IPO listing time should be cut to 7 days: Bhave
Sebi Chairman, CB Bhave, feels that the primary market is still somewhat inefficient compared to the secondary market. For making it upto level he wants to bring down the time required for IPO processing to 7 days from 20 days at present.
He said the timely settlement of transactions continue to be a challenge in the system. Also, there is a need to reduce the cost of mutual funds and the risk of investors.
The markets regulator also plans to carry through more reforms to make mutual funds attractive for investors, including giving a single statement for all holdings of an individual across all schemes of a fund.
Shortening the IPO time-frame is a fantastic thing in the long run. It reduces the infrastructural stress and also captures current volatility a lot better, said S Ramesh, COO, Kotak Mahindra Investment Banking.
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