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of <h1>SEBI Introduces UPI for Equity Public Issues to Boost Efficiency and Reduce Listing Time by Three Days.</h1> The circular issued by SEBI aims to streamline the process of public issues of equity shares and convertibles by introducing the Unified Payments Interface (UPI) as a payment mechanism alongside the existing Application Supported by Blocked Amount (ASBA) system. This change is intended to enhance efficiency, reduce manual intervention, and shorten the time from issue closure to listing by up to three working days. The implementation will occur in phases, starting from January 1, 2019, with UPI becoming mandatory for retail individual investors. The circular outlines the roles of various entities, including stock exchanges, banks, and intermediaries, and sets guidelines for certification and compliance.
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