At its board meeting in June, the SEBI board had approved the proposal for reducing the time period for listing of shares in a public Issue from the existing six days to three days, from the date of issue closure (T Day). It had said that the revised timeline of T+3 days will be made applicable in two phases.
"The decision to reduce the timeline for listing follows extensive consultation with all stakeholders, including anchor investors, registrar and transfer agents, broker-distributors, banks, etc. Extensive stress testing has been done to confirm that the transition to T+3 would be smooth," SEBI had said at its board meeting.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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