Sebi proposes major changes in IPO norms

Retail investors are likely to get more allocation in initial public offerings (IPOs). The Securities Exchange Board of India’s (Sebi) ...

Retail investors are likely to get more allocation in initial public offerings (IPOs). The Securities Exchange Board of India’s (Sebi) primary market advisory committee has recommended an increase in the allocation limit to retail investors from the current 25 per cent to 35 per cent in book-building public issues.

The allocation limit of non-institutional bidders (NIBs) has been proposed to be reduced to 15 per cent from the existing 25 per cent. There were complaints from retail investors that big investors like funds, FIIs, high networth individuals are cornering majority of the shares in IPOs.

The group has also recommended redefining retail investors as one who can apply up to Rs 1 lakh in a primary issue, reduction in bidding period to 3-7 working days, improvement in book-building data reporting on websites of stock exchanges, disclosure of broad parameters on which allocation is made to qualified institutional buyers (QIBs), retention of announcement of price band/floor price in the red herring prospectus and deletion of some redundant provisions in book building guidelines.

The recommendations on Sebi’s (Disclosure and Investor Protection) Guidelines-2000 made by a subgroup under the primary market advisory committee has been put up for comments on the Sebi website on October 7.

The police said the trio from Chandigarh — Rohan (21), Sumit (22), and Mohit (19) — were dhol players by profession and had procured the weapons due to an old rivalry with local residents.

Suspecting affair, Odisha lecturer assaults wife and her friend, parades them on street

India7 min ago

A lecturer of Commerce and his associate were arrested for assaulting his wife, garlanding her with slippers and parading her on the road with her male friend. The woman, who has been living separately from her husband, was assaulted and humiliated in public. The incident was recorded and shared on social media. Police have seized evidence and are investigating the matter.

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