Sebi Whole Time Member Ashwani Bhatia said on Friday that the capital markets regulator will tighten norms governing SME IPOs. The comments came days after the Securities and Exchange Board of India (Sebi) warned investors about unrealistic business projections by several small and medium enterprises (SMEs).
It plans to come out with a discussion paper on the aspect before the end of the year, Bhatia told reporters on the sidelines of the annual GFF (Global Fintech Fest) here.
These changes could include better monitoring and stricter scrutiny on the auditors’ front, Bhatia said, adding that if chartered accountants do their work diligently, we can avoid problems.
Bhatia said that in the first five months of the financial year, the primary issue of Rs. 2 lakh crore has been reached which in the entire FY24 is Rs. 1.97 lakh crores.
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