In the Book Building process, IPO allotment is now finalized more quickly thanks to SEBI’s updated timeline, which shifted from completion within 6 working days to the new T+3 schedule:
T+1 (one business day after IPO subscription closes): Allotment finalized and finalized lists are submitted.
T+2: Refunds to unsubscribed applicants are processed; allotment credits begin being distributed to investors’ Demat accounts.
T+3: Shares are officially listed and available for trading on the exchange.
For example, if the IPO subscription closes on 8 Feb (Monday):
9 Feb (Tuesday) – T+1: Allotment finalised.
10 Feb (Wednesday) – T+2: Refunds processed; shares begin appearing in successful investors’ Demat accounts.
11 Feb (Thursday) – T+3: IPO listing on the exchange.
This revised timeline replaces the older 6 day process with a more streamlined 3 business day turnaround, enhancing efficiency for all stakeholders.