Mumbai (Maharashtra) [India], June 21 (ANI): The Securities and Exchange Board of India (SEBI) on Thursday announced a reduction in the timeline for the announcement of Initial Public Offering (IPO) prices.
Addressing a press conference post a board meeting, SEBI Chairman Ajay Tyagi announced that the timeline for announcing IPO has been reduced from five days to two.
Three regulations around initial public offerings and buybacks have been redrafted.
In the case of Market Infrastructure Institutions (MIIs), foreign shareholding limit will now be harmonised to 15 percent, Tyagi said.
The SEBI Chief also shared that the board has approved amendments to the share buyback and takeover regulations.
"SEBI will bring in a consultation paper for regulations of third party entities, which will allow sub-brokers to migrate to authorised persons categories," he explained.
Tyagi said the mandatory auditor disclosures would be made effective from April next year.
SEBI is also intended to rationalise Foreign Direct Investment (FDI) and Mutual Fund (MF) regulations.
Responding to a question on the progress of the probe in the National Stock Exchange of India Ltd (NSE) co-location case, Tyagi said action had been initiated against persons and institutions in the NSE, and would be public in a few days.
Meanwhile, Tyagi also shared that the SEBI is yet to receive a reply from the ICICI Bank with regards to the loan fraud case involving the bank's CEO Chanda Kochhar. (ANI)
This story has not been edited. It has been published as provided by ANI