Sebi lifts internal caps on expense charges for MFs

Min allotment size in IPOs raised to Rs 10,000-15,000, regulator okays e-IPO procedure

Sebi allows mutual funds flexibility in using expense charges; says steps taken to expand market reach.

Sebi has increased the minimum allotment amount or lot size to Rs 10,000-15,000 from the current levels of around Rs 6,000. This will ensure that small investors get a higher share of the IPOs.

Sebi has announced two new routes for companies to comply with minimum public shareholding norms. Companies can now use bonus issue and rights issue in addition to the existing routes to bring down promoter stake. Promoter shareholders will not be able to participate in such issues.

Sebi can now decide on extension of deadline for complying with public shareholding norms on a case-by-case basis. "The Board has empowered Sebi to take decisions on a case-by-case basis," Sebi chief U K Sinha said after the board meet.

The Securities and Exchange Board of India has cleared Investment Advisor Regulations. All advisers offering services for fee will require mandatory registration

Sebi to set up committee for a national mutual fund policy; seeks tax incentives in equity funds under Rajiv Gandhi Equity Savings Scheme.

Sebi to ensure a minimum lot of shares for retail investors in IPOs; approves e-IPO procedure for electronic bidding in public offers.

To set up self distribution body for MF distribution

Compulsory book building issue to have 75% for QIBs

More to come....