The Bombay Stock Exchange (BSE) on June 07, 2023, notified regarding the enhancement in the Special Pre-open session for first-day trading of IPO and Re-listed securities.
The following shall be applicable to trading on the first day of IPO and relisting:
• Call Auction sessions would continue to be conducted separately on individual exchanges and orders would be matched by respective exchanges after the computation of the equilibrium price.
• If there is a difference in the equilibrium price between Exchanges in percentage terms (i.e. absolute difference/minimum of equilibrium prices, expressed as %) is more than the applicable price band for the scrip, a Common Equilibrium Price (CEP) would be computed by exchanges. The CEP shall be the volume-weighted average of equilibrium prices on individual exchanges as determined by the Call Auction.
• The Exchanges shall set the aforesaid CEP in their trading systems and apply uniform price bands based on the CEP, as applicable.
• Only unexecuted pending orders from the Call Auction session within the aforesaid price band shall be carried forward to the normal market segment.
The changes shall be effective from June 12, 2023.
[Notice No. 20230607-54]
