SEBI hikes retail investor limit in IPO to Rs 2 lakh

Retail investors are elated as Securities and Exchange Board of India (SEBI) Chairman Chandrasekhar Bhaskar Bhave on Monday increased the investment limit in initial public offer (IPO) and follow-on offer (FPO) to Rs 2 lakh from current Rs 1 lakh. However, he was quick to add that there is no change in retail investors quota of public offers.

The board has approved the much-awaited disclosure norms for insurance companies' IPOs. "Currently we have framework for rights issue made by Indian companies but not for foreign companies. We need to make framework for rights issue by Indian Depositary Receipt (IDR) listed companies as well." The market regulator has tightened rules on preferential issue to promoters.

Source: www.moneycontrol.com

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