SEBI Shortens Listing Timeline for Public Issue of Debt Securities & NCRPS to T+3 Working Days from T+6
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- By Chetan Kulasri
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- Last Updated on 28 September, 2024
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Circular No. 0SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2024/129, Dated 26.09.2024
In order to align the listing timeline in case of public issue of debt securities and Non-convertible Redeemable Preference Shares (NCRPS) with that of non-convertible securities issued on private placement basis & specified securities, SEBI has decided to reduce the listing timeline in case of public issue of debt securities and NCRPS to T+3 working days from existing timeline of T+6 working days.
Further, to ensure ease of compliance for issuers, the listing timeline of T+3 working days is introduced as an option to issuers for a period of one year and on a permanent basis thereafter such that all listings occur on a T+3 basis.
The provisions of this circular will apply on a voluntary basis to public issues of debt securities and Non-Convertible Redeemable Preference Shares (NCRPS) opening on or after November 1, 2024. However, it will become mandatory for public issues of debt securities and NCRPS opening on or after November 1, 2025.
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