Listing timeline reduction: REIT public issues must complete allotment, demat credit and trading commencement within six working days. The circular mandates completion of allotment, demat credit and commencement of trading of REIT units within six working days from issue closure, detailing day-by-day obligations: stock exchanges to allow bid modifications and approve allotment basis; RTAs to reconcile electronic bid files, perform technical rejection testing, finalise basis of allotment and obtain demat confirmations; SCSBs to block and transfer funds; managers and merchant bankers to initiate corporate actions, file allotment and demat confirmations and apply for listing. The measure applies to public issues opening on or after June 01, 2022 under the regulator's enacted powers.
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 timeline reduction: REIT public issues must complete allotment, demat credit and trading commencement within six working days.
The circular mandates completion of allotment, demat credit and commencement of trading of REIT units within six working days from issue closure, detailing day-by-day obligations: stock exchanges to allow bid modifications and approve allotment basis; RTAs to reconcile electronic bid files, perform technical rejection testing, finalise basis of allotment and obtain demat confirmations; SCSBs to block and transfer funds; managers and merchant bankers to initiate corporate actions, file allotment and demat confirmations and apply for listing. The measure applies to public issues opening on or after June 01, 2022 under the regulator's enacted powers.
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