Proposed amendments to start-up listing norms
The Securities and Exchange Board of India (SEBI) released a discussion paper on July 29, 2016, on changes to the start-up listing norms. The regulatory framework for Institutional Trading Platform (ITP) was put in place vide amendments notified to SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR Regulations) on August 14, 2015.While the regulations announced in 2015 were developed with significant industry consultation, there have been no listings on this platform due to concerns from the start-up community on some of the conditions therein, and the proposed changes seek to address these issues.
The discussion paper also seeks to rename the platform as ’High-tech Start-up & other new business Platform’, to better reflect the type of companies that the platform seeks to attract.
Click here for details on key suggestions from the discussion paper.
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