Sebi cuts time between IPO close, listing

India's market regulator on Tuesday proposed to reduce the time between the close of a public issue and the company's listing to 12 days from up to 22 days. The new rule will be applicable to public issues opening on or after May 1, 2010, the Securities and Exchange Board of India (SEBI) said in a statement. – www.economictimes.indiatimes.com