 "Sebi extends special dispensations given to firms wanting to go public")
The Securities and Exchange Board of India (Sebi) has extended the special dispensations given to companies wanting to go public.
The regulator has said the validity of Sebi observations for initial public offerings (IPOs) expiring between October 1, 2020 and March 31,2021 will be extended till March 31, 2021.
Sebi’s observation for IPOs is valid for a period one year. As a result, a company which received a final Sebi observation, for instance in November, 2019, has to come out with an IPO by November 2020, otherwise it has to refile its offer document.
However, now such a company will have time till March 2021 to launch its IPO.
Also, Sebi has allowed companies to alter their fresh issue size by up to 50 per cent till March 2021 without the need for refile.
Normally, a company is allowed to increase or decrease the fresh issue component by 20 per cent. The regulator had first announced these relaxations in April to help companies tide over the disruption caused by the Covid-19 pandemic.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%