Sebi Working On Offer Document Simplification For Ease In IPO Application Filing

"It will be easier for young companies waiting to be listed," she added.

The new format of filing offer documents will have a standard template for IPO applications "with fill in the blanks" so that the offer document will be precise and any variation or complexity could be articulated in a separate column, the Sebi chief said.

Sebi is also working on a combo of Rights Issue and Preferential allotment which can be completed in half the time taken now and without Sebi approval and no compulsory merchant banker requirement, Sebi chief said while talking about innovation and ease of doing business in the capital market. "The entire process can be completed in 23 days and this will cut the time needed to half, she said.

Speaking at the same conference Ananth Narayan, whole time member, Sebi spoke about the steps being taken to make Indian capital market more efficient.

"As we mature, it would be ideal if much of regulation comes via self-regulation, rather than waiting for SEBI to act. For instance, a suggestion has been made by some market participants around introducing client suitability and appropriateness as a filter to allow participation in F&O markets," Narayan said.

"We must look to self-identify and address any possible perverse incentives in the ecosystem," Narayan said talking about. volume discounts offered on exchange fees to trading members resulted in them collecting around Rs 2,700 crore more from investors as exchange fees in FY24, than was due from them to the exchanges. This resulted in possible perverse incentives where larger brokers would benefit from larger trading volumes from their clients, even if notionally, their explicit brokerage charges were very low.

" While we have collectively addressed this issue, ideally, much of this could have perhaps been raised, debated and addressed by the participants on the ground, without having to wait for SebiI’s intervention," He said.