Calling the IPO process in India very old, the SEBI Chairman, Mr U.K. Sinha, said the regulator has decided to review the systems in place. “Our aim is to make fund-raising by corporates in India more efficient, both in terms of the time and costs involved. A group set up for this purpose has already started working on it,” said Mr Sinha.
Speaking at the CII’s Capital Market Cummit, Mr Sinha also announced that the board has decided to engage the services of an international consultant for a review of the organisational structure of SEBI and the processes within. While this is a more common practice in other countries, SEBI is the first regulator in India to appoint an international consultant, he added.
In other significant announcements, Mr Sinha said that the regulations on the Alternative Investment Funds would be out in two months’ time.