Stocks

IPO: Deposit refund time halved

Our Bureau Chennai | Updated on July 05, 2021

The Securities and Exchange Board of India has reduced the time period to receive a no-objection certificate (NOC) to receive the one per cent deposit amount after listing to two months from the existing four months. As per the listing agreement with the stock exchanges, the issuer company deposits one per cent of the issue amount of the securities offered to the public and/or to the holders of the existing securities of the company with the designated stock exchange. To receive the deposit back, the issuer company needs to get an NOC from the regulator.

Published on July 05, 2021

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