The Securities and Exchange Board of India (SEBI) on Tuesday said it is undertaking significant reforms to enhance market integrity, facilitate large initial public offerings (IPOs), and strengthen investor protection against manipulation and fraudulent practices.
SEBI Whole-time Director Kamlesh Chandra Varshney said the regulator has floated a consultation paper proposing to extend the deadline for achieving 25 per cent public shareholding to 10 years for exceptionally large companies.
Currently, companies must meet this requirement within five years of listing. This relaxation, he said, will make large IPOs such as that of the National Stock Exchange more feasible.
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