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<h1>Trade controls for IPO trading: first-day post-call-auction price bands and TFT trading enforced in normal session</h1> SEBI requires normal trading for IPO and re listed scrips on the first trading day to commence only after the Call Auction, with first day price bands set by issue size and anchored to the Call Auction equilibrium price or the issue price if no equilibrium is discovered. IPO and re listed scrips must trade in the TFT segment for the first ten days; re listed scrips that yield no equilibrium price in the Call Auction must continue in Call Auction sessions until price determination. Exchanges must implement systems, amend rules, disseminate the measures and report implementation to SEBI.