India’s market regulator plans to review rules governing mainboard IPOs and FPOs, according to an official aware of the development and a copy of an email reviewed by Mint.
The Securities and Exchange Board of India (Sebi) plans to set up a sub-group under its Primary Markets Advisory Committee (PMAC) for the review.
“Sebi is looking to revamp ICDR (Issue of Capital and Disclosure Requirements) regulations and has asked PMAC members to nominate themselves if they are interested,” the official said, requesting anonymity. The regulator sent an email to committee members on 12 October, the official said.
The PMAC, which advises the regulator on policy issues concerning the primary capital market, decided to form the sub-group at a meeting held on 12 August at the NSE Exchange Plaza, according to the email. The regulator invited nominations from PMAC members until the evening of 13 October.
The proposed sub-group will review chapter II, chapter IIA and chapter IV of the Sebi ICDR Regulations, 2018, commonly known as ICDR.