The Securities and Exchange Board of India, (SEBI) on September 26, 2024, issued reduction in the timeline for listing of debt securities and Nonconvertible Redeemable Preference Shares to T+3 working days from existing T + 6 working days (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).
To expedite fund access for issuers and enhance liquidity for investors, SEBI has reduced the listing timeline for public issues of debt securities and non-convertible redeemable preference shares (NCRPS) from T+6 to T+3 working days. This change will be optional for issuers starting November 1, 2024, and mandatory from November 1, 2025. Issuers opting for the T+3 timeline must disclose it in offer documents, and stock exchanges will oversee compliance. The timeline adjustment aims to align public issues with private placements for faster market listing.
[Notification No. SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2024/129]
