Depending on the case's complexity and the level of disclosure in the DRHP, the clearance process may take a few weeks to several months. Additionally, SEBI may request more details or explanations, which could cause the process to take longer. It must submit its observations by SEBI guidelines within 30 working days of obtaining the DRHP. This time frame, though, can be extended if SEBI has any questions or needs more data.