Sebi’s proposal to introduce a “when-listed” trading period aims to bring transparency to pre-listing transactions and curb grey market practices. The move underscores the regulator’s broader push for ethical governance and investor trust in India’s booming capital markets.

India’s securities market regulator is considering steps to formalize trading in initial public offerings where bidding has closed, but the shares are yet to be listed.

When-listed' securities refer to those securities that are available for trading between the close of a company’s IPO and before its listing

SEBI is working on introducing a new system that allows trading in shares of companies that are in the process of listing.

Markets regulator, the Securities and Exchange Board of India, is actively looking at allowing 'when-listed' securities to trade on the country's stock exchanges, Chairperson Madhabi Puri Buch said on Tuesday.

In a move to bring transparency and regulation to India’s capital markets, the Securities and Exchange Board of India (SEBI) is exploring the concept of 'when-listed' securities trading. This initiative would allow IPO allottees to trade shares during the three-day gap between the close of an IPO and its official listing,