009. 07 29 PM IST
New Delhi: Market regulator Sebi on Monday exuded confidence that decision on reducing listing time for companies to seven days after close of an IPO could be made in a year’s time, even as a number of entities will have to be involved in the process.
The decision to reduce IPO processing time from the present 21 days would be good for the companies as well, Sebi chairman CB Bhave told news channel CNBC TV 18.
“There are many people involved in it. The stock exchanges, merchant bankers, bankers to the issues, registrar. All these people should be brought to one table and then how to reduce the timeline, we are thinking on it. And we think that within a year to achieve this target is possible for the markets,” Bhave said.
He said the proposed move will also be beneficial for the companies as the mopped up amount cannot be used unless the company is listed.
“It is a good step even from the point of view of companies. I think they would welcome the measure,” Bhave said.
He, however, said infrastructure should be upgraded to implement the decision of reducing IPO processing time.
Bhave said settlement process in the secondary market has been reduced over time, and now primary markets should be reformed.
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First Published: Mon, Nov 23 2009. 07 29 PM IST
More Topics: Sebi | IPO | Stocks | Shares | CB Bhave |