In the first phase, retail investors will get the option of UPI
payments along with the existing options. The first phase will be between January 1 and March 31, 2019. The second phase will begin thereafter for a period of three months, when retail investors will get the option of only UPI
The listing timeline in the first two phases will remain six working days. After completion of six months or 10 IPOs—whichever is later—the timeline will reduce to three days.
The biggest impediment in reducing listing timeline for Sebi has been cheque payments. The UPI
mechanism will help do away with physical handling of forms, said market players.
Reduction in listing timeline will give a boost to the IPO
market as it will have issuers and investors tide over market volatility.