THE BOARD OF Securities and Exchange Board of India (Sebi) took as many as 19 decisions on Wednesday, including tighter listing regulations for small and medium enterprises (SMEs), easier norms for REITs and InvITs, and a wider definition of unpublished price-sensitive information (UPSI).
In a bid to curb the manipulation by some SMEs to paint a pretty picture for investors, it has approved mandating an operating profit of ₹1 crore in two out of three years, and a phased release of promoter lock-in over 1-2 years. The offer for sale (OFS) should not exceed 20% of the total issue size, and amount of general corporate purpose to be capped at 15%.
This story is from the December 19, 2024 edition of Financial Express Mumbai.
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This story is from the December 19, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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