Sebi speeds up process to clear IPO documents

Sebi had beefed up its team clearing IPO documents at the beginning of the year

The Securities and Exchange Board of India (Sebi) has accelerated the process for approving public offer documents filed with the regulator, as a number of companies line up for share sales this year.

The average number of days between the date of filing an initial public offering (IPO) document with Sebi and the date of approval has been reduced to 65 days this year compared with an average of 87 days in 2016, data from primary marke tracker Prime Database show.

Offer documents of AU Small Finance Bank, Apex Frozen Foods, Capacite Infraprojects, Shalby and CDSL, among others, were cleared