Market regulator
Sebi on Tuesday said it is looking at revamping the initial public offering (IPO) norms and putting in place a common KYC regulation for financial sector intermediaries.
"Whenever we find instances of violation (IPO norms), we will take deterrent action. It also calls for a relook at our entire IPO process. So we are doing that as well," Sebi Chairman
U K Sinha said.
He said very soon a regulation for centralised KYC (Know Your Customer) would be put into place for making the process easy. "We have decided to have a thorough review of our risk management system as the current system is more than 10 years old," Sinha said.
Earlier this year, the Securities and Exchange Board of India (Sebi) had decided to introduce a new short and simple form for IPO investors for increasing retail participation in the stock markets.
In the first half of the current fiscal, 30 companies have raised fund totalling over Rs 5,000 crore through IPOs.
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