Small funds to complain on IPO allotment to Sebi

Five biggest IPOs since 2016 showed preference to mostly bigger entities

Smaller fund houses want a change in the rules on allocation in Initial Public Offers (IPOs) of equity.

Some of them say preference in the anchor investor portion is given mostly to larger entities. Those not among the top 15 rarely get any.

The issue is to be raised on Tuesday with the markets regulator, Securities and Exchange Board of India (Sebi). According to sources, Ajay Tyagi, the latter's chief, has called a meeting of MF chief executives.

Any fund house may apply in an IPO in the Qualified Institutional Buyer (QIB) category, where allotment is made on a proportionate basis. Typically, half