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