With an aim to boost listing of start-ups, markets regulator Sebi has notified a slew of relaxations to norms, including reducing holding period for pre-issue capital and allowing discretionary allotment to eligible investors. The changes have been made to the framework for listing on the Innovators Growth Platform (IGP), according to two separate notifications issued on Wednesday. Currently, the issuer company is not permitted to make discretionary allotment. This requirement has now been reduced to 50 per cent, Sebi said. In 2015, Sebi introduced the Institutional Trading Platform (ITP) with a view to facilitate listing of new age start-ups.

Source: Mint May 07, 2021 12:33 UTC