SEBI to review the IPO process

Thebullishtrends - In a significant move that the market regulator (SEBI) will review the process of initial public offering by firms to reduce the time gap between the opening of an issue and its listing.

As per the latest reports after the regulator's meeting Mr.C.B.Bhave said that this decision is aimed at making the process more efficientIt was Bhave's first press conference since assuming office on Feb 18. As per this Between pricing of an issue and the day of its listing there is a gap and in between people want to speculate what the price would be. If you reduce the gap, automatically the need for grey market also goes away.

The board also decided to reduce the fee which it charges for filing offer documents for public issue, rights issue, buy back or by mutual funds by as much as 50-80 percent.It reduced the filing fee for mutual funds to half a basis point from 3 basis points, subject to a maximum of 5 million rupees.