Sebi grants breather to firms, extends expiration date for IPO approvals

At present, the approvals given to IPOs are valid for a period of 12 months from the date of Sebi's final "observation". This has been extended by six months

The  Securities and Exchange Board of India (Sebi), has given a breather to companies by extending the expiration date for their IPO approvals. At present, the approvals given to IPOs are valid for 12 months from the date of Sebi’s final “observation”. This has now been extended by six months, subject to fulfilment of certain conditions.

“The validity of Sebi observations where the same have expired or will expire between March 1, 2020, and September 30, 2020, has been extended by six months, from the date of expiry of such observation,” Sebi said in a circular.