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'Settlement' is a two-way process that involves the transfer of funds and securities on the settlement date. As of now, there is a lag between trade and settlement
Shortening the trade settlement cycle involves impressive efficiency improvements in the market clearing mechanism and will be class-leading when implemented. The way it works now in the primary market is money remains blocked in investor accounts earning interest till issuers of IPOs accept subscriptions. Replicating this for the secondary market is more complicated because of the number of parties involved as well as the kinds of transactions they undertake.
Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch said that the regulatory body is already working on a mechanism that will allow instant transfer of stocks, cash in investor account
The offer will see fresh shares worth Rs 2,700m and a stake worth Rs 1,350m by exiting shareholder SAIF Partners India IV Limited. Proceeds from the IPO will be used for working capital and general corporate purposes. The bid deadline is 6 July, with shares being offered between Rs 301 and Rs 317 each.
The current listing time is T+6, with T being the day the issue closes for subscription , , securities and exchange board of india, sebi