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<h1>SEBI Introduces New Framework for Rights Issue Process; Completion Mandated Within 23 Working Days Starting April 2025</h1> The Securities and Exchange Board of India (SEBI) has issued a circular introducing a new framework for the Rights Issue process, effective from April 7, 2025. The framework mandates completion of Rights Issues within 23 working days from the approval by the issuer's Board of Directors. The subscription period for Rights Issues is set between 7 to 30 days. Stock Exchanges and Depositories are tasked with developing an automated system for validating application bids within six months. The circular necessitates modifications to existing regulations and requires stakeholders to update their systems accordingly. The changes aim to streamline the process and protect investor interests.