InvestorQ : Has SEBI made any important announcements for start-up listing after its board meeting?
diksha shah made post

Has SEBI made any important announcements for start-up listing after its board meeting?

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Dilmini Mercia answered.
4 weeks ago
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Apart from addressing corporate governance issues, the SEBI board also dwelt at length on the ease of doing business with a view to encourage the start-up ecosystem in India. Towards that end, SEBI eased eligibility and listing criteria on the Innovators Growth Platform or IGP. Going ahead, against the current requirement of 25% of its pre-issue capital being held by an institution for 2 years, SEBI has eased it to just 1 year.

Even companies with superior voting rights, which is permitted in the case of start-ups, can list on IGP platform which is dedicated to the start-up ecosystem. SEBI has also eased the criteria to migrate from the IGP board to the main board on BSE and NSE by reducing the process and compliance requirements along the way. The whole idea of IGP is to provide these technology start-ups a fabulous listing opportunity in a more relaxed framework.

SEBI board also made some interesting announcements on the listing front. For example, going ahead it will be mandatory for the promoters to disclose their intentions to delist from stock exchanges. In addition, independent directors of the company will have to also guide minority shareholders of such companies proposing to delist with a reasoned recommendation on whether to accept or reject the delisting offer.

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