Call Auction in Pre-open session for Initial Public Offering (IPO) and other category of scrips

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....r National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex Bandra (E) Mumbai - 400 051 Dear Sir, Sub: Call Auction in Pre-open session for Initial Public Offering (IPO) and other category of scrips 1. SEBI, vide circular no. CIR/MRD/DP/21/2010 dated July 15, 2010 introduced Call Auction in Pre-open session (hereinafter referred to as "pre-open session") for t....

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....on, 10 minutes for order matching and trade confirmation and the remaining 5 minutes shall be the buffer period to facilitate the transition from preopen session to the normal trading session. The session shall close randomly during last one minute of order entry i.e. anytime between 44th and 45th minute of the order entry. Such random closure shall be system driven. 4. Eligible Scrips I.....

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.... i. In case equilibrium price is discovered, all outstanding orders shall be moved to the normal trading session at their limit price. ii. In case equilibrium price is not discovered, all orders shall be cancelled and the scrip shall continue to trade in call auction mechanism until price is determined. 5. Risk Management - For IPO scrips with an issue size greater than Rs. 250 cr the....

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.... shall be uniform between both the stock exchanges. 8. SEBI vide circular no CIR/MRD/DP/02/2012 dated January 20, 2012 has prescribed the Trade Controls applicable to trading of IPO and Re-listed scrips in the normal trading session. 9. Stock Exchanges are advised to: . a. take necessary steps and put in place necessary systems for implementation of the above. b. make neces....