List down the timelines for book building IPOs in India.
According to SEBI, India's regulator of stock markets, Indian companies should adhere to the strict timelines. Because there are many parties and steps involved in the IPO process SEBI has clearly defined time frames for each step. The following timelines have been set by SEBI to facilitate Book Building IPOs in India.
- Bidding Process (Minimum/Maximum): 3-7 Working Days
- The lead manager will finalize the basis of allotment within two weeks of closing the issue.
- The registrar will allocate shares in Demat Account within 15 days of closing the issue.
- Listing of IPO shares by the issuer company within 7 days of the closing of the issue