Synchronise IPO listing: Sebi

Synchronise IPO listing: Sebi

To check transfer of shares and other securities issued through public offers and other issues even before listing, Sebi on Wednesday asked the stock exchanges to synchronise their listing dates and trading approvals with each other for fresh shares.

The move follows a Sebi directive last month barring the activation of International Securities Identification Number (ISIN) codes of additional securities being issued through follow-on public offers (FPOs), rights issue, preferential allotment and bonus issues.

In a circular issued on Wednesday, Sebi further widened scope of such additional shares and said that the directive would apply to any shares or securities being issued through any means and said that such securities would remain frozen till the time final listing or trading permission is granted by the exchange. The stock exchanges are advised to provide the details to the depositories whenever final listing or trading permission is given to securities.

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