The Securities and Exchange Board of India (SEBI) has announced an extension in the timeline for submitting public comments on its consultation paper regarding the “Introduction of Closing Auction Session (CAS) in the equity cash segment.” This decision reflects SEBI’s commitment to fostering stakeholder engagement and ensuring that all voices are heard in the regulatory process.
Background of the Consultation Paper
On August 22, 2025, SEBI published a consultation paper aimed at exploring the feasibility and implications of introducing a Closing Auction Session in the equity cash segment. The CAS is designed to enhance price discovery and improve liquidity in the market by allowing participants to place orders during a specified auction period at the end of the trading day. This initiative is part of SEBI’s ongoing efforts to modernize the Indian securities market and align it with global best practices.
Initially, the deadline for submitting comments on the consultation paper was set for September 12, 2025. However, recognizing the need for broader stakeholder engagement, SEBI has decided to extend this deadline to September 19, 2025. This extension provides additional time for market participants, including investors, brokers, and other stakeholders, to review the consultation paper and submit their insights and suggestions.\
Importance of Public Comments
Public comments play a crucial role in the regulatory process, as they provide valuable insights from those directly affected by proposed changes. By extending the deadline, SEBI aims to ensure that all voices are heard and considered before finalizing any decisions regarding the implementation of the CAS. This collaborative approach not only enhances transparency but also fosters a sense of ownership among market participants.
How to Submit Comments
Stakeholders interested in contributing their views on the consultation paper can do so through the dedicated link provided by SEBI: https://www.sebi.gov.in/sebiweb/publiccommentv2/PublicCommentAction.do?doPublicComments=yes. It is essential for participants to articulate their thoughts clearly, as these comments will be instrumental in shaping the final framework for the Closing Auction Session.
In the event of any technical difficulties while submitting comments via the web-based form, SEBI has provided contact information for assistance. Stakeholders can reach out to Mr. Abhishek Agarwal, Assistant General Manager, at abhisheka@sebi.gov.in, or Mr. Sanjay Singh Bhati, Deputy General Manager, at ssbhati@sebi.gov.in. When contacting them, it is important to include the subject line: “Comments on Introduction of Closing Auction Session (CAS) in the equity cash segment.”
Conclusion
The extension of the deadline for public comments on the CAS consultation paper reflects SEBI’s commitment to fostering an inclusive regulatory environment. By encouraging stakeholder participation, SEBI aims to create a robust framework that enhances market efficiency and investor confidence. As the new deadline approaches, stakeholders are urged to take advantage of this opportunity to share their insights and contribute to the evolution of the Indian equity market.
This initiative not only signifies SEBI’s proactive approach to regulation but also underscores the importance of collaboration between regulators and market participants in shaping the future of the financial landscape in India. The introduction of a Closing Auction Session could potentially transform trading dynamics, making it essential for all stakeholders to engage in this critical discussion.