Listing timeline reduction for InvIT units accelerates allotment and commencement of trading after issue closure. The circular shortens the post-issue timeline for InvIT public issues, requiring completion of allotment and listing within six working days from issue closure. It prescribes a T to T+6 schedule assigning duties to stock exchanges, RTAs, SCSBs, investment managers and merchant bankers for bid modification and transmission, fund blocking and certification, technical rejection reconciliation, basis of allotment finalisation and approval, transfer of sponsor assets, credit of units, demat confirmation, unblocking of ASBA funds, and filing of listing application. Applicable to issues opening on or after June 1, 2022.
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Provisions expressly mentioned in the judgment/order text.
Listing timeline reduction for InvIT units accelerates allotment and commencement of trading after issue closure.
The circular shortens the post-issue timeline for InvIT public issues, requiring completion of allotment and listing within six working days from issue closure. It prescribes a T to T+6 schedule assigning duties to stock exchanges, RTAs, SCSBs, investment managers and merchant bankers for bid modification and transmission, fund blocking and certification, technical rejection reconciliation, basis of allotment finalisation and approval, transfer of sponsor assets, credit of units, demat confirmation, unblocking of ASBA funds, and filing of listing application. Applicable to issues opening on or after June 1, 2022.
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