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Sebi mulling reducing listing of shares after IPO closing to 5 days

Sebi mulling reducing listing of shares after IPO closing to 5 days
PTI
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First Published: Fri, Sep 11 2009. 12 54 AM IST
Updated: Fri, Sep 11 2009. 12 54 AM IST
Mumbai: Market regulator Sebi’s primary market advisory committee in its meeting on Thursday is understood to have discussed the issue of reducing the time taken for listing of shares after closing the IPO issue to five days.
At present, it takes about 15 days from issue closing to allotment of shares and seven more days for listing of the company.
When contacted, Deepak Parekh, chairman of the committee declined to give details of the meeting. He simply said that “the committee is a part of carrying forward financial sector reforms.”
Sebi chairman CB Bhave has expressed himself in favour of shortening the entire IPO process from issue closing to listing to just five days. The regulator is also understood to be discussing the issue with merchant bankers.
Another issue on the agenda was with regard to Qualified Institutional Buyers (QIBs), where again, the market regulator is understood to be considering reducing the time limit during which QIBs can apply when an IPO is open for subscription.
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First Published: Fri, Sep 11 2009. 12 54 AM IST
More Topics: Sebi | IPO | Shares | India | BSE |