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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Reduction of timeline for listing of shares in Public Issue from existing T+6 days to T+3 days

09-Aug-2023 | SEBI/HO/CFD/TPD1/CIR/P/2023/140

SEBI has issued a circular with respect to the Reduction of timeline for listing of shares in Public Issue from existing T+6 days to T+3 days and it shall be appropriately disclosed in the Offer Documents of public issues. By virtue of this circular, the Self Certified Syndicate Banks (SCSBs) shall ensure the following points prior to blocking of Application Supported by Blocked Amount (ASBA) application monies in the bank account of the applicant: 1. The PAN mentioned in the application matches the PAN linked to the bank account of the applicant maintained with the bank. 2. The PAN linked to the bank account of the applicant shall be part of the bidding data on the Stock Exchange platform. Further, the revised timelines for listing specified securities and various activities involved in the public issue process are specified in Annexure attached to this circular. The provisions of this circular shall be applicable: a) On a voluntary basis for public issues opening on or after 1st September 2023, and b) Mandatory for public issues opening on or after 1st December 2023

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