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of <h1>SEBI Updates IDR Offering Rules: Minimum Extension Period Reduced to One Day in Special Circumstances</h1> An initial public offer of Indian Depository Receipts (IDRs) must remain open for at least three working days and not exceed ten working days, as per SEBI regulations. If the price band is revised, the issuer must extend the bidding period by at least three working days. In unforeseen circumstances like a force majeure or banking strike, the issuer may extend the issue period by at least one working day, with reasons documented in writing, while adhering to these regulations. Recent amendments have updated the minimum extension period from three to one working day in such cases.
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