MUMBAI -(Dow Jones)- India's capital markets regulator Tuesday reduced the time gap between the closing of an initial public offering and the listing of shares in a bid to make the public issue process more efficient.
The time gap has been reduced to 12 days from the existing up to 22 days, the Securities and Exchange Board of India said on its Web site. This will be applicable to public issues opening on or after May 1, it said.
In November, SEBI Chairman C.B. Bhave had said the regulator aims to slash the time gap to about a week over one year. He had said that the more the gap, the higher is the risk that issuers and investors carry.
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