Flurry of IPOs: Sebi sounds alert on threat of technical glitches

Asks intermediaries to stagger the offerings as much as possible

The harrowing experience of the recent technical glitch suffered by the National Stock Exchange (NSE) still fresh in mind, the Securities and Exchange Board of India (Sebi) has sounded an alarm about the bunching up of initial public offerings (IPOs) this month.

The market regulator has asked intermediaries to ensure there are no system glitches while processing IPO applications, and to stagger the offerings as much as possible, said people in the know.

The NSE glitch last month led to a trading halt that lasted several hours and resulted in huge losses for traders as brokers squared off open positions