Modification in duration for Call auction in pre-open session for Initial Public Offer (IPO) and Relisted scrips

SEBI has amended Paragraph 17.2.1 of its Master Circular to address concerns regarding the call auction session in the pre-open session for IPO and relisted scrips. The session now spans 60 minutes from 9:00 a.m. to 10:00 a.m., with specific time allocations for order entry, modification, cancellation, matching, and buffer periods. \r

Notably, the session will randomly close between the 35th and 45th minutes to prevent last-minute manipulations. Additionally, enhanced surveillance measures include alerts on excessive order cancellations, modifications, and deviations in price, aimed at curbing market manipulation. \r

Stock exchanges are required to implement these measures and ensure transparency by disclosing real-time data on cancelled orders to investors.