Zaggle Prepaid Ocean Services and Samhi Hotels to list on bourses in T+3 timeline on September 22
Zaggle Prepaid Ocean Services and Samhi Hotels are set to list their shares on the stock exchanges on September 22, 2023, in the T+3 timeline. This is a significant development, as it indicates that companies are gradually moving into the new IPO listing timeline announced by the Securities and Exchange Board of India (Sebi).
The implementation of the new T+3 timeline is voluntary for companies launching IPOs since September 1, 2023, but it will be compulsory for all IPOs opening with effect from December 1, 2023. Under the new timeline, IPO shares are listed on the stock exchanges three working days after the closure of the public issue, instead of six working days as was the case earlier.
Zaggle Prepaid Ocean Services is a business spend management software and services provider, while Samhi Hotels is a branded hotel ownership and asset management platform. Both companies raised significant capital through their IPOs, with Zaggle raising Rs 563.38 crore and Samhi raising Rs 1,370.1 crore.
The listing of Zaggle and Samhi Hotels in the T+3 timeline is a positive development for the Indian IPO market. It shows that companies are willing to adopt the new timeline, and it is also a sign of increasing efficiency in the IPO process.
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