SEBI reduces time duration for rights issue to 43 days

The Securities and Exchange Board of India (SEBI) on Wednesday reduced the time duration for a rights issue from 109 days to 43 days. “The reduction in timelines would reduce the market risk faced by investors and issuers and would ensure faster turnaround of money for investors,” said C. B. Bhave, Chairman, SEBI, while addressing a press conference here after its board meeting. The board also approved the proposal for prescribing and standardising the format for abridged scheme-wise annual report and reduction in time period for dispatching the annual report to mutual fund unit holders from six months to four months