Sebi comes out with uniform time period for listing of securities

The Securities and Exchange Board of India (Sebi) on Monday came out with a uniform time period for listing securities, including municipal bonds, issued on a private placement basis. 

The timeline will be applicable for non-convertible redeemable preference shares, debt securities, securitised debt instruments, security receipts, and municipal bonds, said Sebi in a circular. The move comes after Sebi received several requests from market participants for clarification on the time period within which such securities need to be listed following completion of the allotment.

After taking feedback from market participants, Sebi decided that allotment of securities would be completed by T+2 trading