The Securities and Exchange Board of India (Sebi) has notified the increase in the retail investment limit to Rs 2 lakh in initial public offers. The new norms will be applicable to issues that have yet not opened for subscription.
The regulator has also notified norms that call for the issuer company to disclose to the public the fact that it has filed the draft offer document.
“The issuer, either on the date of filing the draft offer document with the board, or on the next day, shall make a public announcement in one english national daily newspaper with wide circulation, one hindi national daily newspaper and one regional language newspaper, at the place where the registered office of the issuer is situated, disclosing to the public the fact of filing of the draft offer document with the board,” said the gazette notification.
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