Contents of Offer Document summary will be further rationalized for IPO bound companies says SEBI Chair

Tuhin Kanta Pandey, Chairman, SEBI, has stated that for IPO bound companies, the existing contents of the Offer Document summary will be further rationalized. This summary will also be made available separately to investors from the Offer Document, to encourage informed feedback from them. The process for IPO bound companies, whose pre-IPO shares are pledged, is being streamlined. The proposed framework will ensure that lock-in requirements are automatically enforced even if the pledge is invoked or released, thereby preventing listing delays. Consultation papers for these proposals are expected to be out soon.

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