– India’s markets regulator is reviewing rules governing initial public offerings by small companies and delisting regulations, the Securities and Exchange Board of India (SEBI) chairman said on Wednesday.
“Issues such as market making was adding to cost for small company IPOs,” SEBI chief Tuhin Kanta Pandey said at an event in Mumbai. “A comprehensive review is underway,” he added.
SEBI is also looking to support global fund management activity from India, Pandey said, adding that proposed changes to portfolio manager regulations would support decision-makers in trading from onshore.
On the recently introduced closing auction session that determines closing prices, Pandey said any manipulation would be detected faster under the new system and that the regulator would take strict action if any was found.
(Reporting by Jayshree P Upadhyay in Mumbai; Writing by Aleef Jahan in Bengaluru; Editing by Nivedita Bhattacharjee)
