CURRENT AFFAIRS: BANKING & FINANCE
SEBI changes IPO rules & listing time cut to 3 days from 6 days
- Capital markets regulator Securities and Exchange Board of India (SEBI) halved the timeline for listing of shares on stock exchanges after the closure of Initial Public Offerings (IPOs) to 3 days from 6 days at present.
- The new listing timeframe will be voluntary for all public issues opening on or after September 1, 2023, and mandatory for all the issues which come after December 1, 2023.
- Under the new guidelines, IPOs will have to mandatorily list after 3 days of the issue closing date.
- The move came after SEBI’s board cleared a proposal regarding the same in June 2023.
