Smt Madhabi Puri Buch
SEBI Chief
SEBI
Coming up: 'Demystified filing' for faster IPO nods. Sebi chief explains how it will work
Sebi chief Madhabi Puri Buch on Friday detailed plans to simplify IPO filings. Buch highlighted the regulator's efforts to demystify offer documents and reduce approval timelines, ensuring faster, efficient public listings.
Speaking at a capital market conference organized by FICCI, Buch said Sebi is looking at a 'demystified filing' process for IPOs. This new approach will feature a fill-in-the-blank format and a separate section to address complexities, making the documentation precise and user-friendly.
"The industry standards forum will be consulted for this. The format or template will largely remain the same for all sizes of IPOs," Buch said. She emphasized that the new document would be straightforward, with unnecessary details omitted and a dedicated column for any complexities.
This initiative aims to simplify the listing process and enhance the clarity of offer documents.
The market regulator is also leveraging artificial intelligence to expedite approvals. As of July, Sebi had processed around 86 IPO documents, with 65 receiving approval or observation letters. However, Buch noted that incomplete filings and inconsistencies in applications have caused delays. "Such faulty applications are ‘cluttering the path’ for the approval of well-prepared IPO applications," she stated.
Buch mentioned that a consultation paper on the combo product would soon be released to gather industry feedback.
Buch’s remarks underscore SEBI's commitment to enhancing the efficiency of India’s capital markets. By demystifying offer documents and introducing new fundraising methods, SEBI aims to maintain its leading position in capital formation within Asia’s fifth-largest stock market. "We are working on simplifying the listing process and the documentation," Buch said.
Disclaimer: This info has been published and collected from various public & secondary resources.
