Listing procedure: exchanges must grant in principle and final approvals to expedite commencement of trading per revised timelines. Issuers must file draft offer documents with SEBI and simultaneously with all proposed listing exchanges. Exchanges must accept or decline in principle approval within fifteen days, and the lead manager must furnish all such approvals to SEBI; without approvals from all exchanges the issue cannot proceed. In principle approvals must be disclosed in the offer document. After finalising the basis of allotment, despatch of certificates/refunds/demat credit and submission of allotment and listing documents must be completed within two working days, the regional exchange must give final approval within three working days, other exchanges shall grant automatic approval thereafter, and the lead manager must ensure listing and commencement of trading at all exchanges within seven working days.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Listing procedure: exchanges must grant in principle and final approvals to expedite commencement of trading per revised timelines.
Issuers must file draft offer documents with SEBI and simultaneously with all proposed listing exchanges. Exchanges must accept or decline in principle approval within fifteen days, and the lead manager must furnish all such approvals to SEBI; without approvals from all exchanges the issue cannot proceed. In principle approvals must be disclosed in the offer document. After finalising the basis of allotment, despatch of certificates/refunds/demat credit and submission of allotment and listing documents must be completed within two working days, the regional exchange must give final approval within three working days, other exchanges shall grant automatic approval thereafter, and the lead manager must ensure listing and commencement of trading at all exchanges within seven working days.
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