Sebi proposes to reduce IPO process time
Monday, 24 November 2014
NEW DELHI, Nov 23 (Economic Times): Market regulator Securities and Exchange Board of India (Sebi) is proposing to shrink the time taken for initial public offer (IPO) process to six-seven days from about 12 days now, as part of its plan to make capital raising easier for companies.
"The Sebi board at its meeting last week approved e-IPO (electronic-initial public offering) discussion... Discussion paper would be made public soon. Our aim is to bring down T+12 to T+5 or T+6 for listing," Sebi chairman UK Sinha told reporters after inaugurating BSE's new investor service centre in the capital on Saturday.
E-IPO will take a leaf out from the present secondary market mechanism for issuance of shares.