SEBI to make IPOs more investor friendly

By agencies   |   Friday, 09 September 2005, 19:30 IST
Printer Print Email Email
KOLKATA: Market regulator Securities and Exchange Board of India (SEBI) Thursday said it was exploring ways to make public issue process more investor-friendly. The regulator said it wanted to reduce the time gap between allotment and application money actually debited from the investors' account. "We want to reduce the time-frame and speed up the process of allotment and refund of money to the investors. We have asked Reserve Bank of India's permission to allow for refund through ECS," SEBI chief M Damodaran said. However, ECS refund will remain optional. In the second stage, SEBI would like to put a system by which the actual debit of investors' application money and allotment is very close, he said.