Capital market regulator is reviewing the process for initial public offerings, its chairman said on Thursday, a day after it banned seven small companies from fund-raising for what it said were IPO rule violations.“We are currently reviewing the entire IPO process, including shortening the timeline for the entire process,” U.K. Sinha told television news channel CNBC TV18. The Securities and Exchange Board of India (Sebi) said on Wednesday a probe revealed misuse or diversion of IPO proceeds, inadequate documentation and due diligence and possible trading violations on the day of listing.
Source: Live Mint
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