Report by the Secretariat (WT/TPR/S/249 05), page 155,paragraph 112
Other policy initiatives include changes to the regulatory environment, such as a reduction of the timelines for public issue; simplified listing requirements for Indian depository receipts (IDRs) issued by companies from IOSCO MMoU signatories; a liberalization of the overseas investment regime for mutual funds, and the abolition of an entry load for all mutual fund schemes; and promotion of an initiative to develop the still incipient Corporate Bond Market.
Paragraph 112 states that there has been a reduction of timeline for public issues of securities. Can India please provide more details i.e. how much improvement in terms of reduction of timeline has been achieved in this regard?
Reply: Earlier, it used to take 22 calendar days to list the securities of a company in a public issue after closure of the issue. In line with SEBI's endeavour to reduce the exposure of issuers/investors to volatility in market conditions and enable quicker turnaround of money invested, timelines between issue closure and listing have been reduced from 22 calendar days to 12 working days. This has come into force w.e.f. 1 May 2010.
