A new directive from the market regulator Sebi is coming to effect from Monday 3rd may 2010 as per which institutional investors will have to pay upfront 100 per cent money in primary issues, just like the retail investors. Earlier, QIBs were required to put only 10 per cent as margin money in public issues, while retail investors were putting the entire 100 per cent along with the applications.
Another move of the regulator coming into effect 3rd may is that the listing time for companies after the completion the initial public offer has been halved to 12 days.
This will help investors to get there refund faster.
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