For how long an IPO issue is open?
According to the Clause 8.8.1, the subscription list of public issues will be kept open for minimum three working. The issue cannot be open for more than ten days.
In the case of Book built issues, the bidding will be open for minimum three and maximum seven working days which are extendable to three days if the price band is revised.
The IPO issued by infrastructure companies which satisfy the requirements in Clause 2.4.1 (iii) of Chapter II can keep the issue open for maximum 21 working days. According to the clause 8.8.2. The rights issues can be kept open for minimum 30 days and maximum 60 days.