SEBI, vide circular no. CIR/MRD/DP/21/2010 dated July 15, 2010 introduced Call Auction in Pre-open session (hereinafter referred to as “pre-open session”) for the scrips forming part of Sensex and Nifty. Further, SEBI, vide circular no. CIR/MRD/DP/32/2010 dated September 17, 2010 and vide letter dated September 17, 2010 provided clarification with regard to order matching and order level risk management.
In continuation to the above, it has been decided to extend Call Auction mechanism to IPOs and scrips as defined under para 1(c) of SEBI circular no. SEBI/Cir/ISD/1/2010 dated September 2, 2010 (hereinafter referred to as Re-listed Scrips).
In present circular CIR/MRD/DP/ 01/2012 dated January 20, 2012 SEBI has laid down additional operation conditions of Call Auction mechanism to IPOs on the first day of trading/ re-commencement of trading, which shall be applied with earlier circular of SEBI on the same issue.
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