Sebi's consultation paper noted that investor participation has increased with the rising number of SME offerings. Applicant to allotted investor ratio rose from 4x in FY22 to 46x in FY23, and further to 245x in FY24.
On June 30, SEBI said Vedanta had broken its rules by publishing a press release on its website that made it appear it had partnered with Foxconn to make semiconductors in India, when the deal was with Vedanta's holding company.
The regulator has asked companies to disclose agreements entered into by shareholders, promoters, related parties, directors, key managerial personnel, and employees of the listed entity or subsidiary, which can impact the management and control of such firms to stock exchanges.
The amendment also includes a declaration under which the charitable institution will have to give details of donations received from a person in excess of Rs 2 lakh in a single day.
Markets regulator Sebi today said foreign portfolio investment through participatory notes has plunged to just 8 percent after it introduced greater disclosure norms.
In an interview to CNBC-TV18, Prithvi Haldea, Founder & Chairman, Prime Database spoke about Sebi's new disclosure norms.
As Sebi gears up to crack whip on corporates for non-compliance with disclosure norms, hundreds of listed companies have been found to be violating model regulations for disclosing key details such as financial results and shareholding data.
Prithvi Haldea, chairman and managing director of Prime Database congratulates market regulator SEBI for coming out with a strict order in the case of the IPO market.