Dear Sir\Madam
The Securities and Exchange Board of India (SEBI) has issued circular no. SEBI/HO/CFD/TPD1/CIR/P/2023/140 dated August 9, 2023, regarding reduction of timeline for listing of shares in Public Issue from existing T+6 days to T+3 days.
SEBI vide this Circular has 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.
Further, SEBI vide this Circular has provided indicative timeline of activities for listing of shares through Public Issues on T+3 day.
The revised timelines for listing of specified securities and various activities involved in the public issue process are specified in Annexure to this circular.
The T+3 timeline for listing shall be appropriately disclosed in the Offer Documents of public issues.
The provisions of this circular shall be applicable:
a) On voluntary basis for public issues opening on or after September 1, 2023, and
b) Mandatory for public issues opening on or after December 1, 2023
The aforesaid circular is attached for reference.
All Listed companies are requested to take note of the above.
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Ashok kumar Singh
DGM-Listing Compliance
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Shyam Bhagirath
Manager-Listing Compliance
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