look news india
Ahmedabad: Market regulator SEBI is working on a mechanism to expedite IPO approval. This will speed up the IPO approval process.
Besides, SEBI is developing an artificial intelligence tool to scrutinise IPO documents filed by companies for faster approval, SEBI chairperson Madhavi Puri Buch said. The tool will be available by December.
He said that complexities like filing of complex 'draft red herring prospectus' still remain in the IPO process. Now efforts are being made to free this process from this.
Sebi is working on a process that will have a 'template' where companies can fill in the blanks to prepare the IPO document. There will be a separate 'kalam' to clear any confusion and explain variations on certain aspects.
While the document will be precise and meaningful and any changes will be explained separately, he did not give any time frame for implementing the plan or the process to be followed for it.