The Securities and Exchange Board of India's (Sebi) marathon meeting on Wednesday evening yielded a rich harvest. As a result, tighter checks on insider transactions, tougher criteria for merchant bankers, and easier rules for investment trusts are on the way, most of which should help in improving investor protection and the efficiency of market participants.
The biggest measure, of course, was reserved for initial public offerings (IPOs) of small and medium-sized enterprises (SMEs), which were making headlines for all the wrong reasons. The best part is that while tightening the regulations, the regulator has balanced investor protection objectives with the needs of genuine SMEs.
Sebi's intentions anyway didn't come as a surprise: A consultation paper in November this year had red-flagged some SMEs diverting issue proceeds, declaring manipulated numbers, and undertaking outsized related-party deals.
This story is from the December 20, 2024 edition of Financial Express Chennai.
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This story is from the December 20, 2024 edition of Financial Express Chennai.
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attention is paid to these two things that we seem never to get to the issues that really affect ordinary people like healthcare, education, pollution and the horrendous conditions in which most Indians are forced to live.
