New Delhi: The new Companies Bill will give SEBI the powers to look into the end-use of Initial Public Offerings (IPOs) and changes to this effect would be incorporated in the draft Companies Bill, 2009, Corporate Affairs Ministry sources told Business Line. Simultaneously, to enhance transparency, SEBI guidelines are likely to direct all issuer companies with IPOs of even less than 500 crore to appoint an agency to monitor the use of such proceeds. Currently, SEBI guidelines specify that a monitoring agency is required only for issues of over 500 crore. The monitoring agency, such as a bank or a financial institution, is appointed by the company going for an IPO. The agency reports to the company's Audit Committee regarding the use of IPO money. During official discussions, SEBI had said Section 55A of the Companies Act does not grant it powers to look into the end-use of IPOs. SEBI currently has powers only until the issue of the IPO and not beyond it.