IPOs to compulsorily have T+3 listing from today; funds to unblocked earlier.

ll the Indian companies will mandatorily have T+3 listing at the bourses from December 1 onwards, where ‘T’ stands for closure date of the issue. It means that the listing candidates will have to make their debut at Dalal Street within three-working days after bidding for the issue ends.

The Securities and Exchange Board of India (Sebi) had halved the IPO listing timeline to three days from six days earlier, in June this year. The new rule was implemented in two phases, where it was optional from September 1, 2023 and made mandatory from December 1, 2023.

Explaining the rationale, the capital market watchdog then said that the move is likely to benefit issuers who would receive securities listed in a shorter period along with those who have not been allotted securities as they will get their money back faster.

In reality, because of T+3 settlement, the oversubscription ratio in most of the IPOs will increase and fancy for the IPOs will sharply move up. This is welcome action from SEBI.

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IPOs to have T+3 listing