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TMI BlogReduction of timeline for listing of shares in Public Issue from existing T+6 days to T+3 daysX X X X Extracts X X X X X X X X Extracts X X X X ..... he market participants and considering the public comments received pursuant to consultation paper on the aforesaid subject matter, it has been decided to reduce the time taken for listing of specified securities after the closure of public issue to 3 working days (T+3 days) as against the present requirement of 6 working days (T+6 days); T being issue closing date. 2. Accordingly, the revised timelines for listing of specified securities and various activities involved in the public issue process are specified in Annexure to this circular. 3. The T+3 timeline for listing shall be appropriately disclosed in the Offer Documents of public issues. 4. The timelines for submission of application, allotment of securities, unblocking of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... odification to circulars dated March 16, 2021 and April 20, 2022 , the compensation to investors for delay in unblocking of ASBA application monies (if any) shall be computed from T+3 day. Applicability of this circular 9. Notwithstanding anything contained in Schedule VI of the ICDR Regulations , the provisions of this circular shall be applicable: - On voluntary basis for public issues opening on or after September 1, 2023 and - Mandatory for public issues opening on or after December 1, 2023. 10. The timelines prescribed for public issues as mentioned in SEBI circulars dated November 1, 2018 , June 28, 2019, November 8, 2019 , March 30, 2020, March 16, 2021 , June 2, 2021, and April 20, 2022 shall stand mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date up to 5 pm on T day Validation of bid details with depositories From Issue opening date up to 5 pm on T day Reconciliation of UPI mandate transactions (Based on the guidelines issued by NPCI from time to time): Among Stock Exchanges Sponsor Banks NPCI and NPCI PSPs/TPAPs** Issuer Banks; Reporting formats of bid information, UPI analysis report and compliance timelines. On Daily basis Merchant Bankers to submit to SEBI, as and when sought. UPI Mandate acceptance time T day 5 pm Issue Closure ..... X X X X Extracts X X X X X X X X Extracts X X X X
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