Sebi proposes tighter IPO rules for SMEs; seeks views on minimum amount

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Sebi proposes tighter IPO rules for SMEs; seeks views on minimum amount - Business Standard

Quick Summary:

It also suggested to only let companies file for SME IPO if they had an operating profit of 30 million rupees in at least two of the three fiscal years preceding the application.

The regulator also sought views on whether the minimum application amount should be even higher at Rs 4,00,000.

Other proposals included tighter monitoring of fund use from such issues and mandating the disclosure of merchant bankers' fees in draft papers.