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of <h1>SEBI Circular Cuts Equity Listing Time to 6 Days, Expands Application Points, and Mandates ASBA for Payments.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) aims to streamline the process for public issues of equity shares and convertibles. It reduces the time for listing shares post-issue closure from 12 to 6 working days and broadens investor access by enhancing application submission points. The circular mandates the use of the Application Supported by Blocked Amount (ASBA) facility for payments and permits registered intermediaries to accept applications. It requires intermediaries to upload bid details electronically and introduces SMS and email alerts for investors. The circular is applicable to public issues opening on or after January 1, 2016.
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