SEBI eases listing norms for Start-ups
The Securities and Exchange Board of India (SEBI) has released a circular easing the eligibility and listing criteria for the Innovators Growth Platform (IGP). Companies with superior voting rights are also now eligible to be listed on the IGP . As per the new regulations, 25 percent pre-issue capital must be held by an institutional investor for a duration of one year, as opposed to the earlier two years. 25 percent pre-issue shareholding can also be held by accredited investors. The open offer trigger for listed companies has been increased to 49 percent. SEBI has also made it easy for companies listed on the IGP to delist or migrate to the NSE or BSE within more efficient timelines.