The Securities and Exchange Board of India's (Sebi) 'Expert Committee for Facilitating Ease of Doing Business and Harmonisation of the Provisions of ICDR and LODR Regulations', chaired by S K Mohanty, is exploring regulatory consistency for companies from their Initial Public Offering (IPO) stage to their existence as listed entities. The committee, which includes representatives from stock exchanges, lawyers, proxy advisory firms, broking companies, and officials from the Ministry of Finance and DEA, met on Wednesday.
The committee is considering the requirement for risk factor disclosure through a Draft Red Herring Prospectus (DRHP) at the IPO stage, and the possibility of mandating regular risk disclosures akin to an Annual Information Memorandum for listed entities.
In addition to this, they are focusing on harmonizing the ICDR Regulations, which govern IPO rules, and LODR Regulations, which outline requirements for listed entities. Two groups within the committee are specifically targeting ease of doing business and regulatory alignment.
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