Sebi gives more time for implementation of SMS alerts for IPO process through UPI system

NEW DELHI : Sebi on Wednesday gave more time for implementation of guidelines pertaining to SMS alerts under the Unified Payment Interface (UPI) system for shares applied and allotted during an IPO.

The deadline for putting in place automated web portal with respect to Initial Public Offers (IPOs) through UPI system has also been extended.

The extension has been given after stakeholders approached the regulator seeking additional time for implementing the system changes given the prevailing uncertainty due to the COVID pandemic.

The framework for automated web portal would come into force from October 1, 2021 while those related to SMS alerts from January 1, 2022, Sebi said in a circular.