Under the ordinary SEBI ICDR rule, what is the maximum number of working days for which a main-board IPO may remain open?
Question and options
Under the ordinary SEBI ICDR rule, what is the maximum number of working days for which a main-board IPO may remain open?
Seven working days
Ten working days
Eight working days
Nine working days
Answer and explanation
Correct answer: B - Ten working days
Regulation 46 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 requires an initial public offer to be kept open for at least three and not more than ten working days. A revision of the price band extends the bidding period, but the total stays within ten working days.
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