Sebi Proposes Relaxed Norms For Start-up Listing
To encourage listing of start-ups, Sebi today proposed an easier framework that allows more investor categories, relaxed shareholding norms and reduced trading lot amount.
In this regard, the markets regulator has mooted changes to the framework of Institutional Trading Platform (ITP), which has not seen much traction even though it was put in place in August 2015.
The rules were brought in to encourage Indian start-ups and entrepreneurs to remain within the country rather than go overseas for raising funds. Seeking to widen the eligibility ambit for getting listed on ITP, Sebi has proposed increasing the category of eligible investors when it comes to shareholding before the listing.
Besides QIBs (qualified institutional buyers), family trusts or systematically important NBFCs...