{"id":16760,"date":"2023-11-29T14:51:42","date_gmt":"2023-11-29T09:21:42","guid":{"rendered":"https:\/\/zerodha.com\/varsity\/?p=16760"},"modified":"2023-11-29T14:57:31","modified_gmt":"2023-11-29T09:27:31","slug":"ipo-t3-weekends","status":"publish","type":"post","link":"https:\/\/zerodha.com\/varsity\/ipo-t3-weekends\/","title":{"rendered":"Indian IPOs & Weekends"},"content":{"rendered":"

Starting December 1st, all IPOs must list within 3 days of their window closing.<\/span><\/p>\n

Was this not already happening?<\/b><\/p>\n

An optional window was launched from September 1st to December 1st, 2023. In this window, the companies going public could choose to indicate a T+6 timeline on the prospectus or a shorter one. However, most companies were attempting to list within 3 days even if a longer timeline was indicated on the prospectus.<\/span><\/p>\n

\"\"<\/p>\n

Were any redundant processes dropped to reduce the timeline?<\/b><\/p>\n

No, the process steps remain the same. However, different organizations involved, like banks, exchanges, and registrars, will complete their tasks faster. Thus, the T+6 timeline has shortened to T+3, even though process complexity hasn\u2019t decreased.<\/span><\/p>\n

Remarkably, many IPOs have listed in 3 days in recent months during the optional period.<\/span><\/p>\n

How have we improved market-wide efficiency so quickly?<\/b><\/p>\n

We have been smartly planning IPO dates. With a 3-day working timeline, IPOs closing on Wednesday or later benefit from extra weekend days. This eases the workload for exchanges, registrars, and banks.<\/span><\/p>\n

For example, the Tata Technologies IPO closed on November 24th and is listing on November 30th. Excluding the three holidays from November 25th-27th, it meets the T+3 requirement.<\/span><\/p>\n

Hopefully, over the next few months, all market intermediaries will gain confidence to close an issue on a Monday or a Tuesday. This could enable same-week listings. In any case, this is still a feather in our caps. \ud83c\uddee\ud83c\uddf3\ud83d\ude80<\/span><\/p>\n

This guest post is by Mohit Mehra.\u00a0<\/em>Mohit splits his time between Zerodha & Rainmatter, sharing his experiences on this\u00a0blog<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Starting December 1st, all IPOs must list within 3 days of their window closing. Was this not already happening? An optional window was launched from September 1st to December 1st, 2023. 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