Sebi looks to revitalise rights issue framework to enhance attractiveness

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Sebi looks to revitalise rights issue framework to enhance attractiveness - Business Standard

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The Securities and Exchange Board of India (Sebi) has proposed sweeping changes to the rights issue framework to enhance its attractiveness and make it the go-to route for additional fund raising by listed companies.

Among the changes prescribed by the market regulator are reducing the timeline from the current 20 days to just three days, allowing shareholders to renounce their rights entitlement (RE) to investors of their choice, and doing away with the requirement of appointing an investment banker or filing a draft letter of offer.