Bankers shouldn't get bad companies to markets who misuse IPO money: Buch

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Bankers shouldn't get bad companies to markets who misuse IPO money: Buch - Business Standard

Quick Summary:

Sebi Chairperson Madhabi Puri Buch on Tuesday said the capital markets regulator has found "egregious misuse" of funds raised through initial public offerings (IPOs) by certain companies and urged investment bankers to desist from helping such entities access the capital markets.

Speaking at an event organised by Association of Investment Bankers' of India (AIBI), Buch said the i-bankers know exactly when they are bringing a "pump and dump" company to the market.

Even before the term "agentic artificial intelligence" was coined, Sebi had been working on a tool based on that concept to process IPO documents faster, Buch said.