Sebi tightens disclosure norms for IPOs
Mumbai: Markets regulator Sebi on Friday approved a slew of changes to various regulations, including tightening the disclosure requirements for initial public offerings.
At its board meeting here, Sebi also decided to relax the pricing rules for open offers with respect to disinvestment of public sector undertakings.
For IPOs, the regulator cleared the proposal mandating the issuers to disclose the offer price based on past transactions and fund raising activities.
Also, companies contemplating IPOs will soon have the option to make confidential pre-filing of offer documents.
Besides, the watchdog's board gave its nod to bring buying and selling of mutual fund units under the ambit of insider trading rules.
