Sebi board to clear proposals on IPO reforms Mumbai: The board of the Securities and Exchange Board is set to clear a set of proposals aimed at primary market reform when it meets on December 28, said people with knowledge of the matter. These include constraints on the use of funds raised in initial public offerings for unidentified acquisitions by new-age technology companies, an increase in the lock-in period for anchor investors in IPOs and tighter rules on monitoring IPO proceeds. Most offer documents filed with Sebi have cited acquisition plans without naming likely targets. "There is a possibility that such a requirement could potentially blow back if, post listing, the identified deals or investment opportunities fall through, and such a situation may also, possibly, expose the listed company to regulatory action and litigation from various stakeholders," he said. The regulator had proposed that companies may have to disclose utilisation of the GCP amount in the quarterly monitoring agency report. Price Bands
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