Markets watchdog Sebi on Wednesday said it has set up a working group to review the regulatory framework governing the Innovators Growth Platform, with a focus on facilitating access to capital markets for start-ups and innovation-led enterprises.
The move comes amid the emergence of businesses in areas such as deep-tech, biotechnology, semiconductors, space and other research-intensive sectors, which often have distinct financing requirements and business models.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The 18-member working group will be co-chaired by Srini Srinivasan, Chairman of the Indian Venture and Alternate Capital Association, and Prashanth Prakash, Partner at Accel Partners, Sebi said in a statement.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The working group will review the existing Innovators Growth Platform (IGP) framework, including eligibility and listing requirements, and examine its suitability for research-stage, pre-revenue, intellectual property-led and technology-intensive enterprises.
It will also review the eligibility, participation and investment requirements applicable to IGP Investors, along with the "framework for listing and capital raising by IGP entities, including public issue, OFS, pricing, allocation and minimum subscription requirements".
The panel will further examine post-listing obligations, including disclosure, corporate governance and trading norms, as well as the "framework for migration from IGP to the main board, including eligibility and procedural requirements".
The working group will also benchmark India's framework against international practices and recommend necessary regulatory amendments and implementation measures.
Other members of the working group include representatives from start-ups, venture capital and private equity firms, industry associations, the Department for Promotion of Industry and Internal Trade, ICAI, ICSI, CII, NSE and BSE, among others.
"Members of the Working Group may engage with start-ups, industry associations and other relevant stakeholders to understand sector-specific needs and identify measures to improve access to the IGP, while maintaining market integrity and investor protection," Sebi said.
Its recommendations will be submitted to Sebi for consideration.
In 2015, Sebi put in place a regulatory framework for Institutional Trading Platform (ITP) to facilitate listing of new-age start-ups. However, the ITP framework failed to evince interest.
Thereafter, in 2019, Sebi attempted to revive the platform by introducing certain amendments to the ITP framework and renamed it the Innovators Growth Platform. However, market interest in the platform continued to be tepid. Again, in 2021, Sebi made certain amendments for listing on the platform.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
