Meet the new Sebi Chief who was instrumental in Air India sale, LIC IPO

New Sebi chief Tuhin Kanta Pandey

Tuhin Kanta Pandey, who currently serves as the Finance and Revenue Secretary, has been appointed as the new Chairperson of the Securities and Exchange Board of India (SEBI) for a three-year term. A 1987-batch Indian Administrative Service (IAS) officer from the Odisha cadre, Pandey will succeed Madhabi Puri Buch, whose tenure as SEBI chief ends on February 28.

Pandey, credited with overseeing the successful privatisation of Air India and the listing of Life Insurance Corporation of India (LIC), played a pivotal role in shaping India’s disinvestment strategy as Secretary of the Department of Investment and Public Asset Management (DIPAM), a position he held since 2019. In a reshuffle earlier this year, he was appointed as the new Revenue Secretary in January, ahead of the Union Budget 2025.

During his tenure at DIPAM, Pandey navigated the complexities of India’s privatisation efforts, managing government asset sales amid economic disruptions caused by the COVID-19 pandemic. While the Centre’s disinvestment targets saw multiple revisions, he successfully executed some of the most significant asset sales in recent years, including the long-pending Air India sale to the Tata Group and the LIC initial public offering, the country’s largest-ever IPO.

Before his role at the finance ministry, Pandey served in various key positions in Odisha, including as principal secretary in the state government. His prior experience includes stints as executive director at the Odisha State Finance Corporation (OSFC) and managing director at the Odisha Small Industries Corporation (OSIC). He also served as the district magistrate of Sambalpur.

At the central level, he has held roles in the Ministry of Commerce and the Cabinet Secretariat and was deputed to the Regional Office of the United Nations Industrial Development Organisation (UNIDO). In 2009, Pandey was appointed as joint secretary in the Planning Commission for five years and then as joint secretary in the Cabinet Secretariat for a period of two years.

An economist by training, Pandey holds a master’s degree in economics from Punjab University and an MBA from the United Kingdom.