Sebi Trims Listing Time To T+3 For Public Issue Of Debt Securities

New Delhi: Sebi on Thursday decided to reduce the timeline for listing of public issue of debt securities to three working days from six days at present, to facilitate faster access to funds. This new timeline will be optional for the first year and mandatory thereafter.

“It has been decided to reduce the listing timeline in case of public issue of debt securities and NCRPS to T+3 working days from the existing timeline of T+6 working days,” the Securities and Exchange Board of India (Sebi) said in a circular.

The move would help in enabling faster access to funds for issuers. Also, the move would align the listing timeline in case of the public issue of debt securities and non-convertible redeemable preference shares (NCRPS) with that of non-convertible securities issued on a private placement basis and specified securities. Further, to ensure ease of compliance for issuers, the listing timeline of T+3 working days will be applicable on a voluntary basis to public issues of debt securities and NCRPS opening on or after November 1, 2024, and on a mandatory basis from November 1, 2025.

Earlier this week, Sebi streamlined the application process for public issues of debt securities by asking individual investors applying for amounts up to Rs5 lakh through intermediaries to use only UPI to block funds.