Sebi moots 7-day IPO processing time

Market regulator Securities and Exchange Board of India (SEBI) on Wednesday said it wants to bring down the time required for IPO processing to seven days from 20 days at present over the next one year.

"The listing time should come down to seven days... primary market is still somewhat inefficient compared to the secondary market," Sebi Chairman, C B Bhave said at a conference.

He said the timely settlement of transactions continue to be a challenge in the system.

Also, there was a need to reduce the cost of mutual funds and the risk of investors.

"We need to look at reducing the cost of mutual funds and risk of investors," Bhave said.

Noting that the worst (of the global financial crisis) is behind us, Bhave said the market should not get carried away with the euphoria.