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TMI BlogCall Auction in Pre-open session for Initial Public Offering (IPO) and other category of scripsX X X X Extracts X X X X X X X X Extracts X X X X ..... za, Bandra Kurla Complex Bandra (E) Mumbai - 400 051 Dear Sir, Sub: Call Auction in Pre-open session for Initial Public Offering (IPO) and other category of scrips 1. SEBI, vide circular no. CIR/MRD/DP/21/2010 dated July 15, 2010 introduced Call Auction in Pre-open session (hereinafter referred to as "pre-open session") for the scrips forming part of Sensex and Nifty. Further, SEBI, vide circ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 minutes shall be the buffer period to facilitate the transition from preopen session to the normal trading session. The session shall close randomly during last one minute of order entry i.e. anytime between 44th and 45th minute of the order entry. Such random closure shall be system driven. 4. Eligible Scrips I. IPO scrips on the first day of trading a. Price Bands There shall be no price ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eir limit price. ii. In case equilibrium price is not discovered, all orders shall be cancelled and the scrip shall continue to trade in call auction mechanism until price is determined. 5. Risk Management - For IPO scrips with an issue size greater than ₹ 250 cr the risk management provisions as prescribed vide SEBI circular dated July 15, 2010 and letter dated September 17, 2010 shall r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prescribed the Trade Controls applicable to trading of IPO and Re-listed scrips in the normal trading session. 9. Stock Exchanges are advised to: . a. take necessary steps and put in place necessary systems for implementation of the above. b. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision. c. bring the provisions of thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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