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SEBI to cut time taken for rights issue process

NEW DELHI:SEBI today proposed reducing the overall time taken for rights issue to around 31 days as well as make the application and allotment process more efficient.

New Delhi, May 21

SEBI today proposed reducing the overall time taken for rights issue to around 31 days as well as make the application and allotment process more efficient.

Currently, rights issue process takes 55-58 days from the time company decides to launch the issue till listing. “... there is a need to reduce the timelines both in the pre-issue opening phase and after issue closure such that the issuer and shareholders benefit from process efficiencies,” SEBI said. — PTI

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