TaxTMI 
TaxTMI 
Reduction of timeline for listing of shares in Public Issue from existing T+6 days to T+3 days
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....public comments received pursuant to consultation paper on the aforesaid subject matter, it has been decided to reduce the time taken for listing of specified securities after the closure of public issue to 3 working days (T+3 days) as against the present requirement of 6 working days (T+6 days); 'T' being issue closing date. 2. Accordingly, the revised timelines for listing of specified securities and various activities involved in the public issue process are specified in Annexure to this circular. 3. The T+3 timeline for listing shall be appropriately disclosed in the Offer Documents of public issues. 4. The timelines for submission of application, allotment of securities, unblocking of application monies and listing shall prominently....
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....e compensation to investors for delay in unblocking of ASBA application monies (if any) shall be computed from T+3 day. Applicability of this circular 9. Notwithstanding anything contained in Schedule VI of the ICDR Regulations, the provisions of this circular shall be applicable: - On voluntary basis for public issues opening on or after September 1, 2023 and - Mandatory for public issues opening on or after December 1, 2023. 10. The timelines prescribed for public issues as mentioned in SEBI circulars dated November 1, 2018, June 28, 2019, November 8, 2019, March 30, 2020, March 16, 2021, June 2, 2021, and April 20, 2022 shall stand modified to the extent stated in this Circular. 11. This Circular is being issued in exercise of th....
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....mation, UPI analysis report and compliance timelines. On Daily basis Merchant Bankers to submit to SEBI, as and when sought. UPI Mandate acceptance time T day - 5 pm Issue Closure T day - 4 pm for QIB and NII categories T day - 5 pm for Retail and other reserved categories Third party check on UPI applications On daily basis and to be completed before 9:30 AM on T+1 day. Third party check on Non- UPI applications. On daily basis and to be completed before 1 pm on T+1 day. Finalization of rejections and completion of basis Before 6 pm on T+1 day. Approval of basis by Stock Exchange Before 9 pm on T+1 day. Issuance of fund transfer instructions in separate files for debit and unblock. For Bank ASBA and Online....