The Bid Closing Date for Non-Convertible Debentures (NCDs) is the final deadline, specified in the offer document, by which investors must submit their applications to purchase the debentures. After this date and time (typically 5 p.m. on the closing day), no further bids are accepted.
Key Details regarding NCD Bid Closing Date:
- Definition: It is the last day of the public issue period when investors can subscribe to the NCDs.
- Time Limit: While the date is set, applications are usually accepted only until a specific time on that day, often 5 p.m..
- Early Closure/Extension: The issuer may close the issue earlier or extend it, but must notify investors via advertisement.
- Post-Closing: Following the closing date, the allotment process begins, and the NCDs are subsequently listed on stock exchanges.
- Significance: It marks the end of the primary subscription period, after which the securities can only be traded in the secondary market.
