Market regulator Sebi (Securities and Exchange Board of India) has extended the IPO validity period to one year in its board meeting. Sebi Chairman CB Bhave said companies can use IPO funds only after allotment of shares. There will be no exits provided in debt funds. Shareholders with demat will get rights share in demat form. There will also be no early exit on close-ended MF schemes.
Source: Moneycontrol.com
Tuesday, December 23, 2008
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