Listed companies will not have to wait longer to sell shares through follow-on public offers (FPOs) as the Securities and Exchange Board of India plans to bring down the period of issuing an observation letter to 45 days.“Currently, the observation giving process of an FPO proposal takes 3-6 months, which is too high. Our effort would be to fast-track the process,” a senior SEBI official told BusinessLine , adding that initially this would apply for the top 200 companies, and should be in place in the next six months. An FPO takes place when a company taps the market anytime after its initial public offering.

Source - http://www.thehindubusinessline.com