The Securities and Exchange Board of India (SEBI) has proposed that the minimum application size in SME IPOs be doubled or quadrupled from the existing ₹1 lakh. The offer for sale (OFS) in SME IPOs may be restricted to 20 per cent of the issue size. For selling shareholders, shares offered for sale in SME IPOs shall not exceed more than 20 per cent of their pre-issue shareholding on fully diluted basis. SME issues where objects consist of loan repayment of promoter, promoter group or any related party will not be permitted. DRHP of SME IPOs filed with the stock exchanges will be made available to public for comments for at least 21 days from the date of public announcement.

Source: The Hindu November 20, 2024 09:36 UTC