No IPO proposal from eastern zone a cause for concern: Sinha

Posted By: Religare
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Sebi Chairman U K Sinha said many companies have approached the regulator with IPO plans, but rued the absence of any such proposal from the Eastern region including in the startup space.

"There is a healthy pipeline of IPOs lying with Sebi for clearance. But there is not a single proposal from the eastern zone, which is cause for concern," Sinha said at a seminar organised by Bharat Chamber of Commerce, said the media reports.

The Sebi chief said that India was growing and there were signs of optimism everywhere. "But eastern region has to grow when India is growing," he said.

Historically, most of the IPO proposals emerging from the Eastern region came from West Bengal.

"I have also checked it out from the regional office here. There are no proposals from this part," Sinha said.

Sinha said that the east needed to look beyond the traditional business models for investment plans.

Sebi meanwhile, is also framing new norms for floating IPOs by technological startups.

"Is there no technological startups here?" he asked.

Story first published: Friday, July 24, 2015, 12:30 [IST]
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