 "Sebi")
Private equity (PE) investors want capital markets regulator Securities and Exchange Board of India (Sebi) to relax the lock-in requirement on pre-initial public offer (IPO) shareholding.
The current regulations clash with their fund philosophy and often prevent them from getting time-bound exits.
Under the current Issue of Capital and Disclosure Requirements (ICDR) regulations, pre-IPO shares are locked in for a period of one year and the minimum contribution of promoters is locked for three years. Sources said PEs and venture capitalists (VCs) recently met Sebi seeking relaxation in the lock-in criteria, particularly in companies where they are construed as promoters
