SEBI plans to further simplifies IPO process : From present 12 days to 7 days

by khalid on 23/11/2010 · 0 comments

Market Regulator SEBI Chairman, CB Bhave, said 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 12 days at present.

This means, retail investors who apply for an issue through ASBA (application supported by blocked amount), can get back their money on the seventh day itself if they fail to get allotment. Through ASBA investors can apply for an IPO, keeping the application money in their bank accounts till the finalisation of the allotment. Now the investors don’t have to wait 12 days for en-cashing the IPO benefits.

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