The Securities and Exchange Board of India (SEBI) has sent a 31-point advisory to investment bankers, requiring enhanced disclosures and increased due diligence on companies tapping the market for initial public offerings (IPOs). Offer documents not in conformity with the guidelines will be returned, a mail sent to bankers last week said. Also read: SEBI revamps market cap computation basis for LODR complianceBankers have been told to intimate the Registrar of Companies (RoC) about any missing or untraceable RoC filings before filing the draft prospectus. To be clear, SEBI has been issuing these advisories through the Association of Investment Bankers of India for over two years now. Advisories that are clarificatory in nature help interpret SEBI regulations and align companies to standard market practices.

Source: The Hindu June 02, 2024 23:08 UTC