SEBI committee likely to allow share sale through e-IPO

Posted By: Religare
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SEBI committee likely to allow share sale through e-IPO
The market regulator Securities Exchange Board of India (SEBI) is likely to allow the companies to sell shares through electronic Initial Public Offers (e-IPOs). The same would be taken care by the committee set up by SEBI for examining IPO-related issues.

"The committee set up by SEBI to undertake various issues relating to IPOs is looking into it (the e-IPO proposal). We are awaiting formal clearance from the Ministry of Corporate Affairs for the e-IPO process," said SEBI Chairman U K Sinha.

Consequently, the proposal would enable the investors to bid for shares online and would not require any need of signing any papers physically.

Meanwhile, in order to create awareness about the move in public, SEBI has further decided to hold an international conference in Goa in February as a part of investor education initiatives. The conference would mainly focus on the domestic issues related to investor education as well as international issues and global trends, with special focus on Asia and its investor education needs, added Sinha.

Besides, talking about the SEBI's proposal for reducing the number of days in the IPO process, Sinha said, “The current period of 12-plus days and how to reduce it is part of the committee's mandate."

Dion Global Solutions Ltd

Read more about: sebi, ipo, shares
Story first published: Monday, January 2, 2012, 13:33 [IST]
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