SEBI: REDUCING TIMELINE FOR SHARE LISTING TO 3 DAYS
The regulator SEBi said it will cut down the
listing period after an initial public offering (IPO) to T+3 from T+6 now. This
means a company will get to list 3 days after the IPO as against 6 at present.
“The board has, in principle, approved the
proposal of revisiting the public issue process by way of introducing the use
of Unified Payment Interface (UPI) with facility of blocking the funds (ASBA
facility), as a new payment mechanism for retail investor applications
submitted through intermediaries,” SEBI said in a release.
Under Applications Supported by Blocked Amount,
or ASBA, money isn’t debited until shares are allotted.
FOREIGN INVESTOR PARTICIPATION IN COMMODITIES
The regulator approved rules for permitting
foreign entities to have exposure to Indian commodity markets. Such entities
would be classified as “eligible foreign entities.”
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