SEBI Extends Deadline For Implementation Of SMS Alerts
SEBI extends the deadline for the implementation of SMS alerts for the IPO process.
Securities and Exchange Board of India (SEBI) extends the deadline for SMS alerts for the IPO process through the Unified Payment Interface (UPI) mechanism.
On Wednesday, the regulator gave more time to implement the guidelines related to SMS alerts under UPI on shares applied for and allotted shares during IPO.
Apart from this, the deadline for setting up an automatic web portal for initial public offering (IPO) under the UPI system has also been extended.
In fact, citing the uncertainty due to the Covid epidemic, the parties concerned had asked the regulator for additional time to change the system.
SEBI said through a circular that the new rules for automatic web portals will now come into force from October 1, 2021, while the rules related to SMS alerts will come into effect from January 1, 2022.
However, earlier the new arrangement was to come into effect for IPOs to hit the market from May 1, 2021.
Regarding SMS alerts, SEBI said that Self-Certified Syndicate Banks (SCSBs) will have to continue to send SMS alerts in the prescribed format during the actual block/debit/unblock of UPI.
The regulator said the total number of allotted or non-allocated shares that have been applied for IPO with effect from January 1, 2022, will be included in the SMS.
For ease of doing business, SEBI has prescribed a web portal for Closed User Group (CUG) entities to be hosted by the sponsor banks.
It has now been decided that the automatic web portal will be live and operational after due testing and mock trials with the CUG entities for public issue opening on or after October 1, 2021.
Ease of Doing Business: Modi government made these important reforms in seven years, doing business in the country became easier.
Two years have been completed of the second term of Prime Minister Narendra Modi government.
In this way, if the first and the second term so far are combined, then a total of seven years of the Modi government have been completed.
In these seven years, the Central Government has taken many big steps to promote Ease of Doing Business in the country.
In this episode, the government has also taken many such legislative measures, which have made it easier to do business in the country. Many infographics have been issued in this context issued by the government.
