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Sebi defers introduction of T+6 norms for book building issues
Mumbai, Oct 13: Securities and Exchange Board of India (Sebi) today said implementation of T+6 norms for book building issues and blackout on research reports has been deferred till further notice.
Mumbai, Oct 13: Securities and Exchange Board of
India (Sebi) today said implementation of T+6 norms for book
building issues and blackout on research reports has been
deferred till further notice.
This decision to defer the implementation of these two
norms has been taken to ensure a smooth transition, Sebi said
in a release here today and added that all other amendments
would stand effective.
The decision to defer the two norms follows
representation from market players that infrastructure and
software systems were required to be upgraded before shifting
to T+6 (where T is the book closure date and trading is to
commence on the sixth date), Sebi said.
The norms were amended to provide for a blackout period
on research reports from a date 45 days immediately preceding
the filing of draft offer document with Sebi and extending
upto 45 days after commencement of trading in relevant
securities, it said.
Sebi, on August 14, had amended its Disclosure and Investor Protection (Dip) guidelines.
Some of the other amendments pertain to having minimum net tangible assets of Rs three crore to raise funds through public issues.
The amended norms were expected to improve quality of issuer companies and also to keep fly-by-night issuers at bay, Sebi had added.
Bureau Report
Sebi, on August 14, had amended its Disclosure and Investor Protection (Dip) guidelines.
Some of the other amendments pertain to having minimum net tangible assets of Rs three crore to raise funds through public issues.
The amended norms were expected to improve quality of issuer companies and also to keep fly-by-night issuers at bay, Sebi had added.
Bureau Report