Mumbai, April 8 The Securities and Exchange Board of India is looking at making changes in IPO regulations, so that investors need not have to wait for refund of application money, if they are not allotted shares.
Currently, retail investors have to make the full payment on application for shares, which are later refunded to the extent the shares are not allotted, which would normally take three weeks to a month.
Mr C.B. Bhave, Chairman, SEBI, today said that the regulator is looking at this issue, and with the present banking technology, it is possible to keep the IPO amounts in the investors’ account itself till the shares are actually allotted
Source:Business Line
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