The Securities and Exchange Board of India (Sebi) on Thursday eased eligibility and listing criteria on the so-called Innovators Growth Platform (IGP), a separate exchange venue for new-age startups.
At present, for a company to be able to list on IGP its 25 per cent pre-issue capital needs to be held for at least two years by an institutional investor and other large investors. Sebi has eased this requirement to just one year.
Also, up to 25 per cent of pre-issue shareholding of ‘accredited investors’ –an individual investor with net worth of Rs 5 crore—will allowed for the above eligibility criteria. Earlier, a maximum of 10 per cent of pre-issue holding of accredited investors’ was considered for the 25 per cent pre-issue eligibility requirement.
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