SEBI reviews IPO, delisting rules for small companies: Pandey
The regulator is examining market-making costs in small-company IPOs and proposed changes to portfolio manager rules.
The Securities and Exchange Board of India (SEBI) is currently reviewing rules surrounding initial public offerings (IPOs) for small companies and delisting regulations, according to its chief Tuhin Kanta Pandey. Pandey highlighted that market making, among other aspects, is contributing to the increased costs associated with small company IPOs. At an event in Mumbai, Pandey emphasized that a comprehensive review of these rules is underway.
In addition to the IPO regulations, SEBI is also looking to bolster global fund management activity originating from India, as Pandey stated. He explained that proposed changes to portfolio manager regulations would assist decision-makers in executing trades onshore. Regarding the recently introduced closing auction session, which sets the closing prices, Pandey noted that manipulation could be identified more swiftly under the new system.
He further stated that the regulator would implement stringent action if any manipulation were to be found.
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