Companies have to get listed within three days of the closing of the IPO

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MUMBAI: The Securities and Exchange Board of India (SEBI) has tightened rules for providing information to foreign portfolio investors (FPIs) to avoid abuse of foreign investment channels and to prevent violation of public shareholding norms.

Apart from this, SEBI's board also decided to reduce the period for listing of shares after the IPO. However, no decision was taken on the proposal to change the total expense ratio of mutual funds.

The listing period for companies bringing initial public offerings (IPOs), which is currently within six days from the date of closing of the IPO, has been reduced to three days, Sebi sources said. Due to this decision, SEBI expects the participation of investors in the primary market to increase.

The new criteria for listing has been made mandatory after 1st December 2023. By shortening the period, the investors who did not get the shares will get their money back soon.

FPIs having more than fifty percent of their holdings in a single corporate group or FPIs managing equities of more than Rs 25,000 crore in India will have to provide detailed details.

These details include ownership, economic interests and control of these funds, said a press release issued by Sebi. This decision has been taken to avoid possible misuse of various avenues for investment in the country.

However, government, pension funds and public retail funds, some listed ETFs are exempted from providing this information.


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