KYC to replace IPO norms soon
Market regulator Sebi today said it is looking at revamping the initial public offering (IPO) norms and putting in place a common KYC regulation for financial sector intermediaries.
“Whenever we find instances of violation (IPO norms), we will take deterrent action. It also calls for a relook at our entire IPO process. So we are doing that as well,” Sebi Chairman UK Sinha told reporters on the sidelines of an ANMI event here.
In the first half of the current fiscal, 30 companies have raised funds totalling over Rs 5,000 crore through IPOs.
He said very soon a regulation for centralised KYC (Know Your Customer) would be put into place for making the process easy.
:spy:
Market regulator Sebi today said it is looking at revamping the initial public offering (IPO) norms and putting in place a common KYC regulation for financial sector intermediaries.
“Whenever we find instances of violation (IPO norms), we will take deterrent action. It also calls for a relook at our entire IPO process. So we are doing that as well,” Sebi Chairman UK Sinha told reporters on the sidelines of an ANMI event here.
In the first half of the current fiscal, 30 companies have raised funds totalling over Rs 5,000 crore through IPOs.
He said very soon a regulation for centralised KYC (Know Your Customer) would be put into place for making the process easy.
:spy: