One-year special window for transfer of old shares; Sebi approves 7 IPOs

Sebi opens a one-year window to help investors transfer and dematerialise legacy physical shares, while also clearing seven companies to proceed with their IPO plans

The Securities and Exchange Board of India (Sebi) has announced a one-year special window to allow investors to transfer and dematerialise physical securities that were bought or sold before April 1, 2019, in a move aimed at easing access to legacy shareholdings and securing investor rights.  Under the framework, securities transferred through this route will be credited only in demat form and will remain under a one-year lock-in from the date of transfer registration. The window applies only where the transfer deed was executed before April 1, 2019 and the original physical share certificates are available.

 

Seven IPOs get Sebi approval 

 

Sebi issued final observations to draft red herring prospectus (DRHPs) filed by seven companies during the week. These include HD Fire Protect, Parijat Industries and Associated Power. During the preceding week, the market regulator had cleared 13 initial public offerings (IPO).