As per the new rules for IPO, the SEBI has announced a significant reduction in the timeline for Initial Public Offering (IPO) listings, and will become effective from 1st December 2023. The IPO listing timing will be shortened to T+3 from T+6 earlier. As per the new rules, the Upcoming IPO will list after 3 days of the closure of the IPO was 6 days earlier.
Key financial changes from December 2023
1) New Timeline for IPO Listing
The SEBI reduced the time for IPO Listing from T+6 to T+3. The same will be implemented for both investors and companies from December 1.
2) Free Aadhaar Update Online Deadline
The Aadhar Card details free update online is going to expire from 14 December. The government earlier extended the same twice for the citizens.
3) Inactive UPI IDs
As per the NPCI circular dated November 7, 2023, has asked payment apps and banks to deactivate the UPI IDs and numbers that have not been active for more than one year. This will be followed by every bank and third-party till December 31, 2023.
4) Demat Account Nominations
As per SEBI’s circular deted September 26, updation or addition of nominations to the demat accout was extended till December 31, 2023.