Capital market regulator, Securities and Exchange Board of India (SEBI), today said that it has decided to allow physical delivery in the derivatives segment but no timeline has been fixed for this. SEBI Chairman, C B Bhave, told this to reporters in Mumbai today after the Board's meeting. Bhave said that SEBI will discuss this issue with the stock-exchanges and institute an appropriate mechanism for physical delivery in derivatives market. He added that there will be a need for proper risk-containment systems. Bhave said the Board will also work on raising the time period of long term derivatives contract from three years to five. In its meeting today, the SEBI Board, also took a decision that starting from May first this year, Qualified Institutional Buyers (QIBs) will have to pay 100 percent upfront while subscribing to Initial Public Offerings (IPOs). Currently, the institutional buyers are required to pay only 10 percent at the time of subscription.