Cutting down the listing time for IPOs to just four days from the current seven and probing data leaks on social media are some key areas where SEBI will focus in the coming weeks.

SEBI is already investigating analysts with various brokerage houses for circulating WhatsApp messages with price-sensitive information before it was out in the public domain via official platform.

“We are taking that (WhatsApp leaks) very seriously,” said Ajay Tyagi, Chairman, SEBI, on the sidelines of a conference in Mumbai. “How come such messages about reputed listed companies are leaked quite close to the financial results is something we are not going to sit quietly on,” Tyagi told reporters.

SEBI and stock exchanges are probing data leaks on social media and WhatsApp with regard to around 24 top listed companies. According to sources, SEBI had come across several WhatsApp messages wherein quarterly results of several companies were circulated before they were announced by the companies.

Crediting government policies and sustained reforms as well as improvement in ease of doing business, apart from enabling regulatory framework, he said, formalisation of the economy after the note-ban, softer interest rate regime as well as increasing public awareness about MFs have boosted the demand side, while very good public issues have helped the supply side. Underlining the role of investment bankers in the success of IPOs and in increasing retail participation, he said, “Advisors should convince or advice issuers about the right pricing,” so that there is something on the table of the investor as well.

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