Mumbai: New delisting and listing norms, introduction of electronic IPOs, new regulations for curbing insider trading and other capital market reforms are all works in progress at the Securities and Exchange Board of India (Sebi) and could materialise this financial year.
Speaking at the FICCI meeting on capital markets on Wednesday, Sebi chairman U.K. Sinha said that an agenda will be set by next month for companies that have no trading, that want to delist so that they can make an ‘honourable and fair’ exit.
He also said they were moving away from the existing listing agreement mode to “listing regulations that would have a force of regulations rather than just an agreement.”
He said that they hoped to introduce Electronic IPO initially in T+5 form and finally to T+3 by the end of this financial year. Presently it takes 15 days to list a stock after an IPO. He said that Sebi was making supervision of companies risk based so that it could alert companies and work with them to avoid risks.
