Circular No.SMDRP/Policy/Cir-35/2000

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..... resent SEBI guidelines, allotment in public issues is required to be made within 30 days from the date of closure of issue. However, it has come to SEBI's notice that although the issuers complete the allotment process within 30 days, the actual listing and trading permissions take a longer time resulting in delay in commencement of trading. It is observed that the need to obtain listing and d .....

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..... iple approval from the stock exchanges within the said 15 days. If the in-principle approval of all the stock exchanges stated in the draft offer document is not submitted within the said period, the lead manager shall not proceed with the issue and the file shall be closed. (c) The details of in-principle approval for listing shall be disclosed in the offer document. (d) The despatch of share .....

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