Special Pre-Open session for IPO & Re-Listed Scrips

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We hereby notify you that SEBI has prescribed to conduct pre-open session through call auction trading mechanism for Initial Public Offering and Re-Listed Scrips to determine the equilibrium price for IPO and Re-Listed Securities in the Capital Market Trading Segment.

NSE and BSE have introduced pre-open session through call auction trading mechanism for IPO and Re-Listed scrips.

Special Pre-Open session (SPOS) for IPO/Re-Listed scrips shall be for duration of 60 minutes i.e. from 9:00am – 10:00am for scrips participating in that session and shall be followed by continuous trading session. In other words, while the continuous trading session is on for all other scrips, SPOS for those IPO/Re-listed scrips shall go on concurrently.

The timings of the Special Pre-Open Session for IPO and Re-Listed scrips for both NSE and BSE will be as follows:

Session	Time	Description
Order Entry Period	9:00 a.m - 9:45 a.m	Order entry/Modification/Cancellation allowed for IPO/Relisted scrips. Intraday, Stop Loss, Market, IOC, Disclosed Quantity orders not allowed for IPO/Relisted scrips.
Order matching and Confirmation Period	9:45 a.m – 9:55 a.m	Order entry/Modification/Cancellation not allowed for IPO/Relisted scrips. Open price is determined and order matching starts with trade confirmation
Buffer Period	9:55 a.m – 10:00 a.m	Buffer time between Pre-Open and Continuous session to ensure that Continuous session starts at a defined time.
Continuous Trading Period (IPO/Relisted scrip)	10:00 a.m - 3:30 p.m	Normal trading session starts All unmatched orders of IPO/Relisted scrips are carried forward to normal trading session.

For More Information on Special Pre-open session for IPO/Re-Listed, please refer to links NSE SPOS and BSE SPOS