How much time does SEBI take to approve the IPO application?

SEBI is required to submit observations on a draft offer document within 30 days from the date of receipt of the draft offer document or 15 days from the date of receipt of a satisfactory reply to the additional clarifications sought by SEBI from the merchant banker.

The Company should open its issue within the twelve-month window commencing from the date of the SEBI Letter of Notice as this is the only time frame for which it is valid.