Sebi‘s whole-time member Ashwani Bhatia on Friday said the capital markets regulator will tighten the norms governing SME IPOs. The comment comes days after Securities and Exchange Board of India (Sebi) cautioned investors about unrealistic business projections by several small and medium enterprises (SME).
It plans to come out with a discussion paper on the aspect before the end of the year, Bhatia told reporters on the sidelines of the annual GFF (Global Fintech Fest) here.
The tweaks may include better monitoring and tighter scrutiny on the auditors front, Bhatia said, adding that if the chartered accountants do their job diligently, we can avoid problems.
Bhatia said primary issuances have reached Rs 2 lakh crore within the first five months of the fiscal year as against Rs 1.97 lakh crore in whole of FY24.
