Sebi approves changes to IPO norms

The IPO price band can be announced two working days before commencement of the offer, with markets regulator Sebi approving various amendments to the regulations.

At present, the price band has to be announced five working days before the initial share sale opens for subscription. The proposals to amend the ICDR (Issue of Capital and Disclosure Requirements) regulations were cleared by the Sebi board.

“The requirement of announcing price band five working days before opening of the issue would be reduced to two working days before opening of the issue,” the Sebi said in a release. With regard to public and rights issues, the financial disclosures would need to be made for three years as against the present requirement of five years.