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Cracking the whip: Why Sebi is tightening rules for public issues of SMEs

SME IPO is a red-hot market segment. Many of these floats routinely see 100-time subscription and massive gains upon listing
The Securities and Exchange Board of India (SEBI) is tightening regulations for Small and Medium Enterprises (SMEs) planning to go public due to concerns over market manipulation, misgovernance, and the high volatility of SME stocks. This move comes in response to a significant increase in SME IPOs, with 2023 witnessing 182 such issues compared to just 10 in 2012. SEBI's proposed changes include mandating a minimum public shareholding of 25%, enhancing disclosure requirements, and increasing the track record and experience criteria for merchant bankers involved in these IPOs. These measures aim to protect investors from the risks associated with the SME segment, which has seen instances of price manipulation and governance issues. The regulatory overhaul also seeks to ensure that only well-prepared SMEs enter the public market, thereby fostering a more stable and transparent investment environment.

Read the Full Business Standard Article at:
https://www.business-standard.com/markets/ipo/cracking-the-whip-why-sebi-is-tightening-rules-for-public-issues-of-smes-124120901338_1.html