SEBI Shortens Listing Timeline for Debt Securities to T+3 Days, Enhancing Liquidity and Speeding Fund Access.

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....SEBI has decided to reduce the timeline for listing of debt securities and non-convertible redeemable preference shares (NCRPS) issued through public issues from T+6 working days to T+3 working days. This move aims to facilitate faster access to funds for issuers and provide early credit and liquidity for investors. Initially, the T+3 listing timeline will be optional for issuers for one year, after which it will become mandatory. During the voluntary period, provisions related to refund of application money will apply only after T+6 days, even if the issuer opts for T+3 listing but fails to meet it. The circular provides an indicative timeline for activities involved in the public issue process under the T+3 regime. Stock exchanges will monitor compliance and the provisions will be applicable from November 1, 2024 on a voluntary basis and November 1, 2025 mandatorily.....