Process for Company to list its shares
- Company files DRHP/DP with Stock Exchange
- Exchange uploads the DRHP/DP on the Website of the Exchange
- Company has to file an application on NEAPS and attach the relevant documents as per the Checklist specified by the Exchange
- Exchange does preliminary check & verifies the application and seeks replies to queries ( if any)
- Exchange issues in-principle approval to the Company
- Company has an intention to open the Issue, within 12 months, post the SEBI approval in case of Main Board & post Exchange approval in case of SME Issue
- One day prior, to the issue open, the company has to submit the 1% security deposit to Designated Stock Exchange (DSE)
- One day prior, to the issue open, the company allocates the shares to the Anchor investor (if any)
- Issue can be open for minimum of 3 days and maximum of 10 days
- Issue Close (T Day – Working day)
- On T+2 working day the Company submits the documents as per the checklist of the Exchange
- On T+3 working day basis of allotment is carried out at DSE
- On T+4 working day company submits the Listing Documents to the Exchange.
- On T+5 working day company submit Credit Confirmation from the Depository i.e. dematerialised shares to the allottee’s account & Exchange will issue a circular to the Market for listing of shares with effect from T+6 working day
- On T+6 working day Company gets listed on the Exchange
Note: T stands for Trade/Working Day
- Company is required to take an in-principle approval as per SEBI (LODR) Regulations i.e. 28 (1)
- Post the approval, which company will do the allotment and will apply to the Exchange post allotment as per the checklist
- Exchange will grant the approval, post verification of the documents (Except ESOP)
- Company needs to apply to the Exchange for trading permission by submitting the Credit Confirmation from the Depository i.e. dematerialised shares to the allottee’s account
- Exchange will grant the trading permission to the Company
- Company shall seek NOC from Exchange/SEBI under regulation 37 of SEBI LODR Regulations 2015, if applicable
- Company shall file draft Scheme with NCLT post requisite approvals
- Company shall applying to Exchange post allotment (if allotment required as per the Scheme) or for in-principle approval post Capital Reduction effect or for seeking relaxation for Reg 19 (2)(b) of SCRR.
- Company shall complete the credit of shares or dispatch of shares procedure as required.
- Company shall complete the final listing and trading permission for the scheme.
Updated on: 06/01/2023