From 2013, all IPO filings to provide e-IPO option
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In a move that will allow investors to apply for initial public offerings in electronic format, the Securities and Exchange Board of India (Sebi) on Thursday said that all offer documents filed with the Registrar of Companies on or after January 1, 2013 will have to provide e-IPO option to investors.
Sebi has said that the e-IPO facility will be introduced at more than 1,000 locations which are part of the broker network of stock exchanges. It will, however, be implemented in two phases. In the first phase, around 400 broker centres will be covered by January 1, 2013 and the remaining centres will be covered in the second phase by March 1, 2013.
The move is part of Sebi's efforts to provide retail investors an additional mechanism to submit application forms in public issues.
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