Sebi mulls UPI-based payments for IPOs to reduce listing period to 3 days

Sebi said it has had discussions with the NPCI to ensure the benefits of ASBA are retained

Capital market regulator Securities and Exchange Board of India (Sebi) on Wednesday proposed Unified Payments Interface (UPI)-based payments for retail investors investing in initial public offerings (IPO). The move will help cut down the time taken between closing of an IPO and listing of the security from current six days to just three days, Sebi said. It will also do away with physical movement of application forms.

UPI is an instant payment system developed by the National Payments Corporation of India (NPCI), an entity regulated by the Reserve Bank of India (RBI).

“Securities market, including the market for public offerings,